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Iranian Businessman Sees Upside Of Sanctions


Source: Radio Zamaneh

Iranian billionaire businessman Babak Zanjani says being blacklisted by the U.S. and the EU will mean great publicity for him. On Thursday, the U.S. Treasury Department imposed sanctions on Zanjani, along with a network of companies, for their alleged support of the National Iranian Oil Company.

Babak Zanjani (left) with Hassan Mir Kazemi (photo: Baztab)
Mir Kazemi's photo with a handgun had been widely shared on social media during the 2009 post election crackdown.

Zanjani had already been targeted by EU sanctions in December, following the European Union's accusations that he is a "key facilitator for Iranian oil deals."

In an interview with Reuters, Zanjani denied any wrongdoing, saying: "We haven't had any problems in our business since the EU ban. Actually, business is much better since December. Sanctions have provided publicity for us."

Zanjani told Reuters: "I am Iranian and inevitably I work with Iranian companies. Despite that, I am not assisting the Iranian government in anyway."

Zanjani owns several companies in Iran, UAE and Turkey.

Related Article: Iranian tycoon claims EU sanctions are unfair
Iranian billionaire businessman Babak Zanjani has amassed the kind of fortune that could qualify him for a place on Forbes rich list. Instead he is on an EU sanctions list, accused of facilitating illicit oil deals for the Islamic Republic. -Fardad Fahrazad, BBC

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