US vs IRAN – (Web Desk) – The United States has imposed new sanctions on Nobitex, Iran’s largest cryptocurrency exchange. Washington says the platform helped the Iranian government and banned state institutions dodge Western financial restrictions.
What Triggered the Sanctions?
The move comes after a Reuters investigation published on May 1. The report revealed that Nobitex had become a key hub in a shadow financial network. Through this network, Iran’s central bank and the Islamic Revolutionary Guard Corps (IRGC) processed hundreds of millions of dollars.
The investigation also found that Nobitex kept running even during government-ordered internet shutdowns — handling millions of dollars in transactions throughout.
What the US Treasury Said
Treasury Secretary Scott Bessent was direct in his criticism.
“While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country,” he said.
The Treasury also stated that Nobitex provided “significant support” to the Iranian government and handled a large number of digital transactions tied to the IRGC and Iran’s central bank.
Today, Treasury’s Office of Foreign Assets Control designated Nobitex, Iran’s largest digital asset exchange, along with three other Iranian digital asset exchanges, as part of Economic Fury and the Trump Administration’s efforts to eliminate the threat posed by the Iranian…
— Treasury Department (@USTreasury) June 2, 2026
Who Runs Nobitex?
Reuters found that two brothers from one of Iran’s most powerful families control the exchange. They belong to the Kharrazi family — one of the most influential dynasties in the Islamic Republic, with close ties to the country’s new supreme leader.
Interestingly, corporate records show the brothers were originally listed under a different surname when the exchange launched — one rarely linked to their family.
Who Was Sanctioned?
The US Treasury sanctioned the two brothers — Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali — along with the exchange’s CEO, Amir Hossein Rad.
Nobitex’s Response
Nobitex could not be reached for comment after the announcement.
However, in an earlier statement to Reuters in April, the company denied any direct government ties. It claimed that any illicit funds moving through its platform did so without management knowledge or approval. It also rejected claims that the brothers had ever used alternative identities.
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