The U.S. Treasury Department said its Office of Foreign Assets Control, or OFAC, has taken another step against the network linked to Iranian financier Babak Zanjani. According to the announcement, the action designates four individuals and nine entities described as important parts of his broader sanctions evasion structure.
Treasury said the latest designations are aimed at dismantling key components of a network that has helped Zanjani operate despite U.S. restrictions. The department indicated that the financier has relied on a diverse portfolio of businesses and related structures as part of that effort.
The move adds pressure to a system U.S. officials say has been used to bypass sanctions tied to Iran. By targeting both people and companies connected to the network, OFAC is seeking to disrupt the channels that allegedly support its operations.
The July 24 action signals that U.S. authorities are continuing to pursue not just high-profile figures but also the wider commercial web around them. Treasury framed the designations as part of an ongoing effort to break apart sanctions evasion networks connected to Iran.
