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Iran banks big on murky oil ‘trustees’ as war with US on the horizon

Iran banks big on murky oil ‘trustees’ as war with US on the horizon

Summary

Iranian officials are using unofficial networks to sell oil and bring in goods to counter U.S. sanctions and potential conflict. Authorities are concerned these secret deals have led to corruption and missing funds. Billions of dollars from oil sales have not returned to Iran's economy, raising transparency and accountability issues.

Key Facts

  • Iran is using unofficial channels to sell oil due to U.S. sanctions.
  • These deals are managed by “trustees,” who are individuals linked to the government.
  • Billions of dollars made from oil sales have not been returned to Iran.
  • Concerns about corruption have arisen due to these shadowy dealings.
  • Iran's judiciary is pursuing the trustees to recover the funds.
  • The Iranian economy is suffering from inflation and a weak currency.
  • The Iranian Petroleum Ministry has lost its control over oil money management.
  • Trustees have reportedly used neighboring countries to handle these funds.

Source Information