Thursday , 27 January 2022

Economy

Iran’s trade with Turkey sees major leap despite sanctions

PayvandNews – While the U.S. unilateral sanctions against Iran have created some limitations for trade with the Western partners which led the Islamic Republic to expand economic and trade ties with its neighbors and boost non-oil exports to them, trade with the northwestern neighbor, Turkey, is growing significantly. Iran and Turkey Presidents Hassan Rouhani (R) & Recep Tayyip ErdoganTehran, Iran, …

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Hook: Iran oil sanctions alone deny the regime $50 billion in revenue annually

Al-Arabia – The US special representative for Iran, Brian Hook, told Al Arabiya that imposed oil sanctions on Iran alone will deny the regime 50 billion dollars in revenue annually, adding that the pressure is going to continue. “The oil sanctions alone are going to deny the Iranian regime 50 billion dollars in revenue annually. We’ve also sanctioned the petrol …

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Iran’s ‘Misery Index’ Up As Production And Oil Exports Crash

Radiofarda – In its latest report the Statistical Center of Iran (SCI) says that the “misery index” in the country reached 39% last winter, whereas a year earlier it stood at 19.4%. Misery index is an informal measure of the state of an economy generated by adding together its rate of inflation and its rate of unemployment. Based on the …

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US Sanctions Hit Iran’s Trade With South Korea

Radiofarda – The Iranian chairman of the joint chamber of commerce of Iran and South Korea says U.S. sanctions against Iran have adversely affected commercial relations with Korea. Hossein Tanhai told Fars news agency that talks with two major Korean home appliance manufacturers have remained futile as the Korean companies are not willing to do business with Iran fearing this …

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Billions Of Dollars Of Subsidized Gasoline Being Smuggled Out Of Iran

Radiofarda – A top anti-smuggling official in Iran has said that around 11 million liters or close to 3 million gallons of gasoline is smuggled out of the country on daily basis, according to Fars news agency This is more than 10% of the daily fuel sold to drivers in the country. Iran offers the cheapest fuel for vehicles in …

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Tehran to tackle currency woes with new forex

Al-Monitor – Extreme foreign exchange-market fluctuations are highly likely to continue to menace Iran’s national currency, the rial, and the Iranian economy. A new integrated foreign exchange market is in the works to meet this challenge. NIMA, the state-run secondary foreign exchange market launched just over a year ago, hasn’t brought about the intended results for the Iranian economy due to the Central …

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Tanker Tracking Firm Says Iran Shipping Oil To China

Radiofarda – Iranian Minister of Oil, Bijan Namdar Zanganeh, says Tehran is striving day and night to sell its crude oil, despite U.S. sanctions. In a Bloomberg Television interview in Vienna, on Tuesday, July 2, Namdar Zanganeh reiterated that the Islamic Republic is working “day and night” to find ways to export its crude. President Donald Trump’s administration has repeatedly …

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Price Of Potatoes Doubles In Iran As High Inflation Hurts Ordinary People

Radiofarda – As high inflation ravages Iran’s economy, the price for potatoes has doubled to 90,000 rials per kilo, or around 70 U.S. cents, in recent weeks. Industry representatives in Iran attribute the rapid rise of vegetable and fruit prices to exports, as the depreciated Iranian currency gives an incentive to merchants to export rather than sell the produce in …

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Iraq To Establish Special Financial Mechanism For Trade With Iran

Radiofarda – Iraq is planning to introduce a new financial mechanism that will enable it to continue gas and electricity imports from Iran, Iraqi sources said on July 2. The mechanism is said to be similar to Europe’s INSTEX, a system that would help Iran purchase food and medicine, the two items not covered by U.S. sanctions on Tehran. A …

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