Treasury Further Dismantles Iranian Financier Zanjani’s Network

WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.“The Iranian regime continues to pay a steep economic price for its reckless behavior, with the rial plunging to another record low and inflation up massively,” said Secretary of the Treasury Scott Bessent.