{"id":804,"date":"2026-07-24T17:42:21","date_gmt":"2026-07-24T17:42:21","guid":{"rendered":"https:\/\/officemovingamerica.com\/?p=804"},"modified":"2026-07-24T17:42:21","modified_gmt":"2026-07-24T17:42:21","slug":"us-hits-network-of-iranian-financier-zanjani-with-more-sanctions","status":"publish","type":"post","link":"https:\/\/officemovingamerica.com\/?p=804","title":{"rendered":"US Hits Network of Iranian Financier Zanjani With More Sanctions"},"content":{"rendered":"<div>\n<div>\n<p>By Andrea Shalal<\/p>\n<\/div>\n<div>\n<p>WASHINGTON, July 24 (Reuters) &#8211; The United States on Friday imposed sanctions against nine \u2060firms \u2060and four people in the business network of \u2060sanctioned Iranian financier Babak Zanjani for evading sanctions,\u00a0even as U.S. forces escalated their strikes across Iran.\u00a0<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=802\">FDA Panel Votes to Exclude Peptide Emideltide From Pharmacy Compounding List<\/a><\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>The sanctions add to \u200ba broader U.S. campaign of military and economic pressure on Iran. The country&#8217;s currency has hit record lows, inflation exceeds 60% and U.S. strikes have intensified from the north \u200cto the south of the country.\u00a0<\/p>\n<\/div>\n<div>\n<p>The U.S. Treasury \u200cDepartment said the new designations target Zanjani&#8217;s Iran-based operations under his &#8220;Dot One&#8221; conglomerate and several firms based in Turkey and the United Arab Emirates that have supported \u2060his already designated digital \u2060asset exchanges, as well as top executives at those firms.<\/p>\n<\/div>\n<div>\n<p>Treasury said Zanjani had leveraged a diverse \u200bportfolio that includes financial services, digital asset trading and gold and precious gem production, along with major infrastructure projects, to launder revenue and move funds covertly for Iran.<\/p>\n<\/div>\n<div>\n<p>&#8220;The United States is holding Babak Zanjani and his sprawling network accountable for enabling the Iranian regime to evade sanctions and finance its destabilizing activities, including supporting the Islamic Revolutionary Guard Corps,&#8221; said State \u200bDepartment spokesman Tommy Pigott.<\/p>\n<\/div>\n<div>\n<p>&#8220;This action applies further pressure on the Iranian regime following its attacks on commercial vessels transiting the Strait of Hormuz and \u2060regional \u2060neighbors,&#8221; he said, calling on governments \u2060worldwide not to engage with \u200bZanjani or others backing the Iranian government.<\/p>\n<\/div>\n<div>\n<p>Reuters was not immediately in a position to reach out to Zanjani for comment.\u00a0<\/p>\n<\/div>\n<div>\n<p>U.S. Treasury Secretary Scott \u200bBessent said Iran was already paying a &#8220;steep economic \u2060price for its reckless behavior, with the rial plunging to another record low and inflation up massively.\u201d Treasury would continue cutting off\u00a0economic access for members of the Iranian government and their financiers, he said.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>Iran&#8217;s currency has hit new lows in recent weeks amid demand for foreign currencies, with the resurgence of military hostilities ratcheting up pressure on Iran&#8217;s economy, which is already grappling with 60%-plus inflation and negative growth.<\/p>\n<\/div>\n<div>\n<p>Treasury&#8217;s Office of Foreign Assets Control first designated Zanjani and his two largest digital asset projects, Zedcex \u2060Exchange Limited (Zedcex) and Zedxion Exchange Limited (Zedxion) in January.<\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>Zanjani, a billionaire convicted of fraud, has long been a key figure in \u2060Iran&#8217;s sanctions-evasion network. He was sentenced to death by Iranian authorities in 2016 for embezzlement. His sentence was commuted in 2024, and he re-emerged as a backer of Iranian government economic projects by 2025, Treasury said.<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=800\">NBA-LeBron James Joining Philadelphia 76ers for Record-Extending 24th NBA Season<\/a><\/p>\n<\/div>\n<div>\n<p>After his commutation, Zanjani backed a series of high\u2011profile infrastructure and transportation ventures and built a network of digital asset companies, including Zedcex and Zedxion, which Treasury said were used in part to launder money for the Islamic Revolutionary Guard Corps (IRGC).<\/p>\n<\/div>\n<div>\n<p>Zanjani also played a key role as chief executive and financial backer for multiple Iran-based \u201cDot One\u201d projects across the country, including an $800 million rail contract secured in April 2025, Treasury said.<\/p>\n<\/div>\n<div>\n<p>It said it was designating Dot One Value Creation Group (Dot One Value), the group&#8217;s primary holding company, and Dot One Gold Company, its gold bar minter, producer, and custodian company, for their ties to Zanjani, as well as \u2060Dot One Rail Co, Dot One Barter Co, Dot One Airlines Co, and Dot One Trip.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>Also designated were:<\/p>\n<\/div>\n<div>\n<p>\u2022 Istanbul-based Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi (Zedpay) for its work providing cross-border payment capabilities to the sanctioned entity Zedxion, and its chairperson, Mehdi Rezazadeh.<\/p>\n<\/div>\n<div>\n<p>\u2022 Dubai-based Zedx DMCC (Zedx) for its ties to Zanjani&#8217;s Zedcexm along with its manager Sukhrob Oimakhmadov.<\/p>\n<\/div>\n<div>\n<p>\u2022 Dubai-based BZ Diamond FZCO (BZ Diamond), a dealer of lab-grown and natural diamonds \u200bmanaged by Zanjani\u2019s sister, Bahareh Morteza Zanjani, and the sister herself.<\/p>\n<\/div>\n<div>\n<p>\u2022 Zanjani&#8217;s partner,\u00a0Solmaz Bani, who has registered websites for Zanjani&#8217;s \u200bcompanies.<\/p>\n<\/div>\n<div>\n<p>(Reporting by Andrea Shalal; Editing by Michelle Nichols, Andrea Ricci and Sanjeev Miglani)<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=798\">House Sends Flurry of Bills to Senate Before Summer Recess<\/a><\/p>\n<\/div>\n<div>\n<p><b>Copyright 2026 Thomson Reuters<\/b>.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. 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