Overview
- The Treasury’s Office of Foreign Assets Control designated Dubai-based Shelbit, Iran-based Aban Tether and operator Siavash Kayvanpour on Friday, August 7, adding them to the U.S. Specially Designated Nationals list and blocking any U.S.-touching assets.
- Treasury published blockchain addresses and said IRGC-linked wallets sent more than $1 million to Shelbit while Shelbit returned over $2 million to IRGC-controlled addresses, and Kayvanpour-linked wallets moved more than $2 million to the already-sanctioned Iranian exchange Nobitex.
- U.S. officials framed the moves as part of the 'Economic Fury' campaign under Executive Order 13902 and used evidence from a Reuters investigation and Dubai regulator VARA notices to trace alleged cross-border laundering through gambling sites, mining operations and shadow-banking firms.
- Markets and analysts reported a drop in near-term odds of a U.S.–Iran nuclear deal after the designations, and exchanges, stablecoin issuers and payment firms now face increased compliance burdens and risk of secondary sanctions for processing linked flows.
- Beyond the immediate freezes, the campaign builds on prior OFAC rounds that targeted currency exchange houses, shell companies and petroleum-related vessels and signals continued pressure on the networks that fund Iran’s regional and military activities.