How Government Corruption Turned Iran’s Oil Wealth Into A Chain Of Economic And Institutional Crises - OpEd - Eurasia Review
How Government Corruption Turned Iran’s Oil Wealth Into A Chain Of Economic And Institutional Crises - OpEd - Eurasia Review
Source: Eurasia Review
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DW NOTE
Iran was exporting 3.2 million barrels a day before the 2018 sanctions. Now it ships maybe 400,000, mostly to China at a discount. The corruption didn't turn oil wealth into crisis — it prevented the regime from adjusting when the oil wealth disappeared. Every institution built to distribute rents collapsed when there were no rents left to distribute.