Overview
- The Treasury and State Departments designated four individuals and nine entities tied to Babak Zanjani’s Dot One network, a step announced on July 24 that broadens sanctions first applied to Zanjani and two exchanges in January.
- Named targets include Dot One Value Creation Group, Dot One Gold Company, Zedpay and its chair Mehdi Rezazadeh, Zedx DMCC and its manager Sukhrob Oimakhmadov, BZ Diamond and manager Bahareh Morteza Zanjani, and Zanjani’s partner Solmaz Bani.
- U.S. officials say the network used a mix of corporate vehicles, gold and gem operations, transport projects, and digital asset platforms to move revenue covertly and to provide funds to the Islamic Revolutionary Guard Corps.
- The action highlights crypto links in the scheme: Treasury previously sanctioned Zedcex and Zedxion and U.S.-facing reporting shows those exchanges processed roughly $94 billion in transactions since 2022 while Treasury also flagged a gold-backed Tala Token.
- The designations were issued under Executive Order 13902 and raise concrete compliance and secondary‑sanctions risks for banks, crypto platforms, and counterparties that continue to deal with the named firms or connected infrastructure.