Iran Economy

Iran’s Trade Turnover Over $72bn in 10 Months

An Iranian senior official says the value of Iran’s imports and exports during the past ten months has been over 72 billion dollars, which shows a rare increase in value.

Iran Says Barriers to Transit Ties with Neighbours Removed

Iran’s minister of roads and urban development says all transit and customs issues between the Islamic Republic and the neighbouring countries have been resolved, and the Iranian fleet can now move to Europe and China.

Iran to Build Houses for Low-Income Families

Iranian Vice President says the government is to build houses for low-income families, including ten thousand residential units for the people of Khorasan Razavi province.

Muslim World Must Get Rid of Dollar Dominance: Rouhani

Iranian President Hassan Rouhani has called on the Muslim world to find ways to get rid of the dominance of the US dollar in the world economy.

Iran’s Share of Iraqi Imports Reaches 25 Percent

One-fourth of the total imports into Iraq come from Iran, an Iranian official has announced.

Economist Explains Reasons for Advocating Fuel Rationing in Iran

One of the most fervent advocates of new regulations on fuel consumption in Iran says a series of public protests in the wake of a recent hike in the price of subsidized gasoline had other social reasons.

Iran Reveals Details of $5 Billion Loan from Russia

Iran’s energy minister says the country has already received a $2.2-billion loan from Russia and the remaining $2.8 billion would be paid to Iran in the next month.

Cash Subsidies Paid to 60m Iranians after Gas Price Hikes

A senior Iranian official says cash subsidies to improve the Iranian people’s livelihoods have been paid to some 60 million citizens in the past few days after gasoline prices were tripled.

Iran Ready for Talks with Anyone If Its Interests Met: Rouhani

Iranian President Hassan Rouhani says Tehran is prepared to sit at “any negotiating table” if the talks are necessary for serving the country’s national interests.

Iran to Open First National Trade Office in Russia

A senior Iranian official says Iran’s first National Trade Office in Russia will be opened by the private sector in two months’ time.

Iran Making Economic Progress despite US Sanctions: Official

Iranian President's Chief of Staff Mahmoud Vaezi says the US economic war has failed to hinder the Islamic Republic’s economic growth.

Iran Prefers Using National Currency in Trade with Neighbours: Minister

Iran’s Minister of Industry, Mine and Trade says the government's policy is to use national currency in business with friendly and neighbouring countries.

Iranian Currency Regains 40% of Lost Value: Top Banker

Governor of Central bank of Iran says the national Iranian currency, rial, has regained its value by 40 percent against the US dollar over the past year.

Iran, Turkey Move to Boost Trade Ties

Iran’s Minister of Economy Farhad Dejpasand says Tehran and Ankara are expected to enhance trade interaction to achieve the target of $30 billion annual trade exchange.

Iran, Russia Connecting Banks

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

Market Stability Shows Trump’s Pressure Campaign Failed: Iran

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.

Lawmakers to Discuss Removing Four Zeros from Iranian Currency

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.

Iran to Remove Four Zeros from National Currency

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 Bans Bitcoin Miners from Using Power during Peak Hours

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

Iranian MP: No Place for Oil in Next Year’s Budget

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

Iran’s National Currency Recovers Some of Its Lost Value

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.

US Lies about Collapse of Iran’s Economy under Sanctions: Rouhani

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.

Iran Weighing Plan to Collect Toll from Ships at Hormuz Strait

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.

Iran’s Oil Exports on Rise Despite US Sanctions: Official

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.

‘Non-Oil Exports from Iran’s Chabahar Port Doubled’

An Iranian official says non-oil exports from the strategic Chabahar port in south-eastern Iran has grown by 100% in the first quarter of the current Iranian year compared to the same period last year.

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