Daily Compliance Brief — OFAC Expands Iran-Related Sanctions Network

July 24, 2026

Signal

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced new Iran-related sanctions on 24 July 2026 targeting a network associated with Iranian financier Babak Zanjani. According to the U.S. Treasury's OFAC Recent Actions publication, the measures designate nine companies and four individuals alleged to have facilitated sanctions evasion and generated revenue benefiting the Iranian regime.

The action extends beyond individual designations by targeting interconnected commercial structures, including financial services, digital asset activities, and international corporate entities. The breadth of the network highlights the continued supervisory focus on complex ownership structures and cross-border sanctions evasion.

The development underscores the importance of identifying indirect exposure through affiliated entities, beneficial ownership, and interconnected counterparties rather than relying solely on direct name screening.

Why it matters

Organizations should review sanctions screening processes to ensure they can identify newly designated entities as well as relationships involving ownership, control, or other indirect connections to sanctioned parties.

Control environments should support enhanced due diligence, escalation, and ongoing monitoring where customers or counterparties operate in sectors or jurisdictions that may present elevated Iran-related sanctions risk. Independent validation of sanctions controls remains essential following significant OFAC designation updates.