Overview
- On Friday, July 10, the U.S. Treasury’s OFAC designated Dubai-based Ali Ansari and several Iran-based exchange houses and front companies, blocking their U.S. property and barring transactions by U.S. persons.
- U.S. officials say Ansari diverted publicly funded wealth into a global portfolio of real estate and commercial holdings across Europe and the Gulf, and that he was a principal shareholder of the failed Ayandeh Bank.
- OFAC named three Iranian currency exchange firms—Mohammad Darbani and Partners, Lavasani and Partners, and Mohsen Khandan and Partners—and cited linked front firms in Hong Kong and the UAE that allegedly moved billions for sanctioned Iranian banks.
- The administration used multiple executive orders to freeze assets and warned foreign banks that significant dealings with the designees could trigger secondary sanctions, while also issuing a wind-down license for a Saint Kitts and Nevis holding company.
- Enforcers face hurdles because assets are held through shell companies and offshore jurisdictions, legal fights are likely, and the measures could squeeze Iran’s access to cash, affect international banks and property markets, and reduce resources available to regime insiders.