What happened
According to TRM Labs, OFAC has blacklisted the gold sector, payments, and transport assets within Babak Zanjani's ecosystem.
Why it matters
The expansion of sanctions to commodity and transport assets sets a precedent for deeper regulatory penetration into the real economy standing behind crypto assets, depriving networks of support through gold and logistics.
The US Department of the Treasury, through the Office of Foreign Assets Control (OFAC), has decided to expand sanction pressure on the network associated with Babak Zanjani. According to a report by analytics firm TRM Labs, the new restrictions extend beyond the previously affected Zedcex platform and now encompass a commercial ecosystem including gold operations, payment systems, and the transportation sector.
This action marks a shift from targeted blockades to the comprehensive dismantling of the infrastructure supporting the subject's activities. The inclusion of real-world assets and logistical chains in the sanctions list complicates the ability to bypass restrictions through traditional financial channels.
It is important to note that this information is based exclusively on the primary TRM Labs report published on July 24, 2026. Currently, there are no independent confirmations or detailed lists of specific legal entities from other sources, necessitating caution when interpreting the full scale of the consequences.
Confirmed facts
- OFAC expanded sanctions against Babak Zanjani's network.
- New sanctions affect the gold, payments, and transportation sectors.
- Actions extend beyond the Zedcex platform.
- Information was published by TRM Labs on July 24, 2026.
Context
Babak Zanjani was previously known for his legal proceedings in Iran related to oil contracts. The Zedcex platform was positioned as part of his digital ecosystem. Current actions by the US Treasury indicate an attempt to eliminate remaining commercial funding pathways for this network.
What remains unknown
- Which specific companies or individuals were included in the new sanctions list?
- How exactly will mechanisms for blocking transactions involving physical gold be implemented in this context?
- Will regulators in other jurisdictions follow with similar actions?
Editorial context
Confidence: medium
The most likely consequence will be a sharp reduction in liquidity for assets associated with this network and a forced restructuring of their commercial ties. The next observable signal will be official publications in the US Federal Register containing a named list of new subjects. The key uncertainty lies in the network's ability to quickly pivot to jurisdictions that do not cooperate with the US on enforcing commodity sanctions.