Policy & Legal Updates
Investigation Details Parsian Exchange Moving Millions in UAE Dirhams and Yuan
An investigation by Iran International based on leaked documents reveals that US-sanctioned Bank Parsian used its foreign-exchange arm, Parsian Exchange, to move funds abroad via intermediaries between November 2022 and May 2023. Leaked instruction letters directed roughly $36 million in UAE dirhams, Chinese yuan, and US dollars to overseas bank accounts designated by Iranian importers. The transactions utilized Iranian export proceeds held overseas to obscure ties to sanctioned Iranian institutions.
