Economy

Al-Monitor – The United States on Thursday imposed sanctions on seven senior Iranian leaders linked to the country’s violent suppression of nationwide protests and continued clampdown on internet access. Those blacklisted by the Treasury Department include Iranian Communications Minister Eisa Zarepour, who it blamed for Iran’s digital crackdown, and Minister of the Interior Ahmad Vahidi, who has oversight of Iran’s Law Enforcement …

RFL/RE – Iran’s national currency, the rial, fell to a record low against the U.S. dollar amid a wave of protests triggered by the death in custody of a young woman. The rial traded at 331,800 to the dollar on October 3, according to traders in Tehran and the Bonbast.com foreign-exchange website, down from the quoted price of 316,800 a …

Al-Monitor – The Iranian government amended the terms of its free trade agreement with Syria Sunday night.  What happened: Iran’s governmental Cabinet, headed by President Ebrahim Raisi, decided to lower the tariff on goods specified in its free trade deal with Syria from 4% to 0%. The Cabinet made the decision during a session, the official Islamic Republic News Agency reported.  The Syrian …

Al-Monitor – Iran is getting closer to joining China and Russia in the Shanghai Cooperation Organization. Reuters reported Thursday that at a summit in Uzbekistan this week, Iran signed a memorandum of obligations to join the group as a permanent member — an upgrade from its observer status.  What it means: The Shanghai Cooperation Organization works to strengthen security and trade cooperation in …

RFL/RE – Oil-tanker tracking companies estimate Iran’s oil exports increased for a third consecutive month in August. Data company Kepler, which provides tanker tracking services, told RFERL’s Radio Farda on September 14 that Iran’s unsold oil reserves at on-land facilities decreased by 6 million barrels to 50 million barrels, while Iran’s oil reserves on water also decreased to 93 million …

Iranwire – The governor of the Central Bank of Iran has announced the launch of a supposed Iranian “national cryptocurrency” named “RamzRial”. In a statement on Thursday, Ali Saleh Abadi said: “We previously announced RamzRial would go live by the end of September. In fact, the project started on a trial basis a few days ago. “A limited number of …

Al-Monitor – The United States on Wednesday announced sanctions on 10 individuals and two companies affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC) accused of conducting “malicious” cyber acts, including ransomware activity.  “Today’s actions demonstrate our commitment to disrupting ransomware infrastructure and actors,” Secretary of State Antony Blinken said in a statement. “The United States will not tolerate malicious cyber …

Al-Monitor – The United States on Thursday sanctioned an Iranian company it said was involved in the shipment of Iranian drones to Russia for use in Ukraine.  In a news release on Thursday, the Treasury Department accused the Tehran-based Safiran Airport Services of coordinating Russian military flights between Iran and Russia, “including those associated with transporting Iranian [drones], personnel and …

Al-Monitor – Iran’s trade with Turkmenistan during the first half of the year has already surpassed the entirety of bilateral trade last year.  Iranian Ambassador to Turkmenistan Gholam Abbas Arbab Khales told the official Islamic Republic News Agency yesterday that trade between the two countries during the first six months of 2022 amounted to $233 million. By comparison, trade during all of …

RFL/RE – Iran’s government has approved a set of regulations for trading with cryptocurrencies, a move that potentially allows the country to skirt some U.S. financial sanctions imposed over Tehran’s nuclear program. This news was announced on August 29, just weeks after Iran’s Trade Development Organization approved its first official import order — worth $10 million for the import of …