Babak Zanjani, an Iranian oil sales middleman sentenced to death for embezzling the proceeds, may be released, as the judiciary has confirmed that his overseas assets were transferred to the country to settle his debts.
Zanjani, a regime insider once hailed as Iran's wealthiest man, was tasked with exporting oil circumventing international sanctions in the early 2010s when Mahmoud Ahmadinejad was president. He failed to pay back about $3 billion. Zanjani was arrested and convicted in 2013 after Hassan Rouhani was elected president. His accomplices in the government were never identified. It would not have been possible for him to embezzle such a large amount of money without insider support.
Earlier in the week, his lawyer, Rasoul Kouhpayehzadeh, pleaded for his release in light of recent disclosures by the Judiciary, which stated that Zanjani’s assets abroad have been located and transferred to Tehran to offset his debts and liabilities.
Chief Justice Gholam-Hossein Mohseni-Ejei claimed that, according to preliminary assessments, the collected assets are worth more than what he owes. Zanjani's assets in Iran had been confiscated by court order after his arrest but they were reportedly only a fraction of the assets abroad that he initially refused to repatriate. Iranian authorities have not released any details or figures about his assets.
However, Khabar Online website, which is close to moderate conservatives, reported Tuesday that the total value of Babak Zanjani's assets abroad is estimated to be around $4 to $5 billion. According to the report, approximately $2 billion has been deposited into the central bank's account following the sale of his foreign assets. Zanjani's total debt was about $2.8 billion. A portion of this amount, approximately $1.3 billion, was repaid after the seizure of Zanjani's assets within the country, which included Sorinet Holding Company and Qeshm Airlines. The remaining $1.5 billion was updated to $2 billion, taking into account the accumulated interest over several years.
Zanjani sold Iranian oil on behalf of the National Iranian Oil Company (NIOC) during Ahmadinejad's second term (2009-13) through an elaborate network of black-market dealers and money-launderers − particularly in the UAE, Turkey and Malaysia. According to his statements, he had managed to transfer $17 billion of the proceeds from oil sales to the country by 2013.
The shifting political landscape in Iran transformed Zanjani, once synonymous with immense wealth and influence, into a figure facing legal scrutiny and international sanctions, thrusting him into a high-profile legal battle with widespread ramifications. His name is linked to various high-profile economic scandals and legal investigations.
In addition to failing to repatriate oil sales proceeds, he is also accused of securing foreign currency from Iran’s Central Bank for imports, selling it in the black market. In another case he was accused of misappropriating funds from Iran's Social Security Organization in collaboration with Saeed Mortazavi, the former head of the organization who was also Iran’s former deputy prosecutor general.
At the time of his arrest and trial, Iranian media highlighted his ties to the Revolutionary Guards (IRGC), while some outlets portrayed him as a scapegoat. Subsequently, he was sanctioned by the Council of the European Union in December 2012 and by the United States Treasury in April 2013.
Zanjani, now over 50 years old, built a business empire in a short time, claiming his net worth was $13.5 billion. Zanjani had reportedly stashed billions of dollars from oil sales in foreign bank accounts or invested the money abroad in a range of enterprises including hospitality, commercial aviation, infrastructure, and real estate. He once said in an interview that he owned 64 companies.
The Islamic Republic has numerous mechanisms in place through a wide range of entities and organizations to sell its oil via third parties to evade sanctions. The country has also started giving oil to state organizations, including the IRGC, to boost their budgets without allocating any money to them. Such operations are usually carried out by a network of state bodies and businesspeople with close ties to the regime, who usually gain huge profits in the process. However, with every new administration in office, former assets become a liability and bear the brunt of the political games of the regime.
Documents leaked by a cyberattack on the Iranian parliament’s media arm last week revealed the parliament's coordination with designated Iranian entities and individuals to facilitate their trade activities and conceal their identities and connections from international regulatory bodies as the ever evolving web of sanctions evasions continues.
From surviving a poisoning attempt orchestrated by the Kremlin, to boldly returning to Russia despite the risks, Navalny's journey embodies the spirit of defiance against tyranny.
Navalny's activism began long before his poisoning in August 2020. As a prominent anti-corruption crusader and political opposition leader, he had long been a thorn in the side of Vladimir Putin's regime. His relentless investigations into corruption at the highest levels of government exposed the rot at the core of Putin's rule, earning him both admiration and ire from supporters and adversaries alike.
But it was the brazen attempt on Navalny's life that catapulted him onto the international stage and transformed him into a symbol of resistance against Putin's authoritarian regime. Despite suffering near-fatal poisoning with Novichok, a deadly nerve agent, Navalny defied the odds and survived. His recovery, against all odds, was a testament to his resilience and determination to continue the fight for justice.
Navalny's return to Russia in January 2021, just months after his poisoning, further underscored his unwavering commitment to his cause. Despite the genuine threat to his life, he chose to confront his would-be assassins head-on, declaring, "I'm not afraid." His defiance in the face of danger inspired millions of Russians who yearned for change and galvanized a new wave of opposition to Putin's regime.
Navalny’s life and death has undoubtedly left a deep impression on activists facing tyrannical regimes around the world, including in Iran, where hundreds of dissidents suffer isolation and often torture in prisons. Many Iranians voiced outrage upon hearing the news of his passing in a Gulag prison, flooding social media with messages of support.
In his powerful courtroom speech during his trial, Navalny minced no words in condemning Putin and his cronies for their corruption and oppression. He spoke not just for himself but for the millions of Russians who have suffered under Putin's rule. His words were a rallying cry for those who refuse to be silenced by fear, a call to action for all who believe in democracy and human rights.
Navalny's court defense succinctly highlights his defiance against Putin's regime and his unwavering commitment to justice. He accuses Putin of orchestrating his assassination attempt, asserting that his persecution stems from Putin's fear and hatred towards him for surviving the attempt. Condemning Putin as a cowardly "little man in a bunker," Navalny accuses him of resorting to murder to maintain power and brands him as "Vladimir the Underpants Poisoner." He challenges the trial's intimidation tactics, asserting that locking up one man cannot instill fear in millions. Navalny pledges to continue fighting despite facing imprisonment and urges others to do the same, demanding proper justice and fundamental rights such as participation in elections and equitable distribution of national wealth.
Navalny's activism, however, did not go unchallenged. Putin's regime, notorious for its brutal crackdowns on dissent, spared no effort in trying to silence Navalny and his supporters. From arbitrary arrests and politically motivated prosecutions to the use of state-sponsored violence, the regime sought to crush any opposition to its rule.
But Navalny remained undeterred. His courage in the face of adversity inspired countless Russians to join the fight for freedom and justice. His message resonated with those who had long suffered under Putin's repressive regime, giving voice to their aspirations for a better future.
As we mourn Navalny's passing, we must also celebrate his life and legacy. His death in prison is a tragic reminder of the lengths to which Putin's regime will go to cling to power. But it is also a testament to Navalny's unwavering commitment to his principles and willingness to sacrifice everything for the cause of justice.
As we honor Navalny's memory, let us renew our commitment to the values for which he fought so tirelessly. Let us demand justice for Navalny and all those whom Putin's regime has silenced. And let us continue to pressure Putin and his chain of corruption until justice prevails and freedom triumphs.
Let us call for the free world to recognize the severity of the situation in Russia under Putin's rule, rejecting the notion that continued dialogue will lead to meaningful change and instead urging decisive action, including the non-recognition of the upcoming Russian election. International solidarity is needed in addressing the crisis in Russia. It is time for the free world to stand up to Putin's tyranny and demand justice for the people of Russia.
As Navalny famously stated in an Oscar-winning 2022 documentary about his life by Canadian director Daniel Roher, "If they decide to kill me, You're not allowed to give up. If they decide to kill me, it means that we are incredibly strong. We need to utilize this power not to give up, to remember we are a huge power that these bad dudes are oppressing."
As he asked, we can't lose hope and must continue the fight. Dictators never rest, and neither can we. Let us join together, wiping away our tears, and pick up where he left off, standing firmly for justice and freedom.
According to Jamaran News website, speaking to the leaders of Hambastegi [Solidarity], one of Iran's smallest Reformist parties, Khatami highlighted widespread dissatisfaction among educated youth, elites, and over 50 percent of the population who abstained from voting in the 2020 and 2021 elections. He also noted millions who cast blank votes.
Khatami cautioned the government against assuming satisfaction among past election participants with the country's situation. He emphasized the need for competitive, free, and fair elections, advocating for representation of reformists, conservatives, and all Iranians. He urged the government to address existing dissatisfactions seriously to ensure future elections are fair.
Khatami cautioned the government that "it should not assume that those who voted in the past two elections are necessarily happy about the country's situation."
Khatami further said, "A free, fair, and competitive election is an election in which not only the reformists and conservatives, but also all other Iranians can have their own candidates." He expressed hope that "the government takes the existing dissatisfactions seriously and paves the way for free and fair elections in the future."
Since the establishment of the Islamic Republic in 1979, only individuals loyal to the clerical regime have been permitted to run in elections. Those with dissenting views not only faced bans on political activities but also risked arrest and lengthy prison terms.
In another development, Mohammad Taghi Akbarnejad, a conservative cleric at the Qom seminary was arrested on February 17 for his critical comments about the upcoming elections and Supreme Leader Ali Khamenei and his regime's track record during the past 45 years. Akbarnejad said in a video that went viral on social media that "both voting and not voting in the elections carry a message to the government and reflect people's reaction to the officials' [objectionable] performance."
He also compared Iran's economic situation to those of China and South Korea: "This government has had 45 years to prove itself. It has been in control of a wealthy country for 45 years. We own eight to nine percent of the wealth of the whole world. In the modern world 45 years is a lot of time. China has become [modern] China during the past 45 years. South Korea has become what it is during the same 45 years."
Iran’s GDP is less than half of its neighbors Turkey and Saudi Arabia, while before the revolution it was the leading economic power in the Middle East.
Akbarnejad continued to make startling remarks as a conservative cleric. He directly challenged the leaders of the Islamic Republic by questioning the practical benefits of their religion for the people. "I do not believe in a religion that does not serve the nation's interests," he boldly declared. It's worth noting that, as a devout Muslim, he was questioning the application of religious principles by the rulers rather than expressing disbelief in religion itself.
Following his arrest, the number of his followers on Instagram rose from around 1,000 to over 93,000.
In yet another development , following a panel discussion about the election at the University of Tehran, which turned out to be mainly about the expected low turnout, former government spokesman Ali Rabiei wrote about his take on the reasons for a likely low turnout in an article for Etemad Online website.
"When those in power are not prepared to make any compromise, the society falls out with the government and avoids any form of reconciliatory behavior," he argued.
He censured a small yet powerful faction for engineering a political deadlock fueled by narrow factional interests, which prioritizes their own agenda over national security. Rabiei concluded by asserting that Iranians are utilizing the elections as a platform to articulate their discontent.