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According to a report, Iran relies on a complex network to acquire and redirect dollars despite U.S. sanctions. This network involves multiple sources such as oil, the yuan, digital currencies, and gold, as well as cross-border transfer and conversion operations through Iraq, Afghanistan, and the shadow banking system. Iranian oil is typically exported to China and settled in yuan, often with discounts and additional charges, with proceeds passing through intermediaries and currency exchanges. These funds are then converted into more liquid currencies for international trade or stored as gold or stablecoins. Iran also uses digital currencies and gold as alternatives to circumvent restrictions on the banking system, although these conversions come with high costs and risks. The U.S. dollar remains present indirectly, especially through unofficial channels, serving as a reference for barter and value preservation despite a decline in direct reliance.
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