Economy

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 …

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 …

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 …

Radiofarda – The mechanism set up by European powers to help Iran skirt US sanctions will be of limited use but it has highlighted a welcome distance between Washington and its allies, Tehran’s top diplomat said Monday. The EU said Friday after a crisis meeting aimed at salvaging a landmark 2015 nuclear deal between Tehran and world powers that the …

RFL/RE – Iranian state TV has said it is up to Europe to protect Iran from U.S. sanctions and prevent it from reducing its compliance with the landmark 2015 nuclear agreement signed with world powers. “The ball is in Europe’s court. Are Paris, London, and Berlin going to again waste a chance under the influence of [U.S. President Donald] Trump, …

Al-Monitor – Hoping to ease the pain of mounting US pressure, Iran has been exploring all its diplomatic channels. Most recently, President Hassan Rouhani spent two hectic days networking at international conferences. He attended the Shanghai Cooperation Organization summit, held June 13-14 in Kyrgyzstan’s capital, Bishkek, and the Conference on Interaction and Confidence Building Measures in Asia on June 15 in Tajikistan’s …

Radiofarda – U.S. Special Representative for Iran Brian Hook has said the United States is denying Tehran up to $50 billion in oil revenue exports as a result of sanctions imposed on Iran. Since the imposition of U.S. sanctions on Iran in 2018, daily oil exports have dropped from more than two million barrels a day to around 300,000. Speaking …

lobelog.com – The United States and Iran just avoided a military confrontation that could have degenerated into an open conflict. If allowed to escalate, this conflict would have led to an all-out war with devastating consequence for all involved, especially Iran. But the risk of war by accident or design is still high. Many commentators have rightly criticized the Trump …

Radiofarda – Iran’s tax collection in the first quarter of the current Iranian calendar year (beginning March 21) shows a 28% increase compared with the same period in the previous year, Iran’s Minister of Economy has claimed. Without providing details, Farhad Dezhpasand said on Tuesday, June 25, the government managed to collect 240 trillion rials (approximately $2 billion based on …

Radiofarda – Iranian crude exports have dropped so far in June to 300,000 barrels per day (bpd) or less after the United States tightened the screw on Tehran’s main source of income, industry sources said and tanker data showed, deepening global supply losses. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord …