Skip to navigationSkip to content

Iran’s swashbucking speedboat smugglers are latest victim of sanctions squeeze

By Quartz Staff in Dubai

A link from Reuters

Throughout the years of western-led sanctions, daring young men piloting lightning-fast speedboats have helped to keep Iran’s economy afloat by plying the Strait of Hormuz to Oman’s Musandam peninsula and the United Arab Emirates–until now. The free-fall of the Iranian rial has hollowed out the trade, not to mention patrols by Iran’s notoriously corrupt naval-borne police.