5 Hrs
Source:
عربي21
Iran's Path to the Dollar
The article discusses how Iran has managed to access US dollars despite the American sanctions imposed for over four decades. Iran continues to rely on a complex network to fund its trade and maintain economic stability. Tehran employs unconventional methods, such as exchanges through banks and intermediary companies in Hong Kong, and utilizing cryptocurrencies, which have reached a value of approximately $8 billion, to transfer its revenues. Although the sanctions have not entirely stopped oil trade, they have increased its costs, with Iranian oil discounts to China rising to about $17 per barrel compared to $8 in 2023, making operations more expensive. Iran also depends on neighboring countries and cross-border trade channels, while enhancing its capabilities through the use of cryptocurrencies, which diminishes the effectiveness of sanctions and raises the cost of acquiring dollars. This creates a prolonged struggle characterized by adaptability and resilience, rather than a complete economic strangulation of Iran.
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