Iran Economy

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’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.

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.

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.

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

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

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.

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’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 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.

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.

Iranian lawmakers have approved a bill to temporarily run a free trade zone between Iran and Eurasian Economic Union.

A senior Iranian agriculture official says one of the reasons behind a sudden rise in the prices of agricultural produce in Iran is Turkish businessmen who come to Iran to buy products wholesale.

Iran’s first vice president says the country’s reliance on oil revenues has reduced significantly due to the hard efforts made over the recent years.

The unveiling of a new system during the recent International Exchange, Bank and Insurance Fair (IRAN FINEX) in Tehran has aroused speculations that Iran might be planning to legalize Bitcoin as a legal currency in a bid to survive the new round of US bans.

The Brazilian ambassador to Iran says the US’ anti-Iran sanctions are cowardly and, if necessary, Tehran can count on Brazil in this regard.