Iran's Oil Minister: Zanjani Never Intended to Repay Oil Debt

Bijan Zangeneh, on Tuesday, April 25, regarding the debts of Babak Zanjani, the imprisoned businessman, stated that Mr. Zanjani never intended to repay his $2.7 billion debt to the Ministry of Oil. According to the Iranian Students' News Agency (ISNA), the Iranian oil minister remarked: 'Babak Zanjani has not returned more than $2.7 billion of oil money, and in my opinion, he never intended to repay it from the beginning. He is currently in custody, and the judiciary and prosecutor's office are pursuing this matter.' Babak Zanjani, who is said to have collaborated with the Iranian Ministry of Oil during Mahmoud Ahmadinejad's presidency in selling oil and transferring its funds after the intensification of international sanctions against Iran, was arrested in January 2014 for failing to pay his debt to the Iranian Ministry of Oil and was transferred to Evin Prison. During Ahmadinejad's second term, individuals like Babak Zanjani were responsible for circumventing international sanctions by selling part of Iran's oil. The Iranian oil minister also commented on the order for the transfer of Zanjani's assets to the ministry, stating: 'For the transfer of assets, Jafari Dowlat Abadi ordered last week that the assets be transferred to the account and in the name of the Ministry of Oil.' He clarified: 'The Ministry of Oil has been given power of attorney, and transfer actions are underway, and the day the transfer begins will be the pricing day; however, the value of the assets is not enough to cover his entire debt.' According to IRNA, 'Judicial officials, after announcing that Zanjani's assets were insufficient to pay his debts, sent messengers to Turkey, Malaysia, and Tajikistan regarding the sale of his assets.' Meanwhile, Hossein Dehdashti, head of the parliamentary committee following Zanjani's case, stated last week that some of his assets had been identified in Tajikistan, and the documents had been sent to the judiciary. Amir Abbas Soltani, another member of the committee, also responded to the question of whether these assets were sufficient to reconsider the sale for debt repayment, saying: 'Zanjani's assets in the country were about 2 trillion tomans, which will be transferred to the Ministry of Oil, but most of his assets are abroad, and no practical action has been taken regarding them so far.' This parliament member also commented on a check reportedly issued by Zanjani due in May, saying: 'There has always been talk of these checks, but neither has it been operationalized nor paid. It seems that Mr. Zanjani, who is in a safe place, uses this method to deceive people.' Before his arrest, Babak Zanjani claimed to own over 70 companies and tens of billions of dollars in assets in Iran and abroad.