Iranian Elite Move “Tens of Millions” Abroad as New US Sanctions Hit

Members of Iran’s ruling elite have reportedly transferred “tens of millions of dollars” out of the country following the U.S. Treasury Department’s imposition of fresh sanctions targeting the regime’s financial networks, according to multiple sources.

The Treasury Department’s Office of Foreign Assets Control announced on January 15 that it was taking action against “shadow banking networks that allow Iran’s elite to steal and launder revenue generated by the country’s natural resources.” The move represents an escalation in the economic pressure campaign against Tehran amid ongoing concerns about human rights abuses.

“We are now seeing the rats fleeing the ship, because we can see millions, tens of millions of dollars being wired out of the country, snuck out of the country by the Iranian leadership,” Treasury Secretary Scott Bessent revealed in a recent interview. “They are abandoning ship, and we are seeing it come into banks and financial institutions all over the world.”

Among those allegedly moving assets abroad is Mojtaba Khamenei, son of Supreme Leader Ayatollah Ali Khamenei, who reportedly transferred approximately $328 million overseas as part of an estimated $1.5 billion shift in recent days, according to Israeli media outlet Channel 14.

Behnam Ben Taleblu, a senior fellow at the Foundation for Defense of Democracies, told Fox News Digital that while some reports of capital flight remain unconfirmed, they underscore the need for U.S. authorities to intensify tracking efforts.

“If capital flight has taken place, then these are accounts that the U.S. government should be looking to monitor, block, freeze and seize,” he said. “There were also some reports on social media about large volumes of Bitcoin being transferred, or other kinds of financial assets. I haven’t been able to independently confirm that, but it is something that’s being discussed.”

The Treasury Department’s focus on Iran’s shadow banking network comes after years of the regime successfully integrating its financial operations into the global system. According to Taleblu, the Iranian regime has routed billions through jurisdictions including the United Arab Emirates, Hong Kong, and Singapore.

“The fact that the Treasury Department is looking at this tells you quite seriously that Washington is also trying to link its foreign economic policy with its national security policy,” Taleblu explained.

The scale of Iran’s shadow financial activities became clear when the Treasury Department recently identified almost $9 billion of Iranian shadow banking activity that touched U.S. correspondent accounts throughout 2024. This extensive financial network has helped the regime circumvent previous sanctions and maintain access to international markets despite growing isolation.

The new sanctions specifically target institutions and individuals involved in the regime’s crackdown on protests. Secretary Bessent stated, “At the direction of President Trump, the Treasury Department is sanctioning key Iranian leaders involved in the brutal crackdown against the Iranian people. Treasury will use every tool to target those behind the regime’s tyrannical oppression of human rights.”

The timing of these sanctions and the apparent capital flight have raised questions about the Trump administration’s broader strategy toward Iran. Following the recent emergency UN meeting where the U.S. ambassador warned Iran that “all options are on the table,” observers are closely monitoring whether economic pressure might be followed by more direct action.

“All eyes right now are on President Trump to see if he takes a page from the Reagan playbook, the Obama playbook, or something else entirely,” Taleblu noted. “The million-dollar question is whether there will be something kinetic, especially after the most violent crackdown against protesters in the Islamic Republic’s history.”

While acknowledging the importance of economic sanctions, Taleblu cautioned that they might not be sufficient on their own. “Economic sanctions are helpful and necessary, but they are nowhere near sufficient to level the playing field between the street and the state,” he concluded.