US sanctions financier Ali Ansari and Iran exchange houses

The United States imposed new sanctions on July 10 targeting a key Iranian financier and a network of exchange houses, intensifying economic pressure on Tehran amid renewed military clashes in the Persian Gulf. The sanctions designate Ali Ansari, an Iranian banker based in Dubai, along with 13 other individuals and entities, accusing them of operating a global financial network for the benefit of Iran's new Supreme Leader, Mojtaba Khamenei, and the Islamic Revolutionary Guard Corps (IRGC).

According to the U.S. Treasury Department, Ansari diverted publicly funded wealth into an extensive overseas portfolio of real estate and commercial holdings across Germany, Luxembourg, Spain, the United Kingdom, Cyprus, and the United Arab Emirates. The Treasury alleges he used numerous shell companies and bank accounts, accumulating millions of dollars in assets under a Saint Kitts and Nevis-based holding company called Smart Global Limited. Officials stated that while held in Ansari's name, many of these financial interests ultimately benefit Khamenei, his family, and other Iranian elites.

The Treasury's Office of Foreign Assets Control also sanctioned three Iran-based exchange...