Iran Raked In $16 Billion From Illicit Oil Sales in Just 4 Months, Highlighting Biden-Harris Admin’s Lax Sanctions Enforcement
30th July 2024
Iran reported raking in nearly $16 billion in profits from its illicit oil trade over the past several months, highlighting the Biden-Harris administration’s perennially lax enforcement of sanctions meant to stymie Tehran’s cash flow.
Tehran exported a total of “$15.7 billion worth of oil in the first four months in the Iranian calendar” year, which lasted from March 21 to July 22, Mohammad Rezvanifar, the head of Iran’s Customs Administration, said on Monday. Most of this crude oil was offloaded in China, Turkey, the United Arab Emirates, Germany, and India, according to the country’s state-controlled press.
Iran’s illicit oil trade, which is heavily sanctioned by the United States and other Western nations, has hit a boom period under the Biden-Harris administration, topping around $90 billion as of March. This cash has helped to keep the hardline regime afloat amid economic uncertainty and helps Tehran fund its network of terror proxies, including Hamas and Hezbollah.