US sanctions 13 targets in Iranian financier Babak Zanjani’s network

WASHINGTON, July 24, 2026 — The US Treasury Department’s Office of Foreign Assets Control designated four individuals and nine entities described as key parts of Iranian financier Babak Zanjani’s sanctions-evasion network.

Treasury said Zanjani has used a portfolio spanning financial services, digital assets, gold, precious gems, transportation and infrastructure to obscure ownership, launder revenue and move funds through Iran and offshore jurisdictions.

The action targeted Iran-based companies in Zanjani’s Dot One conglomerate, including businesses involved in rail transportation, aviation, barter services, travel and gold. Treasury said Dot One Rail Company secured an $800 million contract with the Islamic Republic of Iran Railways in April 2025.

OFAC also designated companies and executives in Türkiye and the United Arab Emirates accused of supporting Zanjani-linked digital asset exchanges Zedcex and Zedxion. Treasury said cryptocurrency addresses attributed to the exchanges had processed funds for wallets linked to Iran’s Islamic Revolutionary Guard Corps.

The designated individuals include Zedpay chairperson Mehdi Rezazadeh, Zedx manager Sukhrob Oimakhmadov, Zanjani’s sister Bahareh Morteza Zanjani and Solmaz Bani, whom Treasury identified as Zanjani’s significant other.

The entities include Istanbul-based financial technology company Zedpay, Dubai-based Zedx DMCC and BZ Diamond, as well as six companies operating under the Dot One group.

OFAC separately issued an amended Russia-related general license authorizing certain negotiations and contingent contracts for the sale of Lukoil International GmbH, along with related maintenance activities. It also amended Russia- and Venezuela-related guidance and adopted regulatory changes covering contact information, legal-services payments and recordkeeping requirements.