Anas Alhajji On the Energy Outlook, Climate Change and Arctic Oil
Macro Hive Conversations With Bilal Hafeez
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Iran
Historically, there were sanctions on Iran, not Iran, on Saddam Hussein. And we ended up with this oil for a foot deal, where which is kind of just saying oil for food is very painful. So the only way he can do it is literally to smuggle oil. At certain times he was smuggling hundreds of thousands of barrels a day and getting the money in cash to buy whatever he wants. Ironically, he just got out of the war with Iran and what the Iranians were helping him because there is a lot of money involved.
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