Economy

iranintl – Iran has made strides in recovering portions of its blocked financial assets, foreign minister Abbas Araghchi announced, while emphasizing that billions remain inaccessible due to international sanctions. “Some of it has been released through efforts, while some still remains. This issue is on our agenda, and we continuously pursue it,” Araghchi said on Monday, speaking at the Supreme …

Iranwire – An Iranian official has revealed that up to 27 per cent of the country’s population struggles to meet basic needs. Ebrahim Sadeghifar, the head of Iran’s Institute of Labor and Social Welfare, reported that poverty rates now range between 22 and 27 percent. He said that poverty has shifted from being a concern to a central social issue …

iranintl – Iran expects to sign a comprehensive cooperation agreement with Russia on January 17 during President Masoud Pezeshkian’s visit to Moscow, government spokesperson Fatemeh Mohajerani told Sputnik Saturday. Referring to earlier discussions, Mohajerani noted that Iran’s president met with Vladimir Putin on the sidelines of the BRICS summit in Kazan, Russia, in October, and expressed optimism about finalizing the deal. …

iranintl – Motions for the impeachment of Iran’s economy and oil ministers have been officially submitted to parliament’s leadership, lawmaker Ahmad Naderi told Tasnim News Agency on Saturday. “So far, the impeachment of Mohsen Paknejad, the Minister of Oil, with 23 signatures, and the impeachment of Abdolnaser Hemmati, the Minister of Economy, with over 70 signatures, have been officially registered …

iranintl – Amid Iran’s winter energy crisis, natural gas supplies to 12 petrochemical plants have been suspended due to high residential demand, an Iranian official announced Saturday. “If residential consumption drops by just 10%, more gas can be directed to industrial units,” said Ahmad Mahdavi Abhari, Secretary General of the Petrochemical Industry Employers Association. He made the remarks during a …

iranintl – Iran has exported nearly 1.98 billion barrels of oil over the past four years since US President Joe Biden took office, United Against Nuclear Iran (UANI) said in its annual Tanker Tracker report released on Friday. Despite ongoing US sanctions, Iran increased its output by more than 10 percent in 2024, according to the US-based advocacy group. China …

iranintl – Iran’s parliament speaker on Thursday acknowledged mounting public frustration with the government, particularly over its energy management. “We live in a country with the world’s top oil and gas reserves, yet we lack electricity in summer and gas in winter,” Mohammad Bagher Ghalibaf said Thursday. “We must accept that today, people are complaining about the way we manage …

iranintl – Iran needs $45 billion in investment to resolve its chronic winter energy deficit and worsening air pollution, the country’s Oil Minister Mohsen Paknejad said on Wednesday. The funds are crucial to boost gas production to meet targets set by Iran’s long-term development plan, which on paper inform budgets and industrial policies. “According to the Seventh Development Plan, gas …

iranintl – Iranian workers face a deepening struggle as the minimum wage, which once covered half of basic living expenses, now meets just one-quarter of the costs, labor activists now warn. “With the increase in exchange rates and the instability of basic commodity prices, many workers are facing very challenging economic conditions, particularly tenant workers, whose wages can only cover …

iranintl – Iran’s central bank governor has accused the US-based website Bonbast of fueling the devaluation of the rial by setting unofficial exchange rates used by Iranian exchange offices. “The Bonbast channel, which determines the dollar exchange rate for all Iranian exchange offices starting at 9 AM, is registered in the US, and all its servers are also located there,” …