Who made off with $12 billion from Iran's oil sales?

13 October, 2026, 04:55 pm

Last modified: 13 October, 2026, 04:58 pm

Unable to directly sell oil in the face of US and European embargoes and naval blockades, the alternative trading system that the Iranian government developed has now created a major financial crisis within the country. Tehran currently owes hundreds of billions of dollars to a secret intermediary network of 'trustees', or zimmadars, built outside official channels. According to Iran's Justice Department, the government owes these middlemen about $11-12 billion, which is roughly half of the total oil revenue estimated in the government's budget for the current fiscal year.