A Mysterious Case Involving Turkey, Iran, and Rudy Giuliani

19 Apr

The mysterious case of Reza Zarrab, a Turkish-Iranian businessman facing federal charges in New York, has grown even stranger over the past couple of weeks.Zarrab, who is thirty-three, was arrested by F.B.I. agents, in Miami, last March. At the time, he was one of the flashiest and wealthiest businessmen in Turkey. He sported a pouf of black hair; owned twenty houses, seven yachts, and a private jet; was married to one of Turkey’s biggest pop stars; and counted among his friends Recep Tayyip Erdoğan, Turkey’s strongman President.The U.S. government, however, believes that Zarrab masterminded a sprawling operation to help the Iranian government evade economic sanctions that were put in place to hinder the country’s nuclear-weapons program. Zarrab’s operation—which relied on what the Turkish government claimed was a legal loophole in the sanctions—involved shipping gold to Iran in exchange for oil and natural gas, which Zarrab then sold. The scheme, according to prosecutors in New York’s Southern District, involved moving enormous amounts of cash, gas, and gold; at the operation’s peak—around 2012—Zarrab was buying a metric ton of gold and shipping it to Iran every day. The Obama Administration protested Zarrab’s operation, which the media dubbed “gas for gold,’’ but he carried on anyway. For the Iranians, the gold was as good as American cash, and it helped shore up the rial, Iran’s currency, whose value was collapsing.

Source: A Mysterious Case Involving Turkey, Iran, and Rudy Giuliani – The New Yorker

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Posted by on April 19, 2017 in Middle East, North America


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