[ April 25, 2024 ]
Any wonder Iran can fund both its nuclear weapons program and its terror proxies?
Scroll the link below for full report.
TRANSLATING BIDEN’S NO ENFORCEMENT OF IRAN-SANCTIONS INTO $$$ FOR IRAN: FROM $4 BIL TO $31 BIL IN ONE YEAR (thanks to Shirley)
Story continues below advertisementThe Biden administration’s failure to enforce key sanctions against Iran, particularly against the energy sector, facilitated this clandestine sanctions-busting scheme. In 2021, Iran exported an estimated 418 million barrels of oil, 123 million more than the previous year. China imported three quarters of this oil. Thanks to these sales, Iran’s fully accessible foreign currency reserves went from only $4 billion in 2020 to $31 billion in 2021. As Gabriel Noronha notes, the IMF projects that these reserves may reach $42.9 billion by the end of 2022. Tehran also obtained a $5 billion foreign currency boost from the IMF. Iran’s economy grew by an estimated 3.4 percent to 6.2 percent over the past 12 months, a sharp reversal from its 6.8 percent contraction in 2019.
Read the report here.
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