Washington imposes sanctions on 9 companies and 4 individuals for their ties to an Iranian entity listed on US sanctions lists

Washington, 24 July (KUNA) -- The United States announced on Friday the imposition of sanctions on nine companies and four individuals linked to the network of Iranian businessman Babak Zanjani, who has been on U.S. sanctions lists since January last year, for their role in helping him evade sanctions. The U.S. Department of the Treasury said in a statement that the sanctions imposed by the Office of Foreign Assets Control (OFAC) targeted key elements of Zanjani’s extensive network, which was used to circumvent U.S. sanctions. It added that Zanjani relied on a diverse range of business activities, including financial services, gold and gemstone production, and trading in digital assets, alongside projects in the transport and infrastructure sectors, to conceal ownership, launder proceeds, and expand his ability to secretly move funds within and outside Iran. The statement quoted U.S. Treasury Secretary Scott Bessent as saying that “the Iranian regime continues to pay a heavy economic price for its reckless behavior,” pointing to the rial’s decline to record lows and rising inflation rates. Bessent affirmed that the Treasury Department would continue targeting networks that enable the Iranian regime, its financiers, and its facilitators to access financial resources, thereby strengthening the implementation of U.S. sanctions. (End) R.S.R. / M.N.F.