U.S. Sanctions Iranian Financier Babak Zanjani, Expands Pressure on Regime’s Financial Networks

By Amr Gohar

WASHINGTON , The United States has imposed new sanctions targeting Iranian businessman Babak Zanjani and a network of individuals and companies accused of helping Tehran evade international sanctions and finance activities linked to the Islamic Revolutionary Guard Corps (IRGC).

The measures target four individuals and nine entities connected to Zanjani’s financial network, in what U.S. officials described as another step to increase economic pressure on the Iranian government.

According to the U.S. government, Zanjani’s return as a financier for the Iranian regime—despite previously receiving a death sentence in Iran on embezzlement charges—illustrates how state-linked figures continue to seek access to the international financial system while Iran faces growing economic challenges.

U.S. officials said the sanctions also respond to what they described as Iran’s destabilizing activities, including attacks on commercial vessels transiting the Strait of Hormuz and actions against neighboring countries.

“The United States is holding Babak Zanjani and his sprawling network accountable for enabling the Iranian regime to evade sanctions and finance its destabilizing activities, including supporting the Islamic Revolutionary Guard Corps,” the U.S. government said in announcing the measures.

Washington urged governments, banks, and financial institutions worldwide to avoid doing business with companies and individuals linked to Zanjani or broader networks that support Iran’s security apparatus.

The sanctions were imposed under Executive Order 13902, which targets Iran’s financial, petroleum, and petrochemical sectors. U.S. officials said the objective is to deny Tehran revenue that could be used to fund its nuclear program, ballistic missile development, and support for groups designated by the United States as terrorist organizations.

The Treasury Department released additional details identifying the sanctioned individuals and entities as part of the latest effort to disrupt financial networks supporting the Iranian government.