Economy

Reuters -Iran will overcome U.S. sanctions by either bypassing them or through negotiations, and it will not cross its red lines in any talks with arch-adversary Washington, President Hassan Rouhani said on Wednesday. Tensions have soared between Tehran and Washington since last year, when President Donald Trump pulled the United States out of Iran’s 2015 nuclear deal with six powers …

Al-Arabia – The Trump administration on Wednesday hit Iran with new sanctions that target several transportation firms as it continues its “maximum pressure campaign” against the regime over its nuclear and ballistic missile programs. https://vid.alarabiya.net/2019/12/11/uspomsdb1211ce921693/uspomsdb1211ce921693___uspomsdb1211ce921693_video.mp4 Washington targeted three general sales agents of Mahan Air over the role the airline has played in weapons of mass destruction proliferation, US Secretary of …

Radiofarda – President Hassan Rouhani’s administration announced Tuesday that two billion euros ($2.22 billion) will be taken from Iran’s National Development Fund and given to the military, boosting its budget by 8 percent in the next Iranian calendar year. Iran is in the grip of a deep recession with a 9 percent contraction this year and faces serious problems with …

PayvandNews – Iran exported $27 billion of non-oil commodities during the eight-month period from March 21 to November 23, IRIB reported on Tuesday citing the data released by Islamic Republic of Iran Customs Administration (IRICA). The IRICA’s data put the weight of the country’s non-oil exports at 88 million tons during the mentioned time span, which indicates a 16-percent rise …

Al-Monitor – President Hassan Rouhani presented his administration’s proposed budget to parliament on Dec. 8, and while Rouhani’s subsequent speeches after the budget presentation were upbeat, they belie difficult economic times ahead. The administration appropriately named the budget for the following calendar year “Standing and persevering in the face of sanctions.” Rouhani said that this time last year, when the previous budget was presented, …

VOA –  Iran’s president said on Sunday his country will depend less on oil revenue next year, in a new budget that is designed to resist crippling U.S. trade embargoes.Iran is in the grips of an economic crisis. The U.S. re-imposed sanctions that block Iran from selling its crude oil abroad, following President Trump’s decision to withdraw from Tehran’s 2015 …

Radiozamaneh – Iran is facing the most brutal suppression in its recent history which started with lowering of gasoline subsidies, ended up in widespread protests and riots and subsequent crackdown. But what is the economy behind it; what went wrong economically? A driver in the vehicle holding a slogan that says: “hiking gasoline prices three folds in one night is …

Radiofarda – Iran’s currency rial lost more value Wednesday against major currencies reaching a low of 130,100 against the U.S. dollar. One month ago, the rial was trading at around 120,000 to the dollar, but since an increase in gasoline prices and widespread anti-government protests in November, the currency has steadily lost about 8 percent of its value. Each euro …

Radiofarda – Iran has dropped to the bottom of the list of the Organization of Petroleum Exporting Countries’ (OPEC) crude exporters, slightly ahead of Gabon and Equatorial Guinea. Meanwhile, the United States, Saudi Arabia and Russia have retained their position at the top of the global table with producing 14.46, 12.08, and 11.18 barrels of crude per day (bpd), respectively. …

Al-Monitor – In a series of remarks rarely heard from Iran’s political elites, First Vice President Eshaq Jahangiri lamented Washington’s onerous sanctions and how they are tightening the noose around Iran’s economy. “The Americans have in the true sense blocked the key bottlenecks of our country’s economy,” Jahangiri told an exports conference in Tehran Dec. 2. “Even allies fear buying Iranian oil” …