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The Iranian regime, especially the Revolutionary Guard, constantly seeks to exploit every loophole in the global banking system to circumvent US sanctions.
A report by Iran International Channel, broadcasting from London in Farsi, revealed that the Iranian Revolutionary Guard is exploiting a loophole in the Iranian banking system to redirect funds to finance itself and support terrorist activities around the world, in a process called “electronic caves. “in Tehran.
The report, published by the Jerusalem Post, indicated that the Revolutionary Guard is manipulating the Central Bank of Iran, which uses a system that allows companies to buy foreign currency at low prices.
To do this, the Revolutionary Guard is posing as moneylenders to buy “tens of millions of dollars and euros” from exporting companies at the black market price, when through a process called blessing, a senior official of the banking system told the channel Iranian, who spoke on condition of anonymity.
The governor of the Central Bank of Iran, Abdel Nasser Hemmati, had announced that since March foreign currencies had been inflated to the value of 15,000 million dollars and sold through the system of “blessings”, according to the report.
The Central Bank of Iran appears to be aware of the IRGC’s operations, specifically that those funds are being transferred to the Quds Force of the Revolutionary Guard, which is under the supervision of Khamenei, Iran’s supreme leader.
Last May, Adel Azzam, head of Iran’s Court of Accounts, accused the Iranian government of corruption and mismanagement of state funds. In his annual budget report, titled “Summary of Budget Fraud in 1397 (2018),” he was unable to press charges against Khamenei or the IRGC. All he could do was press charges implicit in the investigation.
Iranians denounce spending this money on foreign groups accused of terrorism, at a time when citizens suffer the simplest necessities in life.
Iran is coming under tremendous economic pressure due to US sanctions, and that pressure increased after the US announced in 2018 its withdrawal from the nuclear deal signed by world powers with Iran.
