Sunday , 19 January 2020

Economy

Mnuchin Says US Expects U.N. Sanctions On Iran To ‘Snap Back Into Place’

Radiofarda – Treasury Secretary Steven Mnuchin said Wednesday the United States believes international sanctions on Iran will be swiftly reimposed now that France, Britain and Germany have formally triggered a mechanism to help enforce Iran’s nuclear agreement. European Union Foreign Policy Chief Josep Borrell on Tuesday announced that Germany, France and the UK have launched action under the Iran nuclear …

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US Imposes New Sanctions on Iran

VOA – The U.S. placed more sanctions on Iran Friday in response to its missile attack on U.S. military troops in Iraq last week, and it threatened further action to weaken Iran’s economy if Tehran continues to carry out what it considers terrorist actions. Treasury Secretary Steve Mnuchin said at a White House news conference the new sanctions target Iran’s …

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Khamenei Orders Additional 200m Euros To Qods Force In Next Two Months

Radiofarda – Iran’s parliament speaker told lawmakers on January 7 that Supreme Leader Ali Khamenei last night authorized the allocation of 200 million euros of additional budget to the Qods Force in the next two months, to counter U.S. threats. Ali Larijani made the remarks before a triple-urgency bill called “Counter-Measures Against U.S.” was put to vote. Iran’s Revolutionary Guards …

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Iran Stocks, Currency Plunge In Reaction To US Killing Of Commander

Radiofarda – The main index of Tehran Stock Exchange (TSE) plunged by more than 3% within five minutes from the opening of trade on Saturday, the first working day of the week in Iran, while the Iranian rial lost more of its value against the dollar and crude oil prices went up in international markets. The drop is in reaction …

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Higher Gasoline Price In Iran Has Driven 60,000 Fishermen Out Of Business

Radiofarda – A newspaper in Iran has reported that the higher gasoline price announced in November has paralyzed the country’s family fishing industry, affecting 60,000 fishermen. Iran, which is under immense financial pressures due to U.S. sanctions tripled state gasoline prices on November 15 to around 22 US cents a liter or 83 cents a gallon. Even though prices were …

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Next Year’s Budget Balanced Only on Paper, Iran Parliamentary Think-Tank Says

Radiofarda – In a report published on December 25 Iran’s Majles Research Center, an influential parliamentary think-tank, said next year’s budget bill has only been balanced on paper. The report says the budget for the next fiscal year (starting March 21, 2020) will be 50 percent in deficit despite plans to issue government bonds as well as borrow from the …

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People Should Know Impact Of Being Blacklisted By FATF, Chief Of Staff Says

Radiofarda – Nearing the Financial Action Task Force (FATF) deadline of February, Iranian president’s Chief of Staff Mahmoud Vaezi warned about the consequences of being blacklisted by the international watchdog. Being blacklisted by the FATF will “deal a heavy blow” to Iran’s economy, Vaezi who was speaking at an official meeting in Ardabil Province on Tuesday said and underlined that …

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Budget plan reveals Iran’s shifting priorities in foreign policy

Al-Monitor – Iran’s parliament is studying a proposed budget for the next fiscal year amid an extremely tight economy suffering under intense US sanctions. One important aspect of this proposal is Foreign Ministry funding, which has been under increased pressure from both proponents and opponents of President Hassan Rouhani’s administration. Rouhani’s critics argue that Foreign Minister Mohammad Javad Zarif has been focused …

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Iran’s One Million Bpd Oil Export Estimate Is Just To ‘Inspire Hope’

Radiofarda – A spokesperson for the Islamic Republic Plan and Budget Organization (PBO) says President Hassan Rouhani’s administration exaggerated Iran’s expected oil exports in next year’s budget for political reasons. The budgetary assumption that Tehran will be able to export one million bpd of crude was intended to “inspire hope,” Mojgan Khanlou admitted on a radio talk show. After the …

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Annual Inflation In Iran At 40 Percent, Statistical Center Reports

Radiofarda – Iran’s Statistical Center (ISC) has reported the inflation rate to have reached 40 percent in the 12 months ending December 22. In the last 30-day period inflation reached 41.1 percent. The Iranian government and the Central bank have stopped reporting vital economic statistics since March, after currency devaluation, inflation and unemployment soared mainly due to U.S. sanctions. The …

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