Arabic version: إيران توسع صفقاتها النفطية الغامضة تحت ضغط اقتصادي
Iranian authorities are increasingly relying on unofficial channels to sell oil and import essential goods as U.S. sanctions tighten. This strategy has raised concerns among judges and experts regarding potential corruption linked to the emerging network of state-linked ‘trustees’ managing these shadowy transactions. According to Al Jazeera, these trustees are allegedly involved in billions of dollars worth of deals, with significant amounts of money unaccounted for.
Judiciary chief Gholam-Hossein Mohseni-Ejei has expressed concern over the operations of these trustees, questioning how they gained access to critical oil resources. He has directed financial authorities to ensure the return of funds from these transactions. The ongoing economic crisis in Iran, characterized by rampant inflation and a depreciating currency, has exacerbated the challenges of returning foreign currency revenues from oil sales.
A former oil executive, Ali Akbar Pour Ebrahim, noted a significant shift in the management of oil funds, particularly after the U.S. withdrawal from the 2015 nuclear deal. He indicated that the Petroleum Ministry has been sidelined, with bank trustees taking over operations, which has led to allegations of misappropriation amounting to as much as $11 billion. He asserted that this system has allowed individuals to enrich themselves significantly, with reports of luxury purchases in the UAE.
In a recent announcement, Agriculture Minister Gholamreza Nouri Ghezeljeh revealed that importers of essential goods will now be allowed to barter oil for food, further expanding the role of these trustees. This move follows the elimination of a preferential currency exchange rate, which was seen as fostering corruption. The new scheme raises questions about accountability and transparency, as the same importers, previously affected by the currency changes, will now benefit from oil shipments.
The Iranian regime appears to be doubling down on this controversial trustee model, signaling a commitment to maintain and expand these operations despite the risks of corruption and economic instability. Experts warn that without stringent oversight, the mismanagement of oil revenues could further undermine the nation’s economy.
