1. Babak Zanjani is an Iranian billionaire and business magnate.
14 Facts About Babak Zanjani
1. 2.
Babak Zanjani was the managing director of the UAE-based Sorinet Group, one of Iran's largest business conglomerates.
3.
Several commentators have stated that Zanjani is perhaps a "fall guy" for corruption scandals in Iran.
4.
Babak Zanjani owned Qeshm Air and Rah Ahan Sorinet FC in Iran.
5.
In 2013, Babak Zanjani stated that his net worth was $13.5 billion.
6.
Babak Zanjani was named in the restrictive measures against Iran in December 2012 by the Council of the European Union on the grounds that he "is assisting designated entities to violate the provisions of the EU regulation on Iran and is providing financial support to the government of Iran".
7.
Babak Zanjani was claimed to be "a key facilitator for Iranian oil deals and transferring oil-related money".
8.
Babak Zanjani denied the accusation, declining any ties with the Iranian government and calling the Europeans' decision "a mistake".
9.
Babak Zanjani said the complex nature of his companies' large sums of transactions might have misled EU authorities.
10.
In January 2013, an Iranian news website, Baztab, reported that Babak Zanjani holds a Danish passport in addition to his Iranian one, a claim which Babak Zanjani later denied.
11.
On 30 December 2013, Babak Zanjani was arrested by Iranian police for his alleged role in the "gold for gas" sale of Iranian oil that avoided international sanctions in schemes Turkey and Malaysia.
12.
On 30 April 2024, Babak Zanjani's sentence was commuted to 20 years' imprisonment after returning around $2.1 billion in assets from illegally selling oil.
13.
Reports from IranWire revealed that Babak Zanjani retained stakes in at least 11 companies in Iran, suggesting a broad and active business portfolio.
14.
Babak Zanjani's resurgence sparked criticism across the political spectrum, including from conservative figures, who viewed the railway deal as a potential liability for President Masoud Pezeshkian's administration.