US Sanctions Crypto Exchange Used for Iran Hormuz Transit Payments

The US Treasury has significantly escalated its 'maximum pressure' campaign against Iran, targeting third-country intermediaries supporting Mahan Air in the UAE and Turkey, and expanding sanctions to Iranian cryptocurrency platforms linked to sanctions evasion and maritime payments. This has resulted in Mahan Air suspending routes to Turkey and Oman, and Georgia suspending all air travel with Iran, indicating increased international compliance with US sanctions. The operational impact on Iran's broader financial system and the long-term effectiveness of crypto-related sanctions remain key uncertainties.