Shafaq News- Ilam
Judicialauthorities in Iran’s Ilam province convicted a traveler for attempting tosmuggle large amounts of foreign currency, an Iranian official said, describingthe ruling as one of the largest in economic crime cases in the province.
Seyed Mehdi Mohammadi, head of the Governmental Discretionary PunishmentsOrganization in Ilam, said authorities seized 96.5 million Iraqi dinars (about$63,000) and $55.7 million from the suspect. The court ordered the confiscationof all funds and imposed a fine of 361.17 billion Iranian rials (about$275,000) payable to the state treasury. He added that the ruling is part of abroader campaign to curb currency smuggling and illegal speculation affectingthe regional economy.
The Mehrancrossing, opposite Iraq’s Zurbatiyah crossing in Wasit province, is one of themain land routes for trade and travel between the two countries, withauthorities on both sides frequently reporting similar smuggling attempts.
On May 4, Iranianborder guards confiscated over 50 billion rials (around $28,000) at the Mehrancrossing after discovering the cash hidden in the luggage of foreign travelersattempting to leave the country.
The Iranian rial has dropped in unofficial markets, driven by inflation,sanctions, and growing demand for US dollars, leading to tighter liquidity andlimited cash availability, while reports indicate that smuggling may bedeepening shortages and disrupting everyday transactions.