US Sanctions Target Zanjani's Business Network, Crypto Exchanges Linked to IRGC

The US Treasury Department has imposed sanctions on nine firms and four individuals connected to billionaire Iranian financier Babak Zanjani for attempting to evade sanctions. The move targets businesses in Iran, Turkey, and the United Arab Emirates that have supported Zanjani's digital asset exchanges.

Zanjani's conglomerate, Dot One, operates in various industries, including logistics, telecommunications, aviation, transportation, and digital assets. According to the Treasury Department, Zanjani still holds control over Dot One Value, a company under his conglomerate that provides these services.

The sanctions also affect two UK-registered crypto exchanges, Zedcex and Zedxion, which have been linked to over $94 million in processed funds for wallets connected to the Islamic Revolutionary Guard Corps (IRGC). The Treasury Department claims one of these exchanges has ties to Zanjani's sister, Bahareh Morteza Zanjani.

Treasury Secretary Scott Bessent stated that the Iranian regime is paying a steep economic price for its actions, with the rial plummeting and inflation soaring. He emphasized that the US will continue to cut off economic access for corrupt Iranian regime elites and their financiers.