How do Iranians move money abroad to avoid US sanctions?

What the report says

Tehran, Iran — Al Jazeera reports that decades of sanctions, intensified during the current US-Israeli war on Iran, have made it hard for Iranians to use normal banking channels for overseas payments. As a result, individuals and businesses have increasingly relied on informal methods to move money abroad, including currency-exchange networks, intermediary firms, private person-to-person arrangements, and cryptocurrency.

The article says these workarounds can help settle payments for goods and services, but they often bring added costs, delays, trust problems and security risks. Currency brokers and intermediary firms may bridge the gap between local and foreign currency needs, yet they can be expensive and complicated. Private transfers depend heavily on trust, with no formal legal protection if a deal falls through.

Crypto has also become an option, but Al Jazeera notes that it is not a safe or guaranteed solution. The US Treasury’s sanctions on several Iranian crypto exchanges earlier this year, along with the risk of traceable transactions and internet disruptions, have limited its appeal. The report also says war-related disruptions have slowed imports through routes such as Shanghai, increasing uncertainty for businesses.

Beyond payment problems, the article highlights the impact of the rial’s weakening value, which has reduced purchasing power and made foreign purchases more difficult. Overall, Al Jazeera presents Iran’s sanctions-hit financial system as one where moving money abroad remains possible, but increasingly risky, costly and unreliable.