Economy

Radiofarda – The situation of COVID-19 pandemic in Iran appears to be deteriorating with 115 deaths and 2,563 new cases during the past day, amid concerns about the start of a new wave of infections and rumors about the possible resignation of Health Minister Saeed Namaki. Health Ministry Spokeswoman Sima Lari says this has been the third consecutive day with …

Radiofarda – Like its Latin American ally, Venezuela, Iran appears to be rebranding its crude oil destined for China in Malaysia to circumvent U.S. sanctions. Data provided to Radio Farda by oil tanker tracking and intelligence firm Kpler indicates that Iran has suddenly increased oil exports to Malaysia since January. At the same time, official figures show a huge drop …

Radiofarda – Latest liquidity figures released June 15 by the Central Bank of Iran show the volume of money in circulation in the country grew by 31 percent from March 2019 to March 2020. This is an unprecedented growth in the money supply of a country gripped by high inflation and a falling currency, which has lost most of its …

Radiofarda – Iran’s vice president Es’haq Jahangiri says that as a result of a “plot by the United States, Israel and Saudi Arabia” his country’s oil revenues dropped from $100 billion a year to nine billion in 2019. Jahangiri did not specify when Iran’s annual oil exports amounted to $100 billion, but according to OPEC data in 2011 and 2012 …

Radiofarda – Iran says it may take legal action to free billions of dollars of its oil money frozen in South Korea’s banks due to U.S. sanctions. In one of the latest developments in the saga to get some of its frozen assets released, Iran’s President Hassan Rouhani has ordered Central Bank Governor Abdolnasser Hemmati to take “firm measures” including …

Al-Arabia – Iran’s oil revenues fell from $100 billion to $8 billion last year, first Vice President Eshaq Jahangiri said on Saturday, accusing the US, Saudi Arabia and Israel of plotting against Tehran. “We were a country with $100 billion in oil revenue in a single year, but the total oil revenue in 2019 was about $8 billion,” state media …

Radiofarda – A member of Iran’s parliament says five ships carrying phosphate and potash fertilizers “urgently needed” by farmers are waiting in the Persian Gulf to receive payment in hard currency before delivering their cargo. The official website of parliament cited a lawmaker, Javad Askari, as saying on Friday, June 12, “the farmers will not be able to increase their …

Radiofarda – statement on Thursday the exiled Queen Farah Pahlavi sent her condolences to the families of two Iranians who committed suicide due to poverty this week. “With great regret, I was informed that fellow citizen Jahangir Azadi-Miyankouhi, a veteran of the eight-year war with Iraq [1980-1988], put an end to his life by self-immolation in front of the Martyrs …

Radiofarda – Iran’s Central Bank Governor has said that Iran reserves the right to launch legal action against South Korea if the country’s banks refuse to unlock billions of dollars owed to Iran for oil exports, frozen in Korean banks for nearly two years. According to a Bloomberg report on Wednesday, Abdolnaser Hemmati has said that the actions of South Korean …

Radiofarda – Speaking online to the Heritage Foundation on Tuesday, the U.S. Special Representative for Iran Brian Hook United States will continue working to re-instate the arms embargo on Iran and that the sanctions have produced “excellent results” so far. The sanctions have deprived the Iranian regime of billions of dollars, he said and reiterated that Iran is at the …