Why do Iran’s oil ‘intermediaries’ owe the government billions?
Summary
Iran says a group of oil intermediaries, called “trustees,” owe the government about 11 to 12 billion dollars from previous oil sales. This large debt partly results from a system Iran used to sell oil through various institutions to bypass U.S. and European sanctions on its oil exports since 2012.Key Facts
- The U.S. has blocked Iranian ports and added sanctions to limit Iran’s oil exports.
- Iran’s judiciary says oil intermediaries owe the government around 10–11 billion euros ($11–12 billion).
- This debt equals about half of Iran’s oil revenue planned in the current government budget.
- From 2012, Iran sold oil via a network of domestic institutions and companies, not official channels, to avoid sanctions.
- These institutions included pension funds, construction groups, and even the police.
- The oil sellers were supposed to send sales money to the government but often failed to do so, causing large financial gaps.
- The nuclear deal in 2016 temporarily lifted sanctions, allowing Iran better control over oil sales again.
- U.S. officials say pressure on Iran’s oil system shows the sanctions campaign has affected Iran’s economy.
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