Four people, nine entities tied to Iran financial evasion network sanctioned by US Treasury

The US Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned four individuals and nine entities on Friday, linked to an Iranian financial evasion network. This network, led by financier Babak Zanjani, enabled the Iranian regime to bypass sanctions and support the Islamic Revolutionary Guard Corps (IRGC) through various revenue methods, including digital asset trading via companies like Zedcex and Zedxion. Zanjani, previously convicted of embezzlement in Iran, re-emerged as a financier, demonstrating the regime's efforts to access international finance. These sanctions are part of a broader initiative to prevent funding for Iran's nuclear, missile, and terror activities, and aim to "further pressure" Iran following recent regional attacks. US Treasury Secretary Scott Bessent stated, "The Iranian regime continues to pay a steep economic price for its reckless behavior."