Iran has established a secret scheme to smuggle its fuel oil through Iraq worth billions of dollars.
Iran smuggles fuel oil through Iraq
Iran has created a scheme to smuggle its fuel oil through neighboring Iraq to evade U.S. sanctions and sell it for billions of dollars.
According to Reuters, Iran is utilizing the policy of the Iraqi government, which provides fuel oil to asphalt plants at subsidized prices. This scheme has involved companies and individuals from Iraq, Iran, and Gulf countries, who collectively redirect a large quantity of fuel oil to Asia.
Iran gains significant military, political, and economic leverage in Iraq through its allies from political parties and militias. These schemes help Iran acquire hard currency and evade American sanctions via the local banking system, according to officials.
Iran employs two main schemes: mixing its fuel oil with Iraqi products and using forged documentation. This allows Iran to evade sanctions and increase the price of its product. From these schemes, Iran generates revenues ranging from $1 billion to over $3 billion per year.
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