U.S. sanctions Zanjani-linked financial network tied to Iran
Washington is expanding pressure on Iran's access to international finance by targeting a network linked to businessman Babak Zanjani. The move covers four individuals and nine entities and follows what the United States describes as Iranian attacks on commercial vessels in the Strait of Hormuz and on regional neighbors.
Highlights
- The U.S. imposed new sanctions under Executive Order 13902 targeting a financial network linked to Babak Zanjani for supporting Iran's regime and Islamic Revolutionary Guard Corps.
- Despite a prior death sentence for embezzlement in Iran, Zanjani has re-emerged as a regime-linked financier to help the country evade sanctions.
- The U.S. warns global financial institutions against engaging with entities tied to Zanjani, signaling heightened scrutiny of Iran-linked cross-border transactions.
Sanctions action under Executive Order 13902
As reported by the United States Department of State, the measures are intended to hold Zanjani and his network accountable for helping the Iranian regime evade sanctions and finance destabilizing activities, including support for the Islamic Revolutionary Guard Corps.The statement says Zanjani has re-emerged as a regime-linked financier despite previously receiving a death sentence in Iran for embezzlement. It says the case illustrates how state-affiliated elites seek to preserve access to the international financial system while the Iranian economy is being mismanaged.
The action is being taken under Executive Order 13902, which targets Iran's financial, petroleum and petrochemical sectors. The order is aimed at restricting revenue that could support Iran's nuclear, missile and terrorist activities.
Global compliance warning and regional implications
The United States is calling on governments and financial institutions worldwide not to engage with entities connected to Zanjani or with broader networks that support Iran's security apparatus. The statement frames the sanctions as part of a wider effort to expose and disrupt channels that provide resources to the regime and its proxies.For the financial sector, the announcement signals continued U.S. scrutiny of cross-border dealings involving Iran-linked intermediaries. The State Department also directs readers to a Department of the Treasury press release for further details on the action.
In our earlier article on Secretary of State Marco Rubio’s hard-line stance on Iran, we noted Washington’s intent to keep raising pressure unless Tehran reaches a deal and to push back against threats to global shipping through the Straits of Hormuz. The report also highlighted the wider regional and economic spillovers, including energy-security concerns for key partners such as Japan and the role of Iran-aligned proxies in escalating risks.
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