Economy

Radiofarda – The United States said on Tuesday that European powers are unlikely to live up to a pledge to prevent their conduit for trade with Iran being used to launder money or finance terrorism, raising the prospect of further U.S. sanctions. France, Britain and Germany have set up the special purpose vehicle called Instex, a conduit for barter-based trade …

RFL/RE – The United States has pledged to cut Iran’s oil exports to “zero,” denying Tehran a key source of revenue through tough sanctions and the threat of stiff penalties to potential buyers.But economists say that while the U.S. measures will hit Iranian oil sales, which account for 70 percent of the country’s revenues, they will not completely halt them.Iran …

PayvandNews – Iran’s currency reached its lowest level against the U.S. dollar in the past seven months, according to reports from Iran on Tuesday, May 7. Foreign exchange websites reporting virtually live on actual free market rates, say that the Iranian rial reached a low of 154,000 against the greenback. “Exporting Democracy with Aircraft Carrier”(source: Iranian daily Hamdeli)Related Article: Bolton’s War with …

Radiofarda – In a closed-door session on Monday, May 6, the majority of lawmakers in Iran’s parliament opposed raising fuel prices, putting the cash-strapped Rouhani government in in a tight spot. “Majles has decided to oppose raising gasoline prices,” just for the sake of preventing fuel smuggling Speaker Ali Larijani announced, adding, “Majority of the MPs believe that the only …

Radiofarda – Thirty-one years after the disastrous Iran-Iraq war (1980-88), vouchers and coupons to procure essential goods might be on their way back for the people of Iran. Without elaborating on the details, the Islamic Republic Vice President Es’haq Jahangiri said on Saturday, May 4, “Some goods might be rationed and distributed through vouchers or coupons.” Under new U.S. sanctions …

rferl.org – Iran has mobilized all its resources to sell oil on the “gray market,” bypassing U.S. sanctions that Tehran considers illegitimate, Iran’s Deputy Oil Minister Amir Hossein Zamaninia said on May 5. His comments come days after Washington announced that it has decided not to reissue waivers in May allowing importers to buy Iranian oil without facing U.S. sanctions. …

rferl.org – Turkey says it will not be able to diversify oil imports quickly after the United States ended sanction waivers on purchases from Iran, and Ankara continues to urge Washington to reconsider its decision. “It does not seem possible for us to diversify the sources of the oil we import in a short time,” Turkish Foreign Minister Mevlut Cavusoglu …

rferl.org – The United States says it has extended five sanction waivers that will allow Russian, China, and European countries to continue to work with Iran’s civilian nuclear program. At the same time, the State Department said on May 3 that it was ending two waivers related to Iranian exports of enriched uranium in what it called “the toughest sanctions …

rferl.org – An Iranian newspaper says one of its reporters was arrested by police earlier this week while covering a May Day protest, during which dozens of activists were detained. The pro-reform Shargh newspaper said on May 4 that Marzieh Amiri was detained at a demonstration outside the Iranian parliament in Tehran. The paper said authorities detained some 30 protesting …

rferl.org – Parliamentary speaker Ali Larijani says Iran will continue to enrich uranium in accordance with its nuclear accord with several world powers regardless of moves by the United States to put a stop to it. “Under the [nuclear accord] Iran can produce heavy water and this is not in violation of the agreement. Therefore, we will carry on with …