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The Hormuz Report
@HormuzReport
The Middle East. Energy. Markets. Geopolitics. Follow before markets move.
Joined May 2026
87 Following    74.7K Followers
BREAKING: Despite the U.S. naval blockade, Iran has imported at least $2 billion in missile and drone hardware through a shadow network of more than 5,000 Ministry of Defense agencies. per a Reuters investigation. Then the details sharpen it: one agency alone, MOD 346428, brought in $2.3 billion between January 2025 and June 2026 — rocket fuel ingredients, explosives, aircraft engine parts, and 435 Iveco trucks that can serve as mobile missile launchers. Shipments kept moving by land, sea, and air during the war itself. And in 97% of the reviewed transactions, no currency crossed a border at all. So on paper, there's a blockade. In practice, the missile supply never stopped.
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