Economy

Al-Monitor – Several top managers at Iran’s Ministry of Industry, Mine and Trade have been put behind bars as the nation increasingly discovers that rampant corruption is a major cause behind the current economic turmoil.

PayvandNews  – Iran has got a new central bank governor as the country is struggling to check a steep depreciation of the rial and root out a series of irregularities in its banking system. Abdolnaser Hemmati, 61, replaced Valiollah Seif as the top Iranian banker following a cabinet meeting on Wednesday, the Tasnim news agency reported.

RFL/RE – Iran will respond with equal countermeasures if the United States moves to block its oil exports, the Foreign Ministry says. “If America wants to take a serious step in this direction it will definitely be met with a reaction and equal countermeasures from Iran,” Foreign Ministry spokesman Bahram Qassemi was quoted as saying by the government news agency …

Al-Monitor – In recent weeks, Tehran has been trying to prevent the damaging impact of the reimposition of US secondary sanctions targeting the Iranian petroleum industry. Protecting the strategic value of its petroleum sector — both in terms of hard-currency earnings as well as technological impetus for industry — will, however, depend on Tehran’s ability to attract foreign investment and …

Al-Monitor – The Middle East is a place of zero-sum games in which Iran is a player. Beyond the region, however, in Eurasia, Tehran is attempting to take part in a win-win game.

Radiofarda – Following Russia’s lead, EU leaders are exploring the possibility of circumventing U.S. sanctions on Iranian oil sales by trading oil for goods instead of purchasing it, according to Iranian officials.

Al-Monitor – Proceedings against the key suspects involved in one of the biggest ever fraud cases in Iran’s history have disclosed fresh details to the public. “Footprints of some celebrities and officials in Samen al-Hojaj case” read the Reformist Shargh daily’s July 18 front page. Samen al-Hojaj is one among several Iranian credit and financial institutions (CFIs) that have closed down due …

Radiofarda – Protests by Iranian teachers against their low salaries has gained momentum in recent days, social media reports say.

Radiofarda – New statistics released by the World Bank reveal that Iran has had a painful economic decline during the past four decades of the Islamic Republic’s clerical rule. It appears that those who take pride in Iran’s widespread military presence in the region, deliberately or unknowingly ignore the collapse of the country’s national economy. New statistics released by the …

Radiofarda – Iran’s Guardian Council (GC) has rejected two government bills aiming to pave the way for Tehran to join the United Nations Convention against Transnational Organized Crime (UNTOC).