Last Updated: July 26, 2026

Babak Morteza ZANJANI

Nationality

Iran; United Arab Emirates

Date of birth

1974-03-12

Place of birth

Tehran, Iran

Sex

Male

Address

United Arab Emirates

Function

Business

Official reason

OFAC also designated Babak Morteza Zanjani, a criminal Iranian investor who previously embezzled billions of dollars in Iranian oil revenue that rightfully belonged to the Iranian people and was never fully recovered. Freed from imprisonment in order to launder money for the regime, Zanjani has provided financial backing for major projects that support the Islamic Revolutionary Guard Corps (IRGC) and the Iranian regime more broadly. Babak Morteza Zanjani (Zanjani) is an Iranian businessman and sanctions evader. He is active in multiple fields including hospitality, transportation, technology, financial services, and oil exports. In March 2016, Zanjani was sentenced to death in Iran for embezzling billions of dollars from Iran’s National Oil Company, funds that rightfully belong to the Iranian people. His sentence was commuted in 2024, and in April 2025, Zanjani served as a financial backer of one of Iran’s largest railway investments in history. OFAC is designating Babak Morteza Zanjani, Zedcex Exchange, Ltd., and Zedxion Exchange, Ltd. pursuant to E.O. 13902 for operating in the financial sector of the economy of Iran

Sender

Additional info

Subject to Secondary Sanctions

Other Information

https://home.treasury.gov/news/press-releases/sb0375

Date of listing

2026-01-30

Program information

Authority

Program

Executive Order 13902 of January 10, 2020 Imposing Sanctions With Respect to Additional Sectors of Iran

Regime

OFAC country specific

Target State

Iran

Measures

Blocking Property, Suspending Entry, Trade sanctions

Sanctions Portfolio

• https://ofac.treasury.gov/faqs/topic/1551

Official Information

E.O. 13902 imposes sanctions with respect to any person determined by the Secretary of the Treasury, in consultation with the Secretary of State, to operate in the construction, mining, manufacturing, and textiles sectors of the Iranian economy, and any additional sectors of the Iranian economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State. On October 8, 2020, the Secretary of the Treasury identified the financial sector of the Iranian economy for additional sanctions under E.O. 13902. Iranian and non-Iranian persons operating in these sectors could be subject to sanctions pursuant to E.O. 13902.

Additional Details

SDN

Program URL

https://ofac.treasury.gov/media/31406/download?inline

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