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Chainalysis: Since December 2024, Iran has been selling oil with the help of cryptocurrency, with transaction amounts exceeding $178 million

Geopolitics On-Chain Data

2026-04-09 12:04:35

Gate News message, April 9, Chainalysis data shows that Iran’s regime (Islamic Revolutionary Guard Corps IRGC) has increasingly used cryptocurrency in recent years to facilitate cross-border commercial trade, especially in oil sales. In December 2024, a sanctioned IRGC member associated with the Houthis helped arrange Iran’s sale of oil to Yemen through a cryptocurrency address, and the total value of the related transactions exceeded $178 million within a year. By April 2025, a broader network of Houthis financiers began using cryptocurrency to procure weapons and goods from Russia; the transaction scale of cryptocurrency addresses tied to sanctions has nearly reached $1 billion, and nearly all of the above activities occurred within a single year.

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