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Industry World Prediction on Currency Fluctuation Due to Government Manipulation

Apr 29, 2026 April 29, 2026 12 min read 📰 Radio Farda
📋 Key Takeaway

Babak Zanjani, a controversial oil billionaire, is on trial for serious charges including corruption and fraud after 21 months of detention. His trial, which is expected to expose connections to previous government officials, reflects ongoing issues of corruption and economic mismanagement in Iran. The outcome could have significant implications for the political landscape and public trust in the government.

🔍 Quick Context Guide
💡 Bottom Line: The trial of Babak Zanjani could reveal deeper issues within Iran's economic management.

👥 Key Players

Babak Zanjani (بابک زنجانی) ACCUSED
Oil billionaire
"'The first court session of Babak Zanjani... accused of corruption on earth.'"
Hassan Rouhani (حسن روحانی) QUOTED
President of Iran
"'We will not overlook the blood of our dear ones...'"
Hossein Dehdashti QUOTED
Member of parliamentary committee
"'Our demand is for all sessions to be public.'"
Mohammad Ali Jafari QUOTED
IRGC Commander
"'The IRGC is ready for orders of revenge.'"
Nasir Makarem Shirazi (ناصر مکارم شیرازی) QUOTED
Cleric
"'Doubt and hesitation in implementing the JCPOA harms the country.'"
Judge Abolqasem Salavati ACTOR
Judge of Revolutionary Court
"'presided over by Judge Abolqasem Salavati.'"

⚡ Actions

Iranian government INDICT Babak Zanjani
"'The first court session of Babak Zanjani... accused of corruption on earth and participating in disrupting the country's economic system.'"
Confidence: 90%
Etemad newspaper REPORT Babak Zanjani
"'The consequences of economic activities in a government that based its work with Babak Zanjani on circumventing sanctions...'"
Confidence: 80%
Hossein Dehdashti DEMAND Iranian parliament
"'Our demand is for all sessions to be public.'"
Confidence: 80%

📰 What Happened

Babak Zanjani's trial reveals corruption ties to Iran's economic managers and government manipulation.

  • Iranian government indict Babak Zanjani
  • Etemad newspaper report Babak Zanjani
  • Hossein Dehdashti demand Iranian parliament

💡 Why It Matters

🇮🇷 For Iran: Because it exposes corruption within the government and economic management.
🌍 Regional: Because it highlights Iran's internal struggles amid external pressures.
🌐 International: Because it may affect perceptions of Iran's economic stability and governance.

📚 Background

The trial of Babak Zanjani could reveal deeper issues within Iran's economic management.

📝 Key Evidence

"'The first court session of Babak Zanjani... accused of corruption on earth.'"
→ Indictment of Babak Zanjani.
"'The IRGC is ready for orders of revenge.'"
→ Indicates military readiness and potential escalation.
📡 Source: STATE MEDIA
📊 Confidence: 80%
The article reflects the government's perspective on the trial.

The Iran newspaper, close to the government, in the front page of its October 12 issue, published a report on the first session of Babak Zanjani's trial titled 'Unveiling the Indictment of the Oil Billionaire,' stating: 'The first court session of Babak Zanjani, the controversial oil billionaire, and his two accomplices accused of corruption on earth and participating in disrupting the country's economic system was held publicly on Saturday after 21 months in Branch 15 of the Revolutionary Court presided over by Judge Abolqasem Salavati.' The Etemad newspaper also reported under the headline 'Corruption on Earth: The Oil Billionaire's Charge,' referring to Babak Zanjani as a collaborator of Mahmoud Ahmadinejad's government in circumventing sanctions, stating: 'The consequences of economic activities in a government that based its work with Babak Zanjani on circumventing sanctions have turned him into a defendant who requires several sessions just for the reading of his indictment.' The Kayhan newspaper introduced Babak Zanjani as a 'product of the economic managers' in its front page, writing: 'According to Babak Zanjani, he started his work in the government of the economic managers by obtaining state currency and selling it in the free market. This newspaper, referring to the first session of Babak Zanjani's trial 'after 630 days of his detention,' promised to turn the Babak Zanjani trial into sessions for exposing 'the economic managers,' writing: 'Until all aspects of this financial-oil defendant's case, which was born and grew with the support of technocrats in Hashemi Rafsanjani's government, are clarified, one must wait and track numerous traces from the economic managers to the reformists throughout the court sessions.' Hossein Dehdashti, a member of the parliamentary committee following up on Babak Zanjani's case, who attended the first trial session, told the Arman newspaper: 'Our demand is for all sessions to be public.' Statements by Hassan Rouhani, the President, during the reception of the bodies of 104 Iranian pilgrims killed in the 'Mina' incident have been reflected in the front pages of most newspapers, with many of these newspapers, such as the Information newspaper, reporting him saying: 'We will not overlook the blood of our dear ones; if necessary, we will speak with the language of power.' The Javan newspaper, close to the Islamic Revolutionary Guard Corps, described Mohammad Ali Jafari's statements in its front page as the IRGC's readiness for 'revenge' against Saudi Arabia, noting that the IRGC is 'ready for orders of revenge' and that this newspaper wrote that in recent years, Saudi Arabia has benefited the most from 'delivering isolation to Iran,' but now the return of the Islamic Republic to 'global diplomacy' has changed the conditions. The Shahrevand newspaper quoted Nasir Makarem Shirazi, a cleric based in Qom, stating: 'Doubt and hesitation in implementing the JCPOA harms the country.' Makarem Shirazi, in his message, referring to 'many letters from the public reaching our office and many calls urging us to advise parliamentarians to not delay the JCPOA any longer, to finalize it,' addressed the representatives of the ninth parliament: 'Our country is a safe island located in the middle of a stormy sea, surrounded by storms of insecurity; let us not make this safe island unsafe with internal disputes; let us see what is happening in Syria, Iraq, Yemen, and even Afghanistan,' adding that 'we have numerous economic, political, and cultural problems, and if we do not address them and do not overcome these problems with more solidarity, the future is concerning.' This newspaper also published a report on the continuation of the forest fires in Golestan, reporting the ashes of 50 hectares of pasture and forest land in Golestan National Park. The Jahan Sanat newspaper reported a renewed increase in the dollar price in Tehran's currency market, stating: 'While the Central Bank Governor claims that currency fluctuations have decreased and reached 9 tomans in August, on the first day of this week, the dollar price rose by 100 tomans to 3470 tomans,' and now 'some experts believe that the dollar will rise to 3600 tomans this year.' The Shargh newspaper, in a note titled 'Goodbye to the Turkmen Lady Governor,' wrote: 'In the list of 464 Iranian casualties in the Mina incident published by the Hajj and Pilgrimage Organization, the name Marjan Nazgholichi, the governor of Turkmen County, is seen in row 431.' This newspaper also reported on 'widespread fire in the Ministry of Interior hall,' quoting the Deputy Operations of Tehran Fire Department stating: 'One of the halls on the ground floor caught fire. The intensity of the fire was such that the smoke was visible from a distance, and thick smoke filled the corridors and upper floors of the building.' Mehdi Davari reported on investigating the causes of this fire, simultaneously stating that during the fire at the Ministry of Interior hall, 'no citizens were harmed, but several firefighters suffered from smoke inhalation and superficial burns, which were treated on-site by emergency personnel present at the incident.' The Qanoon newspaper wrote on its front page: 'One day before the JCPOA report was read in Baharestan, the alarmed individuals went on strike.' This newspaper accused the strikers of 'rebelling against the leadership' and wrote: 'The illegal sit-in in front of the parliament ultimately ended with the opinion of the Supreme Leader, the issuance of a judicial order, and the presence of military forces. Although this sit-in was dismantled, it came at a high cost, with the rebellion of the strikers against the Supreme Leader's command being one of its main components.' Unveiling the indictment of the oil billionaire; the charge of 'corruption on earth' for the 'economic Basij.' The Iran newspaper, close to the government, in the front page of its October 12 issue, published a report on the first session of Babak Zanjani's trial titled 'Unveiling the Indictment of the Oil Billionaire,' stating: 'The first court session of Babak Zanjani, the controversial oil billionaire, and his two accomplices accused of corruption on earth and participating in disrupting the country's economic system was held publicly on Saturday after 21 months in Branch 15 of the Revolutionary Court presided over by Judge Abolqasem Salavati.' This newspaper noted that the first session of Babak Zanjani's trial began at 9 AM on Saturday, October 11, in Branch 15 of the Revolutionary Court in Tehran, presided over by Abolqasem Salavati, stating that at the beginning of the trial, Reza Najafi, the representative of the Tehran prosecutor, told the court president: 'The indictment of the defendants is prepared in 237 pages, and Branch 6 of the Government Employees Prosecutor's Office issued a temporary detention order for Babak Zanjani, 'H.F.' and 'M.S.' on January 27, 2014. However, this case was opened earlier in 2014 by the Supreme Anti-Money Laundering Council, which expedited the case due to a complaint from the Ministry of Oil.' According to the Iran newspaper, part of the indictment states that 'Babak Zanjani, born in 1973 in Tehran, is accused of: corruption on earth and disrupting the economic system of the country, large-scale fraud against the National Iranian Oil Company, fraud against the FIB Bank, forgery of bank transfers in the name of 'Y,' forgery of bank transfers from the Arab Turk Bank to the Kent Bank to the account of Mr. 'Y,' forgery of currency transfers from the FIB Bank to the Housing Bank, forgery of several currency transfers from the Kent Bank to the Development Financial Institute, forgery of interbank transfer orders from the FIB Bank to the Islamic Bank, forgery of transfers at the Central Bank, forgery of bank documents, and money laundering amounting to 1.967 billion euros and dissemination of false information.' The Iran newspaper also referred to the names of the two other defendants in this case, quoting the indictment read in court, stating: 'Mr. M.S., born in 1970, residing in England, is accused of corruption on earth and disrupting the economic system of the country, deliberate and conscious participation in forgery, fraud, and money laundering, participation in fraud against the National Iranian Oil Company amounting to 1.2 million euros, participation in money laundering amounting to 1.2 million euros, and participation in fraud against a company amounting to 7 million euros,' while Mr. H.F., residing in Tehran, is also accused of corruption on earth and participation in disrupting the economic system of the country and harming the economic system, forgery, fraud, and money laundering, participation in fraud against the HK company amounting to 1.2 million euros and participation in fraud against the Social Security Organization amounting to 444 billion Japanese yen.' The Iran newspaper also reported the satisfaction of Babak Zanjani's lawyer regarding the public nature of the first court session, quoting Rasoul Kouhpayehzadeh as saying: 'The first session addressing my client's charges proceeded according to laws and expectations. Just as the indictment is read publicly, I hope that my client's and the defense lawyer's arguments will also be held publicly.' Babak Zanjani's lawyer also stated: 'An official has claimed that my client has six lawyers, while this is not true; I am the only lawyer for Babak Zanjani.' According to the Iran newspaper, the lawyer for the Ministry of Oil, however, evaluated the public nature of the oil billionaire's trial as both good and bad, stating: 'The court session addressing the charges of the oil billionaire and the other two defendants was held publicly, which can be both good and bad. It is good in that the court is publicly informing, and it is bad in that the defendant may continue with the lies he tells, which may lead to deceiving public opinion. If the defendant has repented and stopped lying, it is good; however, when he lies and insists on this lie, one cannot evaluate the session positively.' The Etemad newspaper also reported under the headline 'Corruption on Earth: The Oil Billionaire's Charge' referring to Babak Zanjani as a collaborator of Mahmoud Ahmadinejad's government in circumventing sanctions, stating: 'The consequences of economic activities in a government that based its work with Babak Zanjani on circumventing sanctions have turned him into a defendant who requires several sessions just for the reading of his indictment.' This newspaper noted that on Saturday 'there was no longer any news of the 100 million tomans on Babak Zanjani's wrists,' stating: 'He, who once called himself an economic hero, was escorted under the protection of special forces on Saturday' and 'like the past two years, was directed to the parking lot of the Revolutionary Court without facing the media so that 'his lawyer would be the only one responding to journalists' questions,' and of course, Rasoul Kouhpayehzadeh 'again refrained from announcing details of his 42,000-page case and postponed everything until after the court sessions.' The Etemad newspaper, referring to doubts about the possibility of holding a public trial for Babak Zanjani after the indictment reading sessions, wrote that his defense, which 'many have already questioned whether it will be public or non-public, could unlock many issues that have been raised by the pursuers of Zanjani's case,' as 'many believe that Babak Zanjani's defense will add the names of other individuals, some of whom are former government officials, to the list of main defendants.' The promises of conservative newspapers for exposing the oil billionaire; 'Babak' is the child of 'the economic managers.' The Kayhan newspaper introduced Babak Zanjani in its front page as a 'product of the economic managers,' writing: 'According to Babak Zanjani, he started his work in the government of the economic managers by obtaining state currency and selling it in the free market, which earned him a profit of 17 million tomans daily at that time.' This newspaper, which is published under the supervision of the representative of the Supreme Leader of the Islamic Republic, referring to the first session of Babak Zanjani's trial 'after 630 days of his detention,' quoted Babak Zanjani as saying: 'I have previously gone to receive awards in front of Mr. Hashemi, the President of the Reformist Government, and Mr. Rouhani.' However, Kayhan wrote about Babak Zanjani's accusations: 'The two billion euro debt of the accused to the Ministry of Oil, the use of three different identities by the accused, the mentioned sections regarding this large case are significant.' This newspaper has already promised to turn Babak Zanjani's trial into sessions for exposing the traces of the economic managers, writing: 'It is evident that until all aspects of this financial-oil defendant's case, which was born and grew with the support of technocrats in Hashemi Rafsanjani's government, are clarified, one must wait and track numerous traces from the economic managers to the reformists throughout the court sessions.' The Javan newspaper, close to the Islamic Revolutionary Guard Corps, reported under the headline 'Corruption on Earth for Babak,' stating: 'In the first session of Babak Zanjani's trial, which was held publicly, the prosecutor's representative read the 237-page indictment of the oil billionaire and the other two defendants in this case,' an indictment that 'is prepared for three individuals and consists of 237 pages, and according to this indictment, Babak Zanjani's charges include corruption on earth, fraud against the National Oil Company, forgery of 24 bank documents, money laundering, and dissemination of false information.' This newspaper did not mention the details of the complaint or accusations mentioned in the indictment regarding the disappearance of 2 million 700 thousand dollars from the sale of Iranian oil but wrote: 'The representative of the Tehran prosecutor, during the reading of the indictment, rejected Babak Zanjani's statements about having money resources in foreign banks and accused him of false statements and 'forgery from within the prison' as well, stating: 'The accused has communicated with the outside world through the employees of Evin Prison and has contacted a person through his sister, and during the investigations, he has not stopped forging. The accused has been in contact with the outside world through his sister, Bahareh Zanjani, and regarding the mentioned company, the accused requests his sister to tell the employees of the company to make changes in the company's prints and then send them to the investigators.'

🌐

Translated from the original and edited for English readers. View original source →

Translation confidence: 85%

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