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US Treasury Targets Companies Linked to Iranian Financier Zanjani's Network

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The US sanctioned four individuals and nine entities tied to Iranian financier Babak Morteza Zanjani, expanding efforts to disrupt networks that help Tehran evade sanctions, including those used to move oil revenues, the Treasury Department's Office of Foreign Assets Control said Friday.

The measures target Zanjani's Iran-based Dot One conglomerate and companies supporting his digital asset exchanges, Zedcex and Zedxion. Zanjani used businesses spanning logistics, transportation, aviation, finance and digital assets to conceal ownership and move funds.

Treasury also sanctioned Dot One Value Creation Group, DotOne Gold Company, DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company and DotOne Trip.

Treasury said Zanjani first rose to prominence by helping Iran sell crude and repatriate oil revenues during earlier rounds of international sanctions. It said he regained prominence after backing regime-linked projects, including an $800 million rail contract in April 2025.

Treasury said he was convicted in Iran over funds owed to the National Iranian Oil Company before rebuilding a business network that now supports sanctions evasion.

In a January 2026 designation, OFAC had described Zanjani as a "... a criminal Iranian investor who previously embezzled billions of dollars in Iranian oil revenue that rightfully belonged to the Iranian people and was never fully recovered."

Friday's action also covers Turkey-based Zedpay Finansal Sistem Ve Hizmetleri and Dubai-based Zedx DMCC and BZ Diamond FZCO, along with four executives. Treasury said the firms supported Zedcex and Zedxion, which processed transactions linked to the Islamic Revolutionary Guard Corps.

Treasury said Iran sentenced Zanjani to death in 2016 for embezzling funds from the National Iranian Oil Company before commuting his sentence in 2024. It said he later rebuilt a network that supported sanctions evasion and money laundering.

The sanctions block US-based property and interests of the designated parties and bar US persons from transacting with them unless authorized. Treasury warned foreign firms also risk penalties for helping them evade US sanctions.

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