Iranian oil ministry agrees to receive jailed tycoon’s assets for his debts

Photo: Iranian oil ministry agrees to receive jailed tycoon’s assets for his debts / Economy news

Baku, Azerbaijan, Jul. 15

By Umid Niayesh - Trend:

Iranian oil ministry has agreed to receive jailed multi-billionaire Babak Zanjani's assets for his debts to the ministry, senior judiciary official has announced.

Iran's Prosecutor General and the spokesman of the judiciary Gholam Hossein Mohseni Ejei said that the oil ministry has agreed that the Zanjani's assets will be priced and transferred to the ministry, the country's Mehr news agency reported on July 15.

Mohseni Ejei went on to add that the ministry was already opposing the issue, but finally agreed the decision in a meeting which was held this week regarding the handling of Zanjani's assets in order to pay some of his debts.

However Iranian Oil Minister Bijan Namadar Zanganeh said on 10 July that the assets of Zanjani will only cover 40 percent of his debts to the ministry.

Mehr news agency quoted Zanganeh as saying Zanjani's debt exceeds 80 trillion rials (some $3 billion based on official rate of 25,900 rials per each USD) and the value of his assets hardly reaches 30 trillion rials.

Zanjani's assets include jets, cars and properties which are useless for the ministry, Zanganeh remarked.

Zanajani was arrested in December 2013 for his debts to the oil ministry and the Central Bank, for forging bank documents, and for bribing the Bank of Tajikstan.

The Iranian multi-billionaire is the owner or shareholder of at least 70 companies and banks, including Bank Arzesh in Tajikistan and First Islamic Bank and had been involved in Iran's oil sales and transferring the sold oil's money to the country to bypass the imposed western sanctions on the country.

Iranian judiciary has already seized the Zanjani`s assets in Iran.

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