US freezes $344 million in cryptocurrency tied to Iran, Treasury says

The United States on Friday imposed fresh sanctions on a China-based refinery and around 40 shipping firms and vessels allegedly tied to Iran’s oil exports, as part of efforts to tighten pressure on Tehran’s revenue streams.

The Treasury Department said the measures target independent “teapot” refinery Hengli Petrochemical, one of the largest buyers of Iranian crude, along with a network of tankers moving oil to global markets.

“Economic Fury is imposing a financial stranglehold on the Iranian regime,” Treasury Secretary Scott Bessent said, adding Washington would continue to “constrict the network of vessels, intermediaries, and buyers Iran relies on.”

US officials said the targeted vessels transported billions of dollars’ worth of petroleum products, describing the shadow fleet as a “critical link” sustaining Iran’s economy.

Iran ‌plans to make an ⁠offer aimed ‌at ​satisfying US demands, ​Reuters reported on Friday citing ⁠President ‌Donald Trump .

"They're ​making ⁠an offer ‌and we'll ​have to ‌see," Trump ​said during a phone ​interview.

The US officials negotiating with Iran "are dealing with the people who are in charge now", Reuters quoted Trump as saying.

Iranian exiled Crown Prince Reza Pahlavi on Friday accused European media of ignoring mass killings and executions in Iran, saying that despite extensive meetings he had with journalists in Stockholm and Berlin, none raised questions about Iran's killing of protesters or the recent execution of political prisoners.

"They seem more interested in criticizing America, asking why the United States and Israel killed the dictator that has slaughtered our people for 47 years than criticizing the regime, doing the slaughtering," Pahlavi said in a video message.

"Whether or not Europe stands with us, whether or not your journalists do their jobs, whether or not your politicians demonstrate the courage to act, I will fight for my people and my country, even if we have to do this alone."

Switzerland’s foreign ministry said on Friday four staff have returned to Tehran to prepare the “gradual resumption of operations” at its embassy, which was closed last month over security concerns.

In a statement on X, the ministry said the move follows the temporary shutdown of its diplomatic mission in March amid the deteriorating security situation linked to the regional conflict.

“Following the temporary closure of the Swiss Embassy on 11 March due to the security situation, a Swiss team has returned to Tehran as of 20 April,” the ministry said.

“Four staff travelled overland via Azerbaijan and are now preparing the gradual resumption of operations.”

White House Special Envoy Steve Witkoff and Donald Trump's son-in-law Jared Kushner will travel to Pakistan to participate in talks with Iranian Foreign Minister Abbas Araghchi this weekend, CNN reported citing two administration officials.

Vice President JD Vance is not currently planning to attend as Iran’s Parliament Speaker Mohammad-Bagher Ghalibaf, is not participating either, the report said.

Vane will be on standby to travel to Islamabad if talks progress, the officials were quoted as saying, and members of his staff will be in Pakistan and attending the negotiations.