Economy

Radiofarda – In a message to commemorate the fortieth anniversary of his father’s death Iran’s exiled Prince Reza Pahlavi has referred to the tears his father shed before leaving the country. FILE – In this Jan. 16, 1979 file picture, Shah Mohammad Reza Pahlavi and Empress Farah walk on the tarmac at Mehrabad Airport in Tehran to board a plane …

Radiofarda – Iran’s former Queen Farah Pahlavi in a statement, issued on the 40th anniversary of her husband’s death, says Iran has turned into a “poor, needy and hungry” country after forty years of “misconduct, mismanagement and corruption” by the Islamic Republic. The last king of Iran, Mohammad Reza Shah Pahlavi died in 1980 after being overthrown by revolutionaries in …

RFL/RE – A provocative street protest in southwestern Iran last week that was critical of the Islamic establishment has many predicting more demonstrations are coming amid the country’s faltering economy and anger over the handling of the coronavirus pandemic.People in the city of Behbahan chanted anti-government slogans including “Mullah’s regime, we don’t want it!” before the July 16 protest was …

Al-Monitor – The currency exchange market in Iran is experiencing another volatility cycle with the Iranian rial (IRR), losing its value repetitively against foreign currency. The volatility cycles have become a frequent event in Iran’s economy, and no one finds them surprising. However, the government’s response to the increased ambiguity and volatility cycles remains the same. The Iranian authorities and policymakers …

Radiofarda – President Hassan Rouhani’s Chief of Staff announced July 21 the “release of blocked Iranian financial assets” in some countries and maintained that these resources would be used for international payments. The official government news website, IRNA, cited Mahmoud Vaezi as saying, “The released assets will be used for addressing the concerns and problems of importers.” In other words, …

Radiofarda – Iranian Foreign Minister Mohammad Javad Zarif says extending Tehran-Moscow 20-year cooperation agreement is on the Islamic Republic’s agenda. Zarif who is visiting Moscow also announced that in addition to renewing the current agreement Tehran has an offer for another “long term accord” with Moscow if the Russian government voices readiness. So far there has been no specific response …

gatestoneinstitute.org – For almost four decades, Iran’s regime has been squandering the nation’s resources on terror and militia groups… It is estimated that the regime has spent more than $100 billion on its nuclear program. Many employees of the government, including coal workers and railroad workers, have been protesting unpaid wages and salaries. One protester told Iran News Wire, “I …

Radiofarda – Iran’s national currency gained 10 percent of its value back on Monday after several deep plunges in the past few days following the injection of $300 million into the market for businesses seeking imports. The rial hit an all-time low of 260,000 against the U.S. dollar on Sunday with an almost 10,000 rial drop in one day at …

Radiofarda – Iran’s Oil Minister on Monday told reporters that all foreign countries are now refusing to sign agreements with Iran in all areas due to the U.S. sanctions and are even discontinuing existing contracts. Bijan Namdar-Zanganeh said a previously negotiated agreement with India to develop the offshore Farzad gas field shared with Saudi Arabia in the Persian Gulf, has …

Radiofarda – The devaluation of Iran’s currency has dramatically accelerated in recent days with the rial hitting an all-time low of 260,000 against the U.S. dollar on Sunday, an almost 10,000 rial drop in one day. With the country’s oil exports chocked off by U.S. sanctions, the government has lost its main source of foreign currency income since May 2019, …