Economy

Radiofarda – Criticizing proposed plans to increase Iran’s population, the representative of Mahabad to the Majlis Iranian parliament, Jalal Mahmoudzadeh, says that young Iranians have no choice other than leaving the country in the absence of jobs. “Still, some people are after increasing the population,” Mahmoudzadeh said. Speaking at Majlis’s public session on Monday, Mahmoudzadeh opposed a parliamentary motion for …

Radiofarda – Reza Zarrab, the Turkey-based ringleader of Iran’s sanctions-evasion network who laundered over $20 billion in the biggest sanctions-evasion scheme in recent history, continues to make headlines.A series of deeply researched exposés published in September by a global network of investigative journalists showthat Tehran’s Turkish operations “started earlier, lasted longer, extended further, and involved more people and countries” than previously known. Zarrab, …

gatestoneinstitute.org – Iran’s currency, the rial, lost more than half its value so far just in 2020. Iran’s regime is currently running a $200 million budget deficit per week and it is estimated that if the pressure on Tehran continues, the deficit will hit roughly $10 billion by March 2021. This deficit will, in return, increase inflation and devalue the …

Al-Arabia – Iran’s troubled currency rose to a six-week high against the US dollar on Saturday, helped by central bank cash injections and hopes of reduced US sanctions after a possible presidential election victory by Joe Biden.The dollar was selling for about 268,000 rials on the unofficial market, down from 281,000 on Friday, according to foreign exchange site Bonbast.com. The …

Radiofarda – The Deputy Head of the Islamic Republic of Iran Customs Administration, Mehrdad Jamal Arvanqi, says 200,000 tons of rice stored at Iranian customs and ports is currently rotting for lack of hard currencies. Arvanqi announced on Thursday that this amount of rice had been stored in the country’s customs and ports for months. “By not paying foreign currency …

Radiofarda – Iranian President Hassan Rouhani said on Wednesday that the U.S. sanctions imposed on the nation were taking their “last breaths.” “When $50 billions of Iranian oil sales are not in the country [frozen abroad], it is obvious that the people suffer,” Rouhani told a cabinet meeting, adding that Iran is in a “state of war” and “there are …

VOA – The U.S. Treasury and State departments on Thursday announced sanctions on 11 entities in Iran, China and Singapore for buying and selling Iranian petrochemicals.  In addition, the Justice Department announced two forfeiture complaints against Iran for the recent seizures of Iranian weapons bound for Yemen and refined petroleum bound for Venezuela.  “The two forfeiture complaints allege sophisticated schemes …

Radiofarda – Iranian government spokesman Ali Rabiei said on Tuesday that a recent fall in the Tehran Stock Exchange index had clear economic reasons, and that that the government had no role in the decline. Denying that the government’s disagreement over the appointment of the head of the Securities & Exchange Organization was the reason for the fall of the …

Radiofarda – The head of the Iran-South Korea Chamber of Commerce, Hossein Tanhaei, has said that Iran’s blocked money in South Korea amounts to “$8.5 billion” and the release of the money “depends on the outcome of the U.S. presidential election.” Speaking to the state-run Iran Labor News Agency, ILNA, Tanhaei claimed that negotiations between Tehran and Seoul to release …

Al-Monitor – Iran’s central bank governor, Abdolnaser Hemmati, recently paid a surprise visit to Baghdad, three days after the United States slapped sanctions on 18 Iranian banks. Iran sees in Iraq an economic lifeline and the only solution to circumvent the US sanctions ordeal, through formal and informal means. A source at the Iraqi Central Bank who was present at an Oct. 12 meeting between Hemmati …