The United States sanctioned several Iranian individuals (including Alireza Derakhshan and Arash Estaki Alivand) as well as firms in the UAE and Hong Kong. These sanctions are linked to over $100 million in cryptocurrency transactions tied to Iranian oil, allegedly moved via shadow networks to benefit Iran’s government and armed forces. The restrictions freeze U.S. assets and ban U.S. entities from transacting with the sanctioned parties. 

Source: AP news