U.S. Treasury Secretary Bessent says U.S. will freeze Iranian assets and bar dollar access for IRGC-linked firms
Treasury Secretary Scott Bessent announced plans to freeze offshore assets linked to Iran's Revolutionary Guard Corps and to deny dollar-based financial services to entities doing business with the group.
U.S. Treasury Secretary Scott Bessent said the United States will target offshore accounts and real-estate holdings tied to Iran’s Islamic Revolutionary Guard Corps (IRGC) and will deny any firm that does business with the group access to the U.S. dollar-based financial system. Speaking at a G20 finance meeting in Asheville, North Carolina, Bessent said the Treasury has identified trust-company accounts in the British Virgin Islands and luxury properties worth about $100 million that belong to the IRGC.
"We are going to freeze those assets and work with partners to close them down," Bessent told the audience.
He added that the sanctions would apply to banks, leasing companies and other entities that facilitate IRGC transactions, and that the measures aim to prevent the regime from financing nuclear or terrorist activities. Bessent also noted that the United States has discussed coordination with China on limiting Iran’s nuclear program and ensuring navigation freedom in the Strait of Hormuz.