• العربية
  • فارسی
Brand
  • Iran Insight
  • Politics
  • Economy
  • Analysis
  • Special Report
  • Opinion
  • Podcast
  • Iran Insight
  • Politics
  • Economy
  • Analysis
  • Special Report
  • Opinion
  • Podcast
  • Theme
  • Language
    • العربية
    • فارسی
  • Iran Insight
  • Politics
  • Economy
  • Analysis
  • Special Report
  • Opinion
  • Podcast
All rights reserved for Volant Media UK Limited
volant media logo

Who is the oil tycoon Khamenei saved from gallows?

Niloufar Goudarzi
Niloufar Goudarzi

Iran International

Apr 30, 2024, 20:35 GMT+1Updated: 17:02 GMT+0
Iranian Oil Tycoon Babak Zanjani during a court session
Iranian Oil Tycoon Babak Zanjani during a court session

A regime insider once hailed as Iran's richest man, Babak Zanjani, who was previously sentenced to death for corruption, is getting ready to walk free.

But, who is Babak Zanjani?

As the founder of the largest enterprise in Iran's contemporary history, Zanjani was involved in many business ventures. From transport services to construction, from owning football clubs to selling oil, he has become a tycoon both within Iran and abroad.

Babak Zanjani (undated)
100%
Babak Zanjani

During ultra-hardliner populist Mahmoud Ahmadinejad's presidency in the early 2010s, he was tasked with exporting oil to evade international sanctions.

Once hailed as Iran's richest man, he called himself the soldier of the Islamic revolution working on the economic front to facilitate the country's escape from crippling sanctions.

What was the source of his wealth?

Zanjani was a middleman who sold Iranian oil through companies mainly affiliated with the Islamic Revolution Guards Corps (IRGC), helping it boost its influence in Iran’s politics far beyond its military remit.

Amid international sanctions, the ultraconservative President Mahmoud Ahmadinejad allowed the private sector to sell oil internationally; to that end, Zanjani and other individuals set up elaborate networks and laundered money around the globe, including in Turkey, the United Arab Emirates, Indonesia, and Central Asia, aided by a mystery team.

The former tycoon once valued himself at approximately $13.5 billion, a staggering amount in a country where the majority of the economy is owned by the state. Today, one third of Iran’s population is living below the poverty line.

How did he get into trouble?

By evading the sanctions, Zanjani was subject to international penalties, including those from the European Union in December 2012 and the United States in April 2013.

However, the punishments were not only international but also domestic.

When Hassan Rouhani was elected president after Ahmadinejad’s second term (2009-2013), Zanjani was arrested and convicted. According to the new government's Ministry of Oil, Zanjani owed them $1.9 billion in oil revenues.

Former Iranian Presidents Mahmoud Ahmadinejad (L) & Hassan Rouhani (R) (undated)
100%
Former Iranian Presidents Mahmoud Ahmadinejad (L) & Hassan Rouhani (R)

The shifting political environment in Iran transformed Zanjani into a figure facing legal scrutiny and international sanctions, forcing him into a highly publicized legal battle.

He was subsequently sentenced to death in 2016, but following an appeal for clemency, the penalty was reduced instead to 20 years behind bars on Tuesday.

Could he now walk free?

He has always denied all the allegations of corruption and has pledged to repay all the money he owes if he is released from prison and allowed access to his business network.

The judiciary on Tuesday said the reason behind his reduced sentence was that he “cooperated” and that “his properties abroad were identified and confirmed by experts."

According to Rasul Kohpayehzadeh, Babak Zanjani's attorney, given that more than 10 years have passed since his prison term, his client may be eligible for parole, and “his prison term could be over.”

Most Viewed

Iran negotiators ordered to return after internal rift over Islamabad talks
1
EXCLUSIVE

Iran negotiators ordered to return after internal rift over Islamabad talks

2
ANALYSIS

US blockade enters murky phase as tankers spoof signals and buyers hesitate

3
ANALYSIS

Why the $100 billion Hormuz toll revenue is a myth

4

US tightens financial squeeze on Iran, warns banks over oil money flows

5
ANALYSIS

US blockade targets Iran oil boom amid regional disruption

Banner
Banner

Spotlight

  • Hardliners push Hormuz ‘red line’ as US blockade tests Iran’s leverage
    INSIGHT

    Hardliners push Hormuz ‘red line’ as US blockade tests Iran’s leverage

  • Ideology may be fading in Iran, but not in Kashmir's ‘Mini Iran'
    INSIGHT

    Ideology may be fading in Iran, but not in Kashmir's ‘Mini Iran'

  • War damage amounts to $3,000 per Iranian, with blockade set to add to losses
    INSIGHT

    War damage amounts to $3,000 per Iranian, with blockade set to add to losses

  • Why the $100 billion Hormuz toll revenue is a myth
    ANALYSIS

    Why the $100 billion Hormuz toll revenue is a myth

  • US blockade targets Iran oil boom amid regional disruption
    ANALYSIS

    US blockade targets Iran oil boom amid regional disruption

  • Iran's digital economy battered by prolonged blackout
    INSIGHT

    Iran's digital economy battered by prolonged blackout

•
•
•

More Stories

UN Nuclear Watchdog Chief To Visit Iran

Apr 30, 2024, 20:22 GMT+1

The International Atomic Energy Agency (IAEA) has confirmed that its Director-General, Rafael Grossi, will travel to Iran on May 6 to engage with high-ranking officials.

He will attend the International Conference on Nuclear Science and Technology during the visit, taking place in Isfahan, just months after officials in Iran claimed to be within reach of nuclear weapons. Grossi just days ago also claimed Iran was “weeks not months” from a nuclear weapon.

Im February Grossi admitted a "drifting apart" in relations between the agency and an increasingly defiant Iran.

Grossi noted in the same month that although the rate of uranium enrichment in Iran had decreased slightly since the previous year's end, Iran continued to enrich uranium at a significant rate of approximately 7 kg per month to 60 percent purity, near weapons grade.

Under the terms of a 2015 agreement with world powers, Iran was only permitted to enrich uranium up to 3.67 percent.

However, after former President Donald Trump withdrew the United States from the agreement in 2018 and reinstated sanctions, Iran exceeded the limits. As a result, the IAEA has stated that the 2015 nuclear deal has "all but disintegrated".


Iranian Doctor Commits Suicide Amid Wave Of Medical Staff Deaths

Apr 30, 2024, 16:51 GMT+1

The medical community in Iran has been shaken by another suicide as physician Zahra Maleki Ghorbani reportedly took her own life amid a growing trend.

Social media posts prior to her death showcased her objections to the dire working conditions at her hospital, hers the latest case among many amid Iran’s medical crisis.

The event adds to a rising trend among medical professionals in the country committing suicide, or being found dead under suspicious circumstances.

Just days ago, Samira Al-e-Saeedi, a rheumatology specialist and professor at the University of Tehran, took her own life.

Colleague Mehdi Abdous shared on social platform X that Al-e-Saeedi had discussed her plans for suicide with peers the day before she acted on them. Abdous noted the exceptionally high levels of stress and tension doctors face compared to other professions.

The suicide of Parastoo Bakhshi, a 34-year-old cardiovascular specialist, at Noorabad Delfan Hospital in Lorestan Province, also underlined the ongoing issue.

Found by hospital staff in the dormitory, her death has been linked to "excessive workplace pressure," according to the Medical Council of Iran.

Reports reveal a 200% increase in doctors applying for immigration compared to five years ago as professionals flee to better working and living conditions amid Iran’s economic and social crisis.

The Iranian Psychiatric Scientific Association has highlighted an increase in suicides among medical professionals, noting that 16 medical residents took their own lives last year alone.


US Voters Reject Iran Nuclear Talks, Blame Tehran For Oct. 7 - Poll

Apr 30, 2024, 16:43 GMT+1
•
Iran International Newsroom

A large majority of US voters say Iran is responsible for the attack on Israel, including Hamas’ attack on October 7, 2023, according to the latest Harvard CAPS-Harris poll.

This month's poll, conducted by The Harris Poll & HarrisX, highlighted several issues regarding Iran, with the results reflecting a nationally representative sample.

Answers from over 2,000 registered American voters show that the majority see US negotiations with Iran to curb Tehran’s nuclear ambitions as futile.

While a strong majority agreed that Iran is a danger globally and should be stopped from having nuclear weapons, about 67% (2 in 3 voters) said that negotiating with Iran would not work, as Tehran will violate any deal.

Notably, skepticism over a deal with Iran over its nuclear program increased with age, with 83% of those above the age of 65 saying that Tehran would violate any deal.

Almost 70% of voters believe that sanctions and isolation are the best way to prevent Tehran from obtaining nuclear weapons.

When questioned about whether the US should impose sanctions on Iran's oil to prevent it from entering the market or allow Iran to continue selling its oil, a significant majority of voters, comprising 71%, said the US should sanction Iran's oil and restrict its access to the market.

While 80% said that Iran should not be allowed to have nuclear weapons – there was a noticeable division in the 18-24 age bracket.

They are the most supportive age group for Iran being allowed to have nuclear weapons (57%), but still, a sizable minority (43%) believes Iran should be stopped from obtaining them.

Conversely, the age cohort of 65+ is the most unified in their opinion, with an overwhelming majority (96%) believing Iran should be prevented from obtaining nuclear weapons.

US Voters Blame Iran for Hamas’ October 7 Attack on Israel

The poll also delved into American voters’ sentiments on Hamas’ attack on Israel on October 7, 2023 – when around 1,200 Israelis and foreigners were killed by thousands of gunmen. It was the worst loss of life in a single day since Israel's founding in 1948. More than 240 people were taken hostage.

Across all age groups, a large majority of almost 75% believes that Iran is responsible for the attacks on Israel by Hamas and Hezbollah – including the October 7 attack.

The poll shows that the belief in Iran's responsibility for these attacks increases with age, with the highest percentages among the 55-64 and 65+ age groups.

In response to Hamas’ attack, Israel's cabinet declared war on the terrorist group and began its aerial bombardment campaign on the Gaza Strip. Tensions in the region entered new heights, when Iran and Israel entered into a period of direct conflict this month.

When voters were asked who is to blame for the escalating conflict in the Middle East, across all age groups, there was a split opinion with a significant portion blaming Iran and another significant portion blaming Israel.

Interestingly, among the 18-24 age group, there is a slight majority blaming Israel, while in the 25-34 age group, there is a slight majority blaming Iran.

Bipartisan Voters Support NATO Backing for Israel Against Iran

Other questions, related to Iran, included NATO – where voters were asked whether members of the defense alliance have a responsibility to support Israel against Iranian aggression or not.

Both Democrats and Republicans share a majority belief that NATO countries have a responsibility to support Israel against Iranian aggression. Specifically, 71% of Democrats and 68% of Republicans hold this view.

Though Israel has not sought formal membership in NATO, voters were asked whether inviting Israel into the defense alliance would deter further attacks by Iran.

Republicans and Democrats were seemingly on the same page again here – with about 62% of Republicans and 63% of Democrats agreeing that NATO should consider bringing Israel into the alliance to prevent more attacks from Iran.


Iran Uses US Pro-Palestine Protests To Offset Domestic Discontent

Apr 30, 2024, 15:59 GMT+1

The Iranian government continues to spotlight pro-Palestinian student protests in the US and Europe aiming to bolster its international image amidst waning domestic support.

On Tuesday, members of Iran’s parliament expressed their support for the pro-Palestine student movement and condemned the police actions against academics, 150 Iranian representatives voicing their solidarity with students and professors of American universities.

The surge of student-led pro-Palestinian rallies and sit-ins across the US has been fueled by the recent Israeli military actions in Gaza in retaliation for the Iran-backed Hamas invasion of October 7. Over 1,200 mostly civilians were killed and 250 more taken hostage. Israel has since waged a relentless retaliation which Hamas claims has killed over 33,000 people in the strip.

Students in the US are pressing their institutions to reveal and withdraw investments in funds and corporations linked with Israel, giving glee to the Iranian government which longs for ties between Israel and its biggest ally, the US, to sever.

However, the support by the Iranian regime has been met with criticism from within Iran, where many view it as hypocritical given the regime's harsh treatment of its own students who dissent. Hundreds have been arrested and banned from universities amid the Women, Life, Freedom uprising which began in 2022 after the death in morality police custody of Mahsa Amini. She was arrested for the incorrect wearing of her hijab, sparking a nationwide uprising against the regime which continues until today. 

In a bizarre statement, Nasir Hosseini, Khamenei's representative in Kohgiluyeh and Boyer-Ahmad province claimed that "the voice of the Islamic Revolution is heard all around the world," and noted that American university students are echoing themes similar to those promoted by Supreme Leader Ali Khamenei and the Islamic ideology.

Mohammad Moazeni, president of Shiraz University, offered a place for students and faculty from the US and European universities who have been expelled or threatened with expulsion during anti-Israel protests to continue their education at Shiraz University, in spite of the fact that travel to Iran is all but prohibited by most countries amid Iran's hostage diplomacy policy.

The Iranian regime has long positioned itself as a defender of the Palestinian cause, supporting multiple terror groups such as Palestinian Islamic Jihad and Lions Den, in a bid to destroy its archenemy, Israel. 

UK PM Honors Two Iranians Ahead Of World Press Freedom Day

Apr 30, 2024, 15:49 GMT+1

UK Prime Minister Rishi Sunak paid homage to jailed Iranian Nobel Peace Prize laureate Narges Mohammadi and Iran International’s host Pouria Zeraati ahead of world press freedom day.

“I’d like to take this chance to pay tribute to all those suffering behind bars in the name of freedom and democracy,” Sunak said at the Society of Editors 25th Anniversary Conference in London on Tuesday.

He expressed solidarity with Mohammadi, who is serving a 12-year prison sentence in Iran, along with facing 154 lashes, two years of exile, and various other social and political restrictions. Despite her imprisonment, Mohammadi has been vocal against the regime's human rights abuses and the mandatory hijab law.

The prime minister also addressed the recent attack on Pouria Zeraati, who was stabbed outside his London home last month. Zeraati, a prominent journalist at Iran International, suffered leg injuries. This came following multiple threats from Iranian intelligence aimed at journalists of Iran International.

Sunak's comments came as part of a broader discussion at the conference, which drew editors, academics, lawyers, and journalists together to debate the pressing issues facing the journalism industry today. He underscored the essential role of the media in strengthening democracy by holding governments accountable, exposing corruption, and elevating new voices.

Iran has one of the world’s worst records for press freedom according to Freedom House, with over 70 journalists arrested since the 2022 uprising alone. Among those were the two women to first report the arrest and subsequent death of Mahsa Amini whose death in morality police custody triggered the worst uprising in Iran since the foundation of the Islamic Republic.