Iran's shadow oil billions vanish as trusties flee, Interpol red notices issued
Iran's state-run oil revenue network is facing a major scandal after intermediaries tasked with bypassing international sanctions misappropriated billions of dollars. Authorities have issued Interpol Red Notices for 15 individuals as the government struggles to explain the lack of oversight in its shadow financial system.
Why it matters
The collapse of this shadow network exposes the risks and corruption inherent in state-sanctioned financial workarounds used to evade international economic pressure.
Iran's shadowy oil revenue network has come under the radar after officials revealed that intermediaries handling state funds had misappropriated billions, with some fleeing the country, Iran International reported.The controversy has brought renewed attention to the system of "trusties" — private companies and middlemen tasked with moving oil revenues outside the formal banking system to bypass international sanctions.Zabihollah Khodaeian, head of Iran's State Inspection Organization, said on state television that one intermediary alone had failed to return $200 million before absconding.
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