Trump’s Blade on the Vital Artery of Iran and Venezuela
This report for the first time highlights the role of a shadowy figure in Iran’s sanctioned economy, who is also being disarmed. In recent years, Venezuela has become one of the key links in the informal architecture of oil trade and financial resource transfer for sanctioned countries. According to available information and narratives, a significant portion of the resource transfers from the sale of Iranian and Russian oil, as well as mechanisms to circumvent sanctions, were conducted through the Iran-Venezuela joint bank. This bank effectively operated beyond a bilateral financial institution and became part of a sanction-evasion financial-logistical chain.
At the center of this structure is Mohammad Ghazai Pakdehi, the CEO of the Iran-Venezuela bank, who previously had experience in banking supervision and is also known as a currency exchange operator. This combination of supervisory and operational experience, according to informed sources, played a decisive role in identifying gaps and designing financial routes outside the official network. These routes facilitated the transfer of money, bartering, and settlement of oil resources with minimal supervisory friction.
This network was not merely banking but was heavily reliant on Venezuela’s geopolitical position and access to Caribbean sea routes, where changing the origin of shipments, document transfers, and managing transportation risks enabled the continuation of oil and product exports.
With the intensification of the Trump administration’s pressures and the practical blockade of Venezuela—from restrictions on ship entry and exit to increased insurance risk and port services—this vital route has gradually been blocked. The outcome of this situation is increased costs, reduced efficiency, and heightened risk of detection across the entire chain that previously served as a sanction-evasion solution.
In this context, recent developments should be considered a turning point, where the roles of individuals like Mohammad Ghazai Pakdehi and structures like the Iran-Venezuela bank are more than ever under pressure and scrutiny. The coming days will be more challenging and decisive not only for Venezuela but for the entire financial and oil strategy of Iran under sanctions.