Secret transactions for tens of billions. WSJ: An Iranian financial regime to circumvent sanctions

The Wall Street Journal wrote that the Iranian regime created a secret banking and financial system to manage tens of billions of dollars. in annual exchanges subject to US sanctions.

According to the newspaper, the system includes accounts in foreign banks and law firms abroad and an exchange room for exchanges in Iran.

According to Western diplomats, intelligence officials and documents obtained by the newspaper, Iran “has set up a secret banking and financial system to manage tens of billions of dollars. in annual exchanges banned by US-led sanctions. “

The daily noted that the secret financial system “has allowed Tehran to resist economic sanctions and has leveraged it in multilateral nuclear talks”.

He pointed out that he had witnessed the financial transactions of dozens of Iranian companies acting as proxies in 61 accounts in 28 foreign banks.

He claimed that the system, consisting of accounts in foreign commercial banks, proxy companies registered outside the country and companies that coordinate illicit trade, helped Tehran resist the Biden administration and buy time to carry out its nuclear program even during negotiations in course.

According to the report, sanctioned Iranian companies have set up overseas companies with different addresses, which sell oil and other assets and transfer funds to accounts abroad.

The report indicates that some of this money is being smuggled in cash in Iran and some remain in foreign bank accounts.

The newspaper pointed to the Iranian Central Bank’s hard currency trading system between importers and exporters as a way to get this money in. in Iran.

“Iranian officials are planning to make this secret financial system a permanent part of the country’s economy due to its success,” the newspaper said, citing Western officials.

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