Economy

Radiofarda – Iran says the era of oil for goods will officially start within a week, per the Minister of Oil and the Governor of the Central Bank of Iran (CBI), who announced the government’s plan to exchange oil for goods and expressed hope that Iran’s foreign trade would increase. In a joint meeting with the Ministers of Industry, Mines …

Radiofarda – The chairman of the Iranian Home Appliances Trade Union, Akbar Pazouki, says that the decrease in Iranian citizens’ purchasing power has caused a 50% drop in household device sales compared with last year. Pazouki told Mehr News Agency on Sunday that home appliance sales have fallen, and the market is “almost stagnant” due to rampant rising prices and …

Radiofarda – Iran’s financial status will face a challenging stretch leading up to the U.S. elections on November 3, says the Governor of Central Bank of Iran (CBI), Abdol Nasser Hemmati. “In the next three weeks, the pressure on Iran is to increase. We have informed Iranians that the risk in the domestic foreign exchange market is very high and …

Radiofarda – Referring to Washington’s new, additional sanctions on Tehran, the spokesman for Iran’s Foreign Ministry, Saeed Khatibzadeh, said on Monday that “these decisions and sanctions have caused serious monetary and financial damages to Iran.” At his weekly press conference on Monday, Khatibzadeh announced, “We have been working for months to stop such shocks.” However, he warned that “the United …

Iran-HRM – Poverty and hunger in Iran lead to tragic suicides by young and old Rampant spread of poverty in Iran is creating tragic consequences in society. Children as young as 10 commit suicide for being deprived of their basic needs. Poverty and hunger drive parents to commit mass suicide along with their children to escape the pain of living …

Al-Monitor – An 11-year-old Iranian schoolboy, Mohammad Mousavizadeh, has committed suicide by hanging from the kitchen of his family’s rented, humble house in the southern city of Dayyer, Bushehr province, leaving the Iranian society in yet another state of disbelief.  The horrifying details were released by Mohammad’s mother, Fatemeh, who earns a living for her three other kids — one of them …

Al-Monitor – Iranian Supreme Leader Ayatollah Ali Khamenei said today the country would never retreat in the face of new sanctions.  During a video speech delivered to a military university, Khamenei addressed the new US sanctions and the maximum pressure strategy, saying, “We will not ignore the role of the malicious Americans and their sanctions on the economy, which are certainly criminal.” …

Radiofarda – The Iranian rial fell to a new low against the U.S. dollar on Saturday as the economy reels under pressure from the COVID-19 pandemic and U.S. sanctions. The dollar was selling for as much as 304,300 rials on the unofficial market, up from 295,940 on Friday, according to the foreign exchange site Bonbast.com. The economic daily Donya-e-Eqtesad’s website …

VOA – The U.S. government imposed new sanctions on 18 Iranian banks as Washington turned up the pressure on Tehran by further isolating it from the global banking system and hindering the country’s attempts to build nuclear weapons. The steps, which were announced by the Treasury Department in a news release, hit 18 banks that have so far avoided previous U.S. …

Radiofarda – Ten percent of Iran’s population is elderly, with the Gilan province home to the country’s oldest citizens, the head of Iran’s Elderly Health Department of the Ministry of Health disclosed on Tuesday. “Thirteen percent of the population in Gilan, bordering the Caspian Sea, north of Iran, is over sixty years old,” Mohsen Shati told the state-run Iran Labor …