Treasury sanctions Iran-linked firms over an alleged IRGC shipping scheme as Scott Bessent accuses Tehran of using global commerce to fund aggression.

“With its economy in freefall and inflation in the triple digits, the regime is desperate for cash,” said Treasury Secretary Scott Bessent.

OFAC sanctioned two Iranian firms tied to the IRGC for forcing ships to buy crypto-payable insurance to transit the Strait of Hormuz, raising