Tuesday , 7 December 2021

Economy

Presidential Study: Use State-Backed ‘Trust Companies’ Overseas to Get Around Oil Sanctions

Iranwire – The Islamic Republic of Iran is experiencing wide-ranging, crippling international sanctions at a time when a significant portion of its budget still depends on oil revenues. The Center for Strategic Studies, which falls under the Office of the President of Iran, has published a report on potential methods to circumvent sanctions so as to keep selling oil. Iran holds about …

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Iranians worry that their new government is inept

economist – It was fitting that Ebrahim Raisi, Iran’s new president, spent the first working day of his government visiting a cemetery, since he had helped orchestrate the mass execution of political prisoners in the 1980s. The setting also fitted the country’s glum mood. Since Mr Raisi’s victory in a rigged election on June 18th, cases of covid-19 in Iran have …

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Stagflation in Iran’s Manufacturing Sector Hits Record Heights

Iranwire- The Statistical Center of Iran has reported an increase in Iran’s production inflation rate of 60 percent in the spring of 2021: a new record hike in costs in a single quarter. Year-on-year, it found, the country’s production cost index has rocketed by 73 percent. Invariably, this will have an effect on already eye-watering consumer prices. The intensity of inflation varied in different …

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US sanctions four Iranians over plot to kidnap New York activist

Al-Monitor – The United States on Friday sanctioned four Iranian intelligence operatives who federal prosecutors say plotted to abduct a New York-based activist and journalist.  The US Treasury Department announced the designation of senior Iranian intelligence official Alireza Shahvaroghi Farahani, as well as three other Iranian operatives, Mahmoud Khazein, Kiya Sadeghi and Omid Noori. The Iranian agents, who remain at large, …

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Iranian Currency Market Ignores Raisi’s Claim of a Coming Reprieve

Iranwire – On August 25, on a day in Iran when the price of the US dollar broke the dreaded 28,000-toman ceiling, both President Ebrahim Raisi and his new First Vice President Mohammad Mokhber described an “opening” – by which they meant a positive development – in the currency situation. “There has been a serious opening in currency prices and you will …

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Record-Breaking Inflation Confronts Raisi’s New Presidency

Iranwire – President Ebrahim Raisi starts his presidency this month as Iran’s inflation rate has exceeded 45 percent – a record over the past year according to the Statistics Center. If the Central Bank had published its own data, perhaps the figure would have been even higher; but Iran’s Central Bank stopped publishing inflation reports almost three years ago, and the Statistics …

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Iran President Says His Proposed Cabinet Will Focus On Coronavirus, Economy

RFL/RE – Recently elected Iranian President Ebrahim Raisi has said his government will place a priority on fighting COVID-19. “The government’s first priority is controlling the coronavirus, improving the health situation, and widespread vaccination,” Raisi said on August 21 as parliament began debating the conservative leader’s male-only cabinet choices. “The economy and the livelihood situation is the second” priority, he …

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The Iranian Government’s Debt Problem Can Only Get Worse Under Raisi

Iranwire – Recently there’s been a lot of discussion about budget reform in Iran: it’s in the news, debated in parliament, and a preoccupation for Ebrahim Raisi’s cabinet. The problem is quite simple. Iran’s budget revenue and its expenditure are out of synch. For example, for the 2021-2022 budget, oil revenues were calculated on the basis of the export of two and a half million barrels of oil …

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Can Iran Withstand the New Dollar Price Hike?

Iranwire – On Tuesday, August 17, a single US dollar was trading for around 26,900 tomans on Tehran’s open market. This was the third day in a row the dollar was inching towards 27,000 tomans apiece. But it has yet to quite cross that threshold. A small group of foreign currency investors in Iran might be happy, under the illusion …

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Iran’s imminent accession to the Shanghai Cooperation Organisation

NOURNEWS – Ali Shamkhani, Secretary of the Supreme National Security Council, announced today his conversation with Secretary of the Security Council of the Russian Federation, Nikolai Patrushev and tweeted: “Fortunately, political obstacles to Iran’s membership in the Shanghai Agreement have been removed and Iran’s membership will be finalized through technical formalities.” On the other hand; the annual meeting of the SCO …

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