US Targets Iranian Elites' Offshore Wealth

Sep 2, 2026

83 min

Sep 2, 2026 06:30

Bessent warns Iranian elites: ‘We know where your money is’ as US targets offshore fortunes

## US Intensifies Economic Pressure on Iran

The United States is ramping up efforts to target the offshore assets of Iran's ruling elite. Treasury Secretary Scott Bessent has issued a stern warning to Iranian officials, indicating that the US is aware of their hidden wealth in offshore accounts and luxury properties. This move is part of "Operation Economic Outcast," aimed at financially isolating Tehran.

## Offshore Assets in Focus

Bessent highlighted that the US has identified assets held by Iranian elites in locations such as the British Virgin Islands. The US plans to freeze these assets, which they claim have been stolen from the Iranian people. The initiative seeks to dismantle financial structures that conceal these fortunes, with the possibility of redirecting recovered assets to benefit the Iranian populace or victims of terrorism.

## Expanding Sanctions

The US strategy goes beyond traditional sanctions, targeting individual financiers and networks that support the Iranian regime. Recent actions include sanctions against Iranian financier Ali Ansari and businessman Babak Zanjani, both accused of using complex networks to hide assets.

## Economic Isolation

Bessent warned that the US could cut off Iranian-linked entities from the global dollar-based financial system, a move that could severely impact Iran's economy. Additional sanctions are being prepared against an Iranian bank, and companies linked to Iran's Revolutionary Guard Corps may also face penalties.

## Iran's Response

Iran has downplayed the impact of these measures, with Central Bank Governor Abdolnaser Hemmati stating that the country still has sufficient foreign currency reserves. However, the economic strain from sanctions and blockades is acknowledged. The situation is further complicated by escalating military tensions between the US and Iran.

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