The Trump administration is sending mixed signals on Iran sanctions. On June 22, 2026, the US Treasury issued a 60-day license permitting Iranian oil production and sales. This builds on a previous 30-day window estimated to unlock 140 million barrels of crude.
The administration frames this as performance-based relief, contingent on progress toward nuclear dismantlement and keeping the Strait of Hormuz open. However, no broader unfreezing of Iranian assets is planned.
Parallel to the oil waiver, the US launched a major crypto enforcement action. On June 2, 2026, Washington sanctioned Nobitex, Iran's largest cryptocurrency exchange, for allegedly helping the government evade sanctions.
Three weeks earlier, approximately $344 million in digital assets tied to Iranian regime wallets were frozen. Stablecoin issuer Tether assisted in that seizure, demonstrating that dollar-denominated stablecoins carry jurisdictional exposure that pure crypto assets like Bitcoin do not.