Economic

Iran smuggles in $1 billion of bank notes to skirt sanctions

“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 U.S. dollars it needs for international transactions.”

Source: Exclusive: Iran smuggles in $1 billion of bank notes to skirt sanctions – sources | Reuters

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