How 'ghost ships' work that generate billions in revenue to finance the Iranian Revolutionary Guard
The Iranian Revolutionary Guard finances its extensive operations through a clandestine oil trafficking network involving 'ghost ships' that evade international sanctions.
The Iranian Revolutionary Guard Corps (IRGC) is not only a military force protecting the Iranian regime, but also oversees a vast economic empire that spans various strategic sectors such as construction, infrastructure, and petrochemicals. Their enterprises are involved in significant national projects, contributing billions of dollars towards the Iranian economy through ventures in road construction, real estate development, and energy production.
A crucial aspect of the IRGC's financial backbone is derived from oil revenues. With much of the Iranian oil market's income funneling into the Guard's budget, this funding supports both domestic operations and international endeavors. However, the Iranian government faces stringent international sanctions that hinder the official oil trade, pushing them to develop a clandestine maritime strategy.
This covert operation involves the daily movement of approximately two million barrels of oil from Iran's coast towards international waters, particularly targeting regions like Indonesia. These 'ghost ships' operate outside conventional trading routes, effectively evading monitoring and sanctions. This method of operation not only raises concerns about the global oil market's integrity but also underscores the challenges faced by international bodies attempting to regulate Iran's economic responses.