New US sanctions target billionaire Iranian financier Babak Zanjani

International New US sanctions target billionaire Iranian financier Babak Zanjani Comments: by Mira Bhakta - 07/25/26 1:27 PM ET Comments: Link copied by Mira Bhakta - 07/25/26 1:27 PM ET Comments: Link copied

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The United States Treasury Department announced on Friday it will be implementing sanctions against key businesses and associates of sanctioned Iranian financier Babak Zanjani for attempting to evade sanctions.

The sanctions affect nine firms and four people in the business network of Zanjani. The Treasury Department said in a statement Friday that firms being targeted include Zanjani’s Iran-based operations under his “Dot One” conglomerate, several firms based in Turkey and the United Arab Emirates that have supported his already designated digital asset exchanges and top executives.

“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 Treasury Secretary Scott Bessent. “Under President Trump’s leadership, Treasury will continue cutting off economic access for corrupt Iranian regime elites, along with their financiers and facilitators.”

Dot One Value, with Zanjani named as CEO, operated under the conglomerate and worked to provide logistics, telecommunications, aviation, transportation and digital assets. The Treasury Department claims Zanjani still holds control over this company.

“Following his commutation, Zanjani re-entered the Iranian public eye through the establishment of his multiple Iran-based “Dot One” projects across a variety of diverse industries,” the Treasury Department said.

Other companies with a portion of control under Zanjani include Dot One Gold Company, a gold bar minter and producer, along with a rail company, airlines company and other businesses.

The other subject of tariffs include two UK-registered crypto exchanges, Zedcex and Zedxion; both of which have been connected to over $94 million processed funds for wallets linked to the Islamic Revolutionary Guard Corps (IRGC).

Zanjani denies these allegations, but the Treasury Department stated that one of the companies has ties to Zanjani’s sister, Bahareh Morteza Zanjani, and his significant other.

The diamond dealing company BZ Diamond FZCO, based in Dubai and managed by Zanjani’s sister, supported both crypto exchanges through the promotion of tokens, NFTs and other digital assets.

These exchanges were listed by the Treasury as “terror assets” before the sanctions for allegations it laundered money to support IRGC projects. Zanjani called these allegations a “fake report”, denying he was using the cryptocurrency exchanges to transfer assets to the IRGC, the Wall Street Journal reported.

These sanctions come after Senate Majority Leader John Thune (R-S.D.) told reporters he’s expecting to add provisions to penalize Iran to a Russia sanctions bill. Thune is attempting to expedite the bill before the month-long Senate break starting Aug. 7.

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