Iran Oil Network Accused Avoids Jail Ahead of Extradition Hearing

A shipping businessman accused of evading US sanctions to buy vessels for a multibillion-dollar Iranian oil network has defeated prosecutors' bid to overturn a London judge's decision granting him bail while he fights extradition on fraud charges.

The businessman, who has not been named in the source, was granted bail by a London judge despite prosecutors arguing that he posed a flight risk due to his alleged involvement with Iran's oil network and his connections to the country.

A Law360 article reports that the businessman defeated the prosecutors' bid to overturn the bail decision, with the judge ruling that the businessman should remain on bail while he fights extradition to the US.