From Death Row to Crypto: Babak Zanjani's Role in Iran's Sanctions Evasion Network
Once sentenced to death for corruption, the Iranian billionaire is now suspected by Washington of running a cryptocurrency platform tied to oil transit payments.
Babak Zanjani, an Iranian billionaire once central to helping Tehran circumvent international oil sanctions, is now suspected by Washington of overseeing a cryptocurrency platform linked to payments for transit through the Strait of Hormuz, according to France 24.
Zanjani built his reputation as an architect of schemes that allowed Iran to bypass the oil embargo imposed by Western powers, work that later led to his downfall when he was sentenced to death in 2016 in a corruption case.
Despite the death sentence, Zanjani made what France 24 describes as an unexpected return to prominence, with US authorities now examining his alleged role in a cryptocurrency operation tied to sanctions evasion.
The report indicates Washington believes the platform manages payments connected to transit through the Strait of Hormuz, a critical waterway for global oil shipments that has repeatedly featured in tensions between Iran and Western nations.
France 24 did not detail the current legal status of Zanjani's death sentence or specify what formal actions, if any, US authorities have taken regarding the alleged cryptocurrency platform.
Sources
- Du couloir de la mort aux cryptos : Babak Zanjani, homme clé de l'Iran pour contourner les sanctions — France 24 — Français
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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