An $870m debt-relief deal suggests that Iran International, an Iranian opposition outlet, has ties to Saudi Arabian investors, according to a Financial Times report on Thursday. The links stem from documents related to a debt-for-equity swap that Iran International conducted in December to shore up its finances. Iran International has spent hundreds of millions of dollars since its founding in 2017 by British-Saudi investors, the FT reported.
According to the report, Iran International’s parent company, Volant Media UK, has lost more than $550m over the past five years, and it owes related entities about $645m. Those numbers came from documents that the FT reported as covering the financial year ending December 2024.
Iran International says it is the “most popular Persian speaking foreign based news channel in Iran”.It employs 700 people and broadcasts into Iran from London via satellite, radio and social media outlets.
Iran International has been accused by critics of promoting “regime change” in Iran and advancing the position of the former shah’s son, Reza Pahlavi, for a return to power. The outlet has long denied links to Israel or Saudi Arabia.
Iran International reported heavily on protests that struck Iran at the beginning of this year, sparked by a cost-of-living crisis brought on, in part, by US sanctions.
In January 2025, the news site reported that more than 36,500 people were killed in a crackdown on protests. Those numbers were significantly higher than those estimated by the US and other western-based human rights groups.
US President Donald Trump cited casualty numbers similar to those reported by Iran International days before launching a war on Iran on February 28, but did not disclose where he had gotten the death toll number.
Hellbound and Down 