The U.S. Treasury Department blacklisted Iranian businessman Babak Zanjani, Malaysia's First Islamic Bank, and a network of companies for money laundering and attempting to evade international sanctions on Iran's oil industry. Zanjani is based in the United Arab Emirates and is chairman of the Sorinet Group. The Treasury Department said Zanjani, his companies, and First Islamic Bank moved billions of dollars on behalf of the Iranian government, including the National Iranian Oil Company and an engineering unit of the Revolutionary Guards. Also blacklisted was Swiss-based Nafitran Intertrade Company, which the Treasury Department said was owned or controlled by the National Iranian Oil Company.