U.S. sanctions Iranian financier, exchange houses over attacks in Strait of Hormuz
The United States has imposed sanctions on Iranian financier Ali Ansari and several currency exchange houses accused of moving billions of dollars for sanctioned banks, following Iran’s resumption of attacks on international shipping in the Strait of Hormuz, the Treasury Department announced Friday.
The sanctions targets Ansari, his Saint Kitts and Nevis-based holding company, three Iranian exchange houses, seven of their executives and two front companies in Hong Kong and the United Arab Emirates.
Treasury accused Ansari, an Iranian national based in Dubai, of using his ties to senior officials to divert public money into a global portfolio of real estate and commercial properties for himself, Iranian leader Mojtaba Khamenei, his family and other regime figures, including members of the Islamic Revolutionary Guard Corps (IRGC).
Ansari previously owned and directed Ayandeh Bank, which was already under U.S. sanctions before the Iranian government forced its dissolution in October 2025. According to the Treasury, the bank accumulated billions of dollars in debt after issuing Central Bank-backed loans to companies and commercial ventures controlled by Ansari.
Treasury said Ansari used shell companies and bank accounts across several jurisdictions to invest millions of dollars through Smart Global Limited, a holding company established in Saint Kitts and Nevis in 2011. Its holdings include properties in Germany, Luxembourg, Spain, the United Kingdom, Cyprus and the United Arab Emirates.
Although many of the assets are registered in Ansari’s name, Treasury said they are ultimately held for the benefit of Khamenei, his family and other Iranian elites who protected Ansari from punishment over the collapse of Ayandeh Bank.
“The so-called Supreme Leader is hiding in seclusion while his regime crumbles,” Treasury Secretary Scott Bessent said. “Treasury will continue using every tool at its disposal to isolate him and other regime elites from the global financial system. We will preserve these assets for the Iranian people.”
The sanctions also target the Darbani, Lavasani and Khandan exchange houses, which Treasury said have moved hundreds of millions of dollars in foreign currency for sanctioned Iranian banks over the past several years. Together, Iranian exchange houses move and maintain the equivalent of billions of dollars annually through layers of shell and front companies, according to the department.
Khandan Exchange alone holds more than $117 million in foreign currency for sanctioned banks, while Lavasani Exchange held hundreds of millions of dollars as of early 2026. Darbani Exchange held tens of millions of dollars for sanctioned Iranian bank customers during the same period.
Also sanctioned were Hong Kong-based CDM Trading Limited and UAE-based Naba Alzaki Raw Materials Trading LLC, which Treasury described as front companies used by Iranian exchange houses to carry out transactions.
The sanctions block any property or financial interests belonging to those designated that are in the United States or controlled by U.S. persons. They also generally prohibit transactions involving them through the U.S. financial system.
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Ella Rae Greene, Editor In Chief
