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February 25, 2015 11:39 am

Sources: Iran Smuggled at Least $1 Billion in Cash to Avoid Sanctions

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Iran's President Hassan Rouhani. Sources said Iran smuggled in at least $1 billion to skirt Western sanctions. Photo: Screenshot.

Reuters – At least $1 billion in cash has been smuggled into Iran as it seeks to avoid Western sanctions, a bigger figure than previously reported, Iranian officials and Western intelligence and diplomatic sources say.

Sanctions imposed by the West over Iran’s nuclear program have shut Tehran out of the global banking system, making it hard to obtain the US dollars it needs for international transactions.

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