Iran broke? $25bn oil loss, $350m crypto frozen as militias send money back to IRGC

Iran is facing severe financial pressure following nine months of war, with a US naval blockade resulting in a $25 billion loss in oil revenue and $350 million in frozen cryptocurrency, as reported by US Central Command (CENTCOM) chief Adm Brad Cooper. Iranian-backed groups across the region, including Hezbollah, Hamas, and Shia militias in Iraq, have reportedly been sending money back to Iran's Islamic Revolutionary Guard Corps (IRGC), exacerbating the financial strain on Iran's military.

Cooper stated that the Iranian government is also withholding salaries, pensions, and benefits from public sector workers, including IRGC members and internal security personnel. The US maintains a naval blockade and sanctions on Iran, hoping to push Tehran towards a deal that includes concessions on its nuclear program, but Iran has yet to respond to a US counterproposal aimed at ending the conflict.

Brief written by urgent.news from Times of India's own syndicated text. Machine-written — may contain errors; check the original before relying on it.