US Treasury Secretary Bessent: Seized nearly $500 million in Iranian crypto assets, pressuring foreign parties to cut off contact

According to a report by Fox Business on April 30, U.S. Treasury Secretary Scott Bessent said on the Kudlow program that the United States has seized nearly $500 million worth of Iranian cryptocurrency assets as part of “Operation Economic Fury.” Bessent said the operation is intended to freeze bank accounts, seize assets, and pressure foreign governments to cut off ties with Iran.

Details of “Operation Economic Fury”

According to Fox Business’ April 30 report, “Operation Economic Fury” was authorized by U.S. President Donald Trump in March 2025, and the Treasury Department has seized nearly $500 million in Iranian cryptocurrency assets.

Bessent said on the show, “We are freezing bank accounts everywhere. More importantly, we are making people less willing to deal with the regime.” He added that the Treasury Department is also tracking overseas assets of Iranian officials, and stressed that the related seizure actions “are for the benefit of the Iranian people.”

Bessent said that President Trump instructed the Treasury Department three weeks ago to further increase pressure on Iran, and that the Treasury Department has issued warnings to Iranian oil buyers, telling them that if they allow Iranian oil to flow into their own systems, the relevant industries and banks will face secondary sanctions.

Iran’s current economic situation

According to Fox Business’ April 30 report, Bessent said Iran fell into economic stagnation in December 2025, when the country’s largest bank collapsed. He said, “This has caused severe inflation. Their currency has depreciated against the U.S. dollar by about 60% to 70%, so they are in a currency crisis.” Bessent said that “Operation Economic Fury” has entered a “sprint phase,” with the action being prepared for more than a year.

Oil blockade and the impact of sanctions

According to Fox Business’ April 30 report, Bessent said that operations at the Kharg Island port for loading and unloading have “almost completely stalled,” Iran’s crude oil storage facilities are close to capacity limits, and that Iran will have to start closing oil wells, which will create “permanent problems.”

Bessent also noted on the program: “The regime will be unable to pay soldiers’ salaries. Just as importantly, they will be unable to fund their agents around the world, whether Hezbollah, Hamas, or other organizations. One of President Trump’s goals is to prevent Iran from projecting terrorist power globally.”

Frequently asked questions

How much Iranian cryptocurrency has the U.S. seized?

According to Fox Business’ April 30 report, Treasury Secretary Scott Bessent said on the Kudlow program that the U.S. has seized nearly $500 million worth of Iranian cryptocurrency assets, and that the action is “for the benefit of the Iranian people.”

What is “Operation Economic Fury”? When was it authorized?

According to Fox Business’ April 30 report, “Operation Economic Fury” was authorized by President Trump of the United States in March 2025. Its goal is to cut off Iran’s financial resources by seizing Iranian assets, freezing bank accounts, and pressuring foreign governments.

What is Iran’s economic situation like right now?

According to Fox Business’ April 30 report, Bessent said Iran’s currency has depreciated against the U.S. dollar by about 60% to 70%, Iran’s largest bank collapsed in December 2025, and loading and unloading operations at the Kharg Island port have almost completely stalled.