Babak Zanjani

Babak Zanjani is an Iranian businessman who became an intermediary for sanctioned oil sales and cross-border payments, was convicted in Iran over unreturned proceeds, and later reappeared in commercial activity linked to Dot One entities. His Iranian criminal case and US administrative sanctions are separate proceedings.

Oil and financial intermediation

The US Treasury designated Zanjani and specified Sorinet entities in April 2013, alleging that they moved funds for sanctioned Iranian oil companies through banks and trading firms. The designation did not convert every company associated with him into the same legal entity. It also did not adjudicate the later Iranian charge that he failed to return oil-sale revenue.

Iranian authorities arrested Zanjani in 2013 and a Revolutionary Court sentenced him to death in 2016. Iran's judiciary announced on 30 April 2024 that the sentence had been commuted to twenty years after assets were returned. That domestic conviction and commutation should not be restated as an OFAC finding.

Current status

US Treasury actions on 30 January and 24 July 2026 described Zanjani's renewed role and designated persons and entities associated with Dot One and other alleged financial channels. The July action covered four individuals and nine entities. Those are current Treasury allegations and administrative measures, not new criminal judgments against Zanjani.

Within Iranian sanctions-evasion networks (2012-present), Zanjani illustrates the monitoring problem created when a state relies on opaque private intermediaries. He can be an adapter and intermediary without every act being directed by Iran. The case also informs Sanctions evasion as system design and the earlier United States-led financial pressure campaign against Iran (2006-2015).

See also

Iranian sanctions-evasion networks (2012-present) · United States-led financial pressure campaign against Iran (2006-2015) · Sanctions evasion as system design · Iran

Sources

• US Department of the Treasury, "Treasury Targets Network Attempting to Evade Iran Sanctions" (11 April 2013).
• Associated Press, "Iran commutes a tycoon's death sentence to 20 years in prison" (30 April 2024).
• US Department of the Treasury, "Treasury Sanctions Iranian Regime Officials for Violent Repression and Corruption" (30 January 2026).
• US Department of the Treasury, "Treasury Further Dismantles Iranian Financier Zanjani's Network" (24 July 2026).