A secret banking and financial system has helped Iran circumvent sanctions against it, The Wall Street Journal reported on Friday, citing information it received from unnamed Western officials and documents.
Iran has created a network between domestic banks and companies and their proxies based outside of the country that conduct trade in oil and other sanctioned products in foreign currencies.
The success of Tehran's system is evident in trade information and it even helped Iran improve its negotiating position during the ongoing nuclear deal talks, according to the report.
