The United States has frozen $344 million in cryptocurrency assets linked to Iran, as part of its continued efforts to increase financial pressure on Tehran. Treasury Secretary Scott Bessent announced the move on Friday, highlighting Washington’s focus on restricting Iran’s access to funds during the ongoing war in the Middle East, which has also impacted global energy supplies.

In a statement shared on the social media platform X, Bessent said that the Treasury Department “will continue to systematically degrade Tehran's ability to generate, move, and repatriate funds.” He confirmed that sanctions were imposed on “multiple wallets tied to Iran,” which led to the freezing of these digital assets.

The action is part of a broader strategy by the US government to limit Iran’s financial operations, especially as tensions remain high in the region. Alongside traditional methods, authorities are now also targeting the use of cryptocurrency, which has increasingly been used to bypass sanctions.

This development comes at a time when US diplomatic efforts are also underway. Envoys Steve Witkoff and Jared Kushner are scheduled to travel to Pakistan on Saturday for another round of discussions with Iranian officials. These talks aim to find a way to end the ongoing conflict.

The war began after joint US-Israeli strikes on Iran on February 28. These strikes targeted key locations and resulted in the deaths of several senior figures, including Supreme Leader Ali Khamenei. The situation has since escalated, affecting both regional stability and global markets.

According to a US official who spoke on the condition of anonymity, Washington is focusing on both traditional and modern methods used by Iran to evade sanctions. This includes cracking down on front companies as well as monitoring digital financial channels. The official also stated that the Treasury Department is actively working with financial institutions, including cryptocurrency exchanges, to track and restrict such transactions.

The latest move signals a stronger push by the US to combine financial enforcement with diplomatic efforts, as it seeks to weaken Iran’s economic capabilities while also exploring possible resolutions to the conflict.