Why do Iran’s oil ‘intermediaries’ owe the government billions?

What the report says

Al Jazeera reports that Iran says a network of oil intermediaries, often described in the country as “trustees,” owes the government billions of dollars from past crude sales. A judiciary spokesperson said in September that the unpaid amount was between 10 billion and 11 billion euros, a sum the outlet notes is roughly half of the oil revenue projected in Iran’s current fiscal-year budget. The article links the dispute to ongoing US sanctions pressure and restrictions on Iran’s oil exports.

According to the report, the system developed in 2012 after sanctions made it difficult for Tehran to sell oil and receive payments through normal state channels. Iran then began using institutions, companies and individuals to sell oil or handle payment collection on its behalf, with the expectation that proceeds would be returned to the treasury. Some of those intermediaries were later unable or unwilling to transfer the funds, while others reportedly faced account freezes and asset blocking after being sanctioned themselves.

Al Jazeera says the problem was partly reduced after the 2015 nuclear deal lifted oil sanctions and Iran regained greater control over sales. But after the United States withdrew from the agreement in 2018, Tehran again relied on private traders and offshore workarounds, reviving delays, accounting gaps and seizures of shipments at sea. The article says Iranian officials now accuse some trustees of profiting from the arrangement, and the judiciary chief has warned of legal action. The issue matters because it highlights how sanctions, limited access to international banking and reliance on intermediaries continue to strain Iran’s public finances.