On July 24, 2026, the Department of the Treasury’s Office of Foreign Assets Control designated four individuals and nine entities that it identified as key components of Babak Zanjani’s broader Iranian sanctions evasion network. Treasury said Zanjani used financial services, gold and precious gem production, digital asset trading, and transportation and infrastructure projects to obscure ownership, launder revenue, and move funds covertly through Iran and offshore.

Under President Trump’s leadership, Treasury will continue cutting off economic access for corrupt Iranian regime elites, along with their financiers and facilitators.

The action targets Zanjani’s Iran-based operations under the “Dot One” conglomerate and companies outside Iran that supported his OFAC-designated digital asset exchanges, Zedcex Exchange Limited and Zedxion Exchange Limited. OFAC designated Zanjani, Zedcex, and Zedxion on January 30, 2026. Treasury said multiple addresses attributed to the exchanges processed funds for wallets attributed to the Islamic Revolutionary Guard Corps. Zanjani was sentenced to death in Iran in 2016 for embezzling millions from the OFAC-designated National Iranian Oil Company; his sentence was commuted in 2024.

The Dot One conglomerate

Treasury said Zanjani re-entered public view after his commutation through multiple Iran-based Dot One projects. He served as both a public-facing chief executive and covert financial backer, and promoted the ventures on social media, including an April 2025 $800 million rail contract that Dot One Rail Company secured with the Islamic Republic of Iran Railways. Dot One Value Creation Group, based in Tehran’s Dot One tower, is the conglomerate’s primary holding company. Treasury said Zanjani was appointed its CEO as early as 2024 and retains control. DotOne Gold Company produces and holds gold bars and is integral to Tala Token, an allegedly gold-backed digital asset.

  • DotOne Value Creation Group and DotOne Gold Company were designated for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zanjani.
  • DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company, and DotOne Trip were designated for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Dot One Value.
  • Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi, Zedx DMCC, and BZ Diamond FZCO were designated for their reported support of Zedxion or Zedcex.

OFAC also designated Mehdi Rezazadeh, chairperson of Zedpay; Sukhrob Oimakhmadov, manager of Zedx; Bahareh Morteza Zanjani, manager of BZ Diamond and Zanjani’s sister; and Solmaz Bani, who registered websites for Zanjani’s companies. Treasury said Zedpay provided digital wallet, fiat settlement, and cross-border payment services integrated with Zedxion. It said BZ Diamond promoted Zedxion’s NFT marketplace, offered a BZ Diamond token on its blockchain, and conducted transactions with Zedxion and Zedcex wallets.

Sanctions implications

As a result of the action, all property and interests in property of the blocked persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Entities owned directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized or exempt, OFAC regulations generally prohibit transactions by U.S. persons or within or transiting the United States involving property or interests in property of designated or otherwise blocked persons. Violations may result in civil or criminal penalties, and OFAC may impose civil penalties on a strict liability basis.