Tag: Iran Economy

Iran and Russia are going to link their banking networks, Russian ambassador to Iran has announced.

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati highlighted the ineffectiveness of US sanctions against the Islamic Republic and said Washington has failed in its campaign of maximum pressure on Tehran.

Iranian President Hassan Rouhani has sent a single-urgent bill to the Parliament on the removal of four zeros from the country’s national currency, rial, and change the official currency to the more common one toman.

The government of Iranian President Hassan Rouhani approved on Wednesday a plan to lop off four zeros from the country’s national currency in a bid to help the Iranian rial regain its value in the face of the US sanctions.

Iran says Bitcoin and other cryptocurrency miners will be provided with three-phased timers which switch off during peak hours of electricity consumption.

A senior Iranian lawmaker has unveiled plans to free the country’s budget in the coming year from the share of petrodollars.

The Iranian currency rial has, in recent weeks, has recouped some of the losses it endured in the wake of the US sanctions, and is now traded at the highest value since mid-February in a market that Central Bank Governor, Abdolnaser Hemmati, says has stabilised.

Iranian President Hassan Rouhani says the White House lies about Iranian nation’s “regression” and the collapse of the country’s economy under the current sanctions.

A senior member of the Iranian parliament has shared more details of a plan to collect tolls from foreign ships passing through the Strait of Hormuz in the Persian Gulf.

The Governor of the Central Bank of Iran says the Islamic Republic has successfully conquered the peak of resistance and the exports of Iran’s oil is on the rise despite the US bid to bring them down to zero.