Thursday, May 23, 2019 05:30

Businessman sees upside of sanctions

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Babak Zanjani

Iranian 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.

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.