With its toughest sanctions yet, the administration of US President Donald Trump is seeking to force Iran's leadership into submission.
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administration → seek → submission
The measures, dubbed "economic D-Day" sanctions, are intended to achieve what military pressure since February has failed to accomplish.
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pressure → dub → February
In addition to targeting Iran's key sources of revenue and trade, including oil, banking, gold, shipping, aviation and certain technology sectors, US authorities are increasingly focusing on cryptocurrencies.
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authorities → target → cryptocurrencies
Digital currencies such as bitcoin, which operate outside the traditional banking system and dollar-based financial networks, are being used by Iran for money transfers, trade transactions and, increasingly, oil-related business.
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which → operate → transfers
An opaque network to help Tehran bypass sanctions
Iran also appears to be exploring cryptocurrencies as a way to secure oil shipments passing through the Strait of Hormuz.
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Iran → help → Hormuz
According to the Fars News Agency, which is close to Iran's Revolutionary Guards, the idea was proposed by Babak Zanjani.
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idea → accord → Zanjani
The 53-year-old billionaire was released from prison last year and remains one of the most prominent figures in a network that has grown over decades and helped Iran navigate international sanctions.
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Iran → release → sanctions
Individuals within these networks enjoy support and protection from influential figures inside the Islamic Republic.
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Individuals → enjoy → Republic
In return, they are believed to share part of their profits with powerful patrons within the system.
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they → believe → system
"Among these people, Zanjani belongs to an economic elite with innovative ideas and has repeatedly demonstrated his capabilities in the past," said Behzad Ahmadinia, an Iran-born journalist based in Cyprus who specializes in the oil and energy sector.
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who → belong → sector
"It appears that the regime has decided to overcome internal rivalries and rely on professionals and experts who can work more efficiently than others and take over key positions.
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who → appear → positions
"
Selling oil barrels on the black market
Iran can draw on decades of experience in operating under sanctions.
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Selling → sell → sanctions
The system extends far beyond individual businessmen and includes a vast network of companies, financial channels and personal connections.
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system → extend → companies
Corruption and a lack of transparency are widely regarded as structural problems within Iran's political and economic system.
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Corruption → regard → system
Transparency International's Corruption Perceptions Index 2025 gave Iran a score of 23 out of 100 and ranked it 153rd out of 182 countries, indicating a very high perceived level of public-sector corruption.
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Index → give → corruption
Zanjani reportedly controlled a business empire of around 60 companies, including entities in Malaysia, Tajikistan, Turkey and the United Arab Emirates.
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Zanjani → control → Malaysia
Many of these firms were later sanctioned by the United States.
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Many → sanction → States
Through this network, Zanjani began selling billions of barrels of Iranian oil on the black market during the presidency of Mahmoud Ahmadinejad, while also importing a wide range of goods, including aircraft, into Iran.
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Zanjani → begin → Iran
In 2016, however, he became entangled in Iran's internal power struggles.
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he → become → struggles
Authorities accused him of failing to return around $2.6 billion (€2.24 billion) in oil revenues to the Iranian state.
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Authorities → accuse → state
After a highly publicized trial in one of the country's biggest corruption cases, he was sentenced to death.
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he → publicize → death
For years, he disputed claims over the missing funds and negotiated with Iranian authorities.
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he → dispute → authorities
US gains insight into sanctions evasion routes
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US → gain → routes
He was arrested in the United States in 2016 while on vacation and accused of money laundering and violating US sanctions on Iran.
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He → arrest → Iran
Zarrab had built an extensive network in Turkey and possessed detailed knowledge of the financial and trading mechanisms Iran used to bypass sanctions.
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Iran → build → sanctions
Cases such as his gave US authorities valuable insight into how Iranian sanctions evasion networks operate, allowing Washington to target them more effectively.
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Washington → give → them
Zarrab later cooperated with US investigators and was released from custody.
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Zarrab → cooperate → custody
According to reports, he now lives in the United States under a new identity.
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he → accord → identity
"People like Zarrab or Zanjani are cultivated within the system and maintain connections to different centers of power," France-based economist Jamshid Assadi told DW.
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Assadi → cultivate → DW
According to reports, Zanjani's rise began some 30 years ago during his military service, when he worked as a driver for the governor of Iran's central bank.
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he → accord → bank
The position is said to have opened doors to influential circles and provided him with key business contacts.
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position → say → contacts
How many billions of dollars flowed through his network and companies, and how much he personally earned from those activities,
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he → flow → activities
In February 2024, Iranian media reported that assets linked to Zanjani had been repatriated from abroad.
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assets → report → Zanjani
His wealth, they said, had grown beyond the value of his outstanding liabilities.
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they → say → liabilities
In 2025, he was released from prison and quickly returned to the business world.
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he → release → world
Through one of his companies, he signed a multibillion-dollar contract with Iran's state railway operator.
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he → sign → operator
At the same time, Zanjani has sought to reinvent himself.
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Zanjani → seek → himself
In an open letter to US business magnate Elon Musk, he offered his company as a bridge for economic cooperation between Iran and the United States.
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he → offer → Iran
He now presents himself as an entrepreneur, mediator and advocate of dialogue.
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He → present → dialogue
After the United States placed Zanjani back on its sanctions list in January 2026, Washington expanded its measures in July to target a broader network of companies and business associates linked to him.
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Washington → place → him
…and 10 more, not listed.
