Bijan Zanganeh Confirms $5.3 Billion in Oil Claims for Iran

Iran's Minister of Oil Bijan Zanganeh denied the existence of a 'second Babak Zanjani' in Iran's oil sales but confirmed reports of $5.3 billion in oil claims. On May 20, 2023, the Mehr News Agency reported that the National Iranian Oil Company had signed a contract with an oil intermediary for the sale of gas condensates to an Emirati refinery, noting that the intermediary reportedly has not settled its debt of over $5 billion. This amount is nearly double that involved in the Babak Zanjani case. On July 30, 2023, Zanganeh stated in a meeting of the Economic Corruption Combat Coordination Headquarters that this money is safely stored and will return to the country after sanctions are lifted. Iranian Vice President Eshaq Jahangiri also mentioned that some individuals are trying to downplay Zanjani's offenses by exaggerating and creating distractions regarding the alleged existence of a second Zanjani. He emphasized that Zanjani's case was unique, resulting from past mismanagement, and expressed confidence that such violations would not recur in the oil sector. Another topic discussed was the disappearance of an $87 million drilling rig, with reports indicating that it has been missing since last September. Zanganeh also presented reports on other oil-related violations, urging the judiciary to address these issues seriously. Judge Seraaj, head of the National Inspection Organization, confirmed the validity of the missing rig's case, stating that those who spent the money have not provided proof that it was delivered to the seller. The National Inspection Organization has prepared eight detailed reports on this matter, with the latest submitted to judicial authorities.