The United States has sanctioned Ali Ansari, a Dubai-based Iranian banker, accusing him of turning public money into a private overseas property portfolio for Iran’s ruling elite. The Treasury announced the designation on 10 July as part of a package targeting 14 individuals and entities.
According to Reuters, Treasury described Ansari as a financier for Supreme Leader Mojtaba Khamenei. It alleges he diverted publicly funded wealth into real estate and commercial holdings abroad that enriched himself, senior officials and the Islamic Revolutionary Guard Corps (IRGC). Britain had already sanctioned him for supporting the Revolutionary Guards.
The holding structure
Treasury says the assets were held through Smart Global Limited, a holding company registered in St Kitts and Nevis in 2011, which invested in real estate and commercial property in Europe, the Gulf and elsewhere. Ansari allegedly used a web of shell companies and bank accounts in several jurisdictions to assemble the holdings. None of the sources TradeWar reviewed identifies specific buildings or their value.
Ansari formerly owned and ran Ayandeh Bank, which was already under US sanctions and was shut on Iranian government orders in October 2025. Treasury says the holdings were in his name but were ultimately kept for the benefit of Khamenei, his family and other elites.
To give counterparties time to exit, OFAC issued General License Y authorising wind-down transactions involving Smart Global and companies it owns at least 50%, until 9 August 2026, law firm Baker McKenzie reported. Payments due to blocked persons must go into blocked accounts.
By naming a property holding vehicle, Washington is warning landlords, lenders and agents in Europe and the Gulf that their tenants and buyers are now part of its sanctions perimeter.
Diplomatic fallout
The same action targeted Iranian exchange houses and front companies in Hong Kong and the UAE that Treasury says moved billions of dollars a year for sanctioned Iranian banks. It came after renewed Iranian attacks on tankers in the Strait of Hormuz. Iran’s foreign minister Abbas Araqchi accused Washington of breaching Article 9 of a US–Iran memorandum of understanding, under which the US had agreed not to impose new sanctions, Reuters reported.
What to watch
- Whether European or Gulf authorities freeze specific properties linked to Smart Global.
- Further US designations of real estate firms tied to Iranian officials.
- Whether the dispute over the US–Iran memorandum affects talks between the two sides.
