TEHRAN (Iran News) Ali Akbar Pour Ebrahim said in an interview that different groups of oil trustees emerged in recent years. One group consisted of oil buyers who sold crude but failed to return proceeds. A second group handled the transfer of oil revenues through intermediary accounts. According to him, in many cases the buyer fulfilled obligations, but funds became “stuck” in intermediary accounts where misuse allegedly occurred.

He also described a third category engaging in what he called “false confirmations,” claiming oil payments had been transferred when, in fact, no funds were received. In such cases, he alleged collusion between buyers and financial intermediaries, with delayed transfers generating shared profits.

Pour Ebrahim said that during the administration of former President Hassan Rouhani, oil revenues were managed directly under the Oil Ministry’s oversight through trustees controlled by NICO. Funds, he claimed, were received directly and used for essential imports such as medicine and basic goods.

However, he alleged that during the administration of late President Ebrahim Raisi, the mechanism changed. Oil Ministry–controlled trustees were dissolved and replaced with banking intermediaries supervised by commercial banks under the Central Bank. He said exchange networks opposed the previous structure because it limited commission earnings on large currency transfers.

According to Pour Ebrahim, by late 2023 supervisory bodies had formally warned the government that roughly $11 billion in oil revenues had not been returned and were “deposited” in trustee accounts. He claimed he had no doubt that part of the funds had been misappropriated.

He said he raised the issue again at the start of President Masoud Pezeshkian’s administration, urging immediate follow-up amid foreign currency shortages. Pezeshkian reportedly ordered a review.

Pour Ebrahim alleged that in a subsequent meeting attended by senior officials—including Oil Minister Mohsen Paknejad and Central Bank Governor Mohammad Reza Farzin—his claims were dismissed. He said Farzin described the report as “nonsense” and guaranteed the funds would return. Pour Ebrahim later said he was removed from his position after raising concerns directly with the president.

In one of his most striking claims, Pour Ebrahim alleged that some trustees enriched themselves rapidly, purchasing luxury properties and Rolls-Royce cars in the United Arab Emirates. He said individuals operating through “small, shell companies” had gained sudden wealth from oil funds.

He also claimed that controversial businessman Babak Zanjani re-entered the oil trade after his own removal, suggesting management changes enabled such developments.

Pour Ebrahim strongly criticized reports that authorities may allow trustees to settle foreign currency debts by importing goods such as essential commodities, solar panels, or vehicles. He called the move “a disaster,” arguing that hard currency obligations must be repaid in currency, not through potentially overpriced goods.

“If a trustee owes $1 billion but only has $400 million left, settling with goods opens the door to inflated invoices to mask the shortfall,” he alleged.

He further questioned the adequacy of guarantees obtained from trustees, claiming collateral was often far below the value of oil proceeds handled.

Pour Ebrahim concluded that the alleged failure to repatriate oil revenues has contributed to currency instability and economic strain. He urged authorities to compel repayment—if funds still exist—and to restore previous oversight mechanisms under direct Oil Ministry control.

Government officials have not publicly confirmed the figures cited, and no formal judicial rulings have been announced regarding the allegations. Nonetheless, the claims have reignited debate over transparency and oversight in Iran’s oil revenue management system.

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TEHRAN (Iran News) Speaking before the Majlis on Tuesday, Pourmohammadi presented a comprehensive report on government initiatives to stabilize the economy and assist low-income families. He said that the administration faced two major challenges this year — a 12-day imposed war, which he described as “one of the most significant confrontations in Iran’s modern history,” and a sharp fall in global oil prices.

“Last year, oil sold for around $71 per barrel, but this year it dropped to $51, severely limiting our foreign exchange revenues,” he said. “These two events — war and the oil price drop — have had a direct impact on Iran’s economy.”

Despite these setbacks, Pourmohammadi emphasized that the government had maintained financial stability, ensuring that payments to public sector employees, pensioners, and development projects were made without interruption. “Even under these pressures, spending on infrastructure projects has increased compared with the same period last year,” he noted.

Pourmohammadi said that long-standing financial issues affecting retirees and farmers had been resolved. “The pension equalization problem that caused concern last year has now been fully addressed. We are regularly paying 180 trillion tomans each month to retirees,” he said.

He added that arrears owed to retired teachers from 2021 have been completely cleared and that payments to wheat farmers were made earlier than in previous years. “Even cash subsidies have been disbursed on time — not a single hour late,” he said proudly.

Pourmohammadi stressed that 100 percent of the government’s oil income is being allocated to the import of essential goods and medicine, using the official exchange rate of 28,500 tomans per dollar. “Although this amount is not sufficient, the government borrows an additional $2.5 billion annually to reinforce this allocation,” he explained.

He acknowledged the strain this policy puts on the state budget but said it was necessary to protect people’s livelihoods. “The government is under immense pressure to maintain stability, but despite our efforts, challenges remain in practice,” he added.

The Vice President pointed to inefficiencies in the distribution and pricing systems, noting that subsidized goods often reach consumers at inflated prices. “For example, rice imported at 28,500 tomans per dollar should be sold for 60,000 to 70,000 tomans per kilogram, but consumers are paying 100,000 to 200,000 tomans. The system is flawed — we’re holding ice to hand to the people, but it melts before it gets there,” he said.

He also highlighted inefficiencies in food production, noting that Iran requires 1.9 kilograms of animal feed to produce 1 kilogram of meat, whereas global standards are 1.4 kilograms.

Pourmohammadi argued that current welfare mechanisms are ineffective and outdated, saying: “We spend heavily to support households, but people remain dissatisfied because the benefits don’t reach them properly. Clearly, the mechanism must be reformed.”

He added that subsidies provided at the official exchange rate often end up being sold at free-market prices, indicating deep flaws in trade networks, intermediaries, and bureaucratic procedures.

Pourmohammadi described poverty in Iran as increasingly multidimensional, saying that even though infrastructure in water, electricity, and transport has improved, many citizens still face food insecurity, poor health, limited education, and lack of housing.

He reported that the government currently allocates 940 trillion tomans annually to poverty alleviation and welfare programs — including 600 trillion tomans in direct subsidies — spread across multiple organizations. However, he criticized the fragmented approach, arguing that “a single prescription for all social problems no longer works.”

He urged policymakers to focus next year’s budget on targeted support for the most vulnerable groups, addressing not only income but also education, healthcare, housing, and employment. “The poorest citizens often cannot make their voices heard. We must design programs that truly identify and respond to their specific needs,” he said.

Since the start of the Persian New Year, the government has implemented four rounds of electronic voucher (Kalabarg) payments, Pourmohammadi said.

For income deciles 1–3, each person received 500,000 tomans, equivalent to 2 million tomans for a family of four.

For deciles 3–7, each person received 350,000 tomans, or 1.4 million tomans per family of four.

He emphasized that both large retail chains and small neighborhood stores have been included in the e-voucher system to ensure local shopkeepers are not left out.”Oil Revenues”

Pourmohammadi announced that a new and improved version of the electronic voucher program will be introduced on a trial basis in November.

The new system will feature: Comprehensive coverage — reaching all citizens, from remote rural areas to nomadic communities; Uniform pricing — between five and seven essential goods will be made available at fixed prices nationwide for six months to a year, with any adjustments managed centrally; and Integrated supply chain — stronger coordination between producers and distributors to prevent losses in agriculture and livestock sectors. The government will bear exchange rate and inflation risks by establishing fixed-price contracts with suppliers.

He said the plan is being finalized jointly by government agencies and other branches of power. “This program must be implemented carefully so that essential goods, producers, and distributors are not harmed,” he explained.

“Oil Revenues”

Pourmohammadi acknowledged that the first month of the pilot phase may present some challenges but said these would be reviewed and resolved. “Once we are confident in its performance, we will expand the program nationwide. The goal is to eliminate inefficiency and bureaucracy, and with the parliament’s cooperation, create a modern welfare system that truly improves living standards,” he said.

He concluded by reaffirming the government’s full commitment to the plan: “The leadership and the President personally emphasize the importance of the Kalabarg initiative in every cabinet meeting. This program is not just an economic reform — it is a social promise to ensure stability and fairness for all Iranians.”

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We will not agree to the mechanism “if it aims to put all of Iran’s revenues into one place without giving us the freedom to make purchases of our own choice.”

He stressed that the management of the country’s oil revenues must be totally in Iran’s hands, adding “if they are planning to use INSTEX as a means to concentrate all of our oil revenues into this channel, this means that enemies are trying to control our financial resources and purchases.”

If Iran’s oil revenues are put into one place, this would give the US a chance to block Iran’s accounts under any pretext or try to take advantage of our resources, he warned.

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The Islamic Parliament Research Center (IPRC), in its recent report, has discussed ways to reach a non-oil economy, the one which is not dependent on oil revenues.Among the discussed methods by the Research Center, it can be referred to levying taxes on capital gains, on costly real estate and imports management.

“No economist supports continuation of sanctions. Economic sanctions weaken the country’s production power and reduces people’s welfare in the long and short run,” the report says.

However, the report admits that reducing reliance on oil income cannot be translated into decreasing oil exports to zero but as it discusses, in case oil exports drop to zero, the conditions would be manageable via managing balance of payments and controlling the forex market.

Urging the government to take a sustainable anti-sanctions attitude, the report calls for taking required measure to amend the foreign exchange rates, market and in general the structure of forex sector.

In recent months, the government has been dealing with unpredictable foreign exchange rate fluctuations which have directly influenced the prices of basic goods, raw materials, and domestic unofficial markets.

Accordingly, the government has been determined to review and modify its monetary policies about setting foreign exchange rates, curb the rampant inflation and high liquidity volume and supply the present budget deficit via relying on stock market.

It also has sought to move toward a non-oil-reliant economy to be able to prevent its operating costs, surpass its income, to tackle the rampant inflation, increase the income of its employees and pay the intended cash subsidies to lower income-earners without increasing the prices of energy carriers and fuel or levying higher taxes, which do not seem to be welcome by the Iranian nation under the ongoing conditions.

Based on the latest data released by the Islamic Republic of Iran Customs Administration (IRICA), in the first two months of the current Iranian calendar year (March 21- May 21), Iran exported $8.4 billion of non-oil products. The figure shows an increase of 7.1 percent from $7.7 billion in the same time span in the year preceding.

On May 14, Iranian first Vice-President Es’hagh Jahangiri announced that the country’s reliance on oil income has dropped below 30 percent. The government could manage to decrease Iran’s dependence on oil revenues from its previous 80-90 percent to less than 30 percent, the Iranian official said.

In recent days, the forex rates have experienced a cooling trend and the central bank claims to have more control over its foreign exchange market. CBI believes the decline is the result of the formation of the CBI’s planned Regulated Foreign Exchange Market, which could make the market balanced via fair distribution of forex resources among domestic exporters who have re-injected their exports revenues back into the economy cycle.

Some, however, believe that the drop is due to political reasons: the visit of the Japanese foreign minister to Iran.

Whatever the reason is, the predictability of this market is still low. No one can foresee the market’s trend even in near future.

As discussed, regarding Trump’s new round of sanctions on Iranian metal and petrochemicals sector, the need for an indigenous economy and boosting production to have non-oil exports revenues augment is more highlighted.

Increasing non-oil exports to neighbor countries besides making structural economic modifications are hoped to revive the breathless economy.

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Governor of the Central Bank of Iran said Sat. that the foreign currency generated from oil revenues will be allocated to the import of necessity and strategic goods.

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