New US sanctions target Baitbank and three Iranians
New US sanctions target Baitbank and three Iranians
2026-09-18
Shafaq News – Washington
The US Treasury Department announced on Thursday evening that it had imposed sanctions on the Iranian digital asset platform BitBank, its developer, and three individuals, accusing them of facilitating the circumvention of sanctions and the transfer of hundreds of millions of dollars in Bitcoin to the Iranian Revolutionary Guard.
The ministry said in a statement that the platform is controlled by Iranian businessman Babak Zanjani, who was previously listed on US sanctions lists, and that the new measures target a digital financial network used by Tehran to launder money and finance entities linked to the Iranian regime.
The sanctions included Peshtaz Simorgh E-Commerce, the developer of the platform’s software, along with Hossein Ali Zaker Hossein, Mohammad Mehdi Zaker Hossein, and Seyed Adel Heidari, whom the ministry described as Zanjani’s top associates in the sanctions evasion network.
U.S. Treasury Secretary Scott Bessent said: “Today’s actions make it clear that attempts to finance the Iranian regime using cryptocurrencies are not beyond the reach of the Office of Foreign Assets Control,” adding: “If you support the Iranian regime, the Treasury Department will impose sanctions on you.”
According to the statement, Zanjani used the BitBank platform during June and July of this year to facilitate the transfer of hundreds of millions of dollars’ worth of Bitcoin to the Revolutionary Guard.
The ministry added that the “Hormuz Secure Maritime Services Authority,” which is also subject to US sanctions, has used the platform since June to transfer payments it received to the Iranian regime.
The measures are part of an economic campaign launched by President Donald Trump’s administration called “the pariah state,” which, according to the Treasury, aims to cut off the funding channels that Iran and its networks rely on to circumvent sanctions.
The ministry explained that the campaign, which was announced on August 24, 2026, targets oil smuggling networks, intermediaries, and financial channels that Washington accuses of providing illicit revenue to Tehran, in cooperation with US government agencies and partners in the European Union, Britain, and the Gulf states.
The Office of Foreign Assets Control (OFAC) had previously imposed sanctions on companies and intermediaries linked to Zanjani in January and July of this year.
The Treasury stated that Zanjani, who was sentenced to death in Iran in 2016 for embezzling funds from the National Iranian Oil Company, had his sentence commuted in 2024, then reappeared publicly the following year as a supporter of economic projects linked to the regime.
She added that, in addition to infrastructure and transportation projects, he established a network of digital asset companies that were partly used to launder money for the Revolutionary Guard.
The company that developed the “Bitbank” platform is affiliated with the “Dot One” group, which is listed on sanctions lists.
Mohammed Mahdi Zakir Hussain serves as the CEO of the developing company, while Syed Adel Haidari holds the position of Vice Chairman of the Group’s Board of Directors.
As for Hossein Ali Zakir Hossein, the Treasury accuses him of participating in activities that included exporting Iranian oil and mediating transactions with digital assets whose proceeds ended up in the hands of the Revolutionary Guard.
Under the announced procedures, the assets and financial interests of the targeted entities and individuals that are located in the United States or are in the possession or control of American persons will be frozen.
The restrictions also include entities that are 50% or more owned, directly or indirectly, by one or more persons subject to the freeze.
The Treasury warned that facilitating money laundering or sanctions evasion on behalf of Iran could expose those involved to being denied access to the U.S. financial system, stressing that its actions will also include international parties that support Iran’s digital asset network.
shafaq.com
