The U.S. Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals and nine entities linked to Babak Zanjani’s sanctions evasion network. Zanjani, a former Iranian oil company official, has used financial services, gold production, digital assets, and infrastructure projects to obscure funds and evade sanctions. Secretary Scott Bessent noted Iran’s economic decline, emphasizing continued efforts to cut off regime elites. Designations include Zanjani’s ‘Dot One’ conglomerate, digital asset exchanges Zedcex and Zedxion, and supporting entities like Zedpay and BZ Diamond. OFAC actions target Zanjani’s role in laundering funds for the Islamic Revolutionary Guard Corps. Sanctions block assets of designated persons and prohibit transactions involving them. Violations may result in civil or criminal penalties, with OFAC emphasizing enforcement of economic sanctions.
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