The underground financial system keeping Iran afloat amid war, sanctions

The underground financial system keeping Iran afloat amid war, sanctions

As Washington ratchets up the economic phase of its war with Iran, these informal channels are the regime’s financial lifeline.

How the US ends up funding the Iranian Regime

We are at war with Iran. Meanwhile, we are supplying Iran with hard cash to keep it afloat. This is how it works. Ever since 2003, the U.S. Federal Reserve has been shipping pallets of cash to Iraq. Iraqi oil revenues are typically deposited into the Federal Reserve Bank of New York, and in exchange, because Iraq’s economy is heavily cash-based, we send physical U.S. currency to the Central Bank of Iraq. We send a lot of cash, sometimes as much …