Turkey’s accelerating move to replace Russian and Iranian pipeline gas with domestic production and US liquefied natural gas (LNG) could shrink Tehran’s last major European export market, Reuters reported on Wednesday.
The ruling to confiscate the National Iranian Oil Company’s last European headquarters is yet another sign of the country’s shrinking global footprint and deepening isolation.
Iranian traders, economists and digital market participants are alarmed by new state curbs on stablecoin holdings, telling Iran International the Central Bank’s decision will choke savings and drive capital offshore amid the historic devaluation of rial.
Iran’s parliament speaker Mohammad Bagher Ghalibaf ramped up pressure on the government to issue ration coupons for essential goods, invoking Supreme Leader Ali Khamenei’s warnings about the deterioration of the economy.
Germany’s foreign ministry told Iran International that the European Union’s reimposed sanctions on Iran include financial restrictions but still allow limited personal money transfers.
The Sarab Niloufar spring, one of western Iran’s most iconic natural landmarks, has dried up, local environmental officials said, warning that years of groundwater depletion, unregulated farming and drought have destroyed the 25-meter-deep lake once covered in lotus flowers.
Iranian businessman Babak Zanjani, a tycoon once sentenced to death for corruption before receiving clemency, said that $2.3 billion from a Malaysian bank account tied to him was seized to help pay an international arbitration award against Iran’s National Oil Company (NIOC).
Iran’s economy is set to shrink this year and next as tighter sanctions, falling oil exports, and the aftermath of this year’s conflict weigh heavily on output, the World Bank said on Tuesday, even as it raised its overall growth forecast for the broader Middle East region.
People in Iran face skyrocketing prices for food and everyday goods, according to text and multimedia submissions sent to Iran International, as the return of UN sanctions slams the economy and deepens anxiety.
Iran’s oil minister announced the discovery of a new oil and gas field in the country's south on Monday, saying it could help ease the country’s growing energy shortages wrought by sanctions and aging infrastructure.
Iran has resumed wheat imports from Caspian Sea countries for the first time in three years, with the arrival of an initial shipment at Amirabad port in northern Mazandaran province, the semi-official Tasnim news agency reported on Monday.
Northern Iran’s once-thriving wetlands are facing severe ecological collapse, with environmental officials warning of an imminent disaster after the absence of hundreds of thousands of migratory birds this autumn, Tasnim reported on Monday.
China is secretly funneling billions of dollars to Iran through a covert payment system that bypasses US sanctions by swapping oil for infrastructure projects, The Wall Street Journal reported, saying the hidden conduit enabled Tehran to receive up to $8.4 billion last year.
Iran has added 11 new aircraft to its civilian fleet as part of an ongoing effort to expand domestic air transport capacity, IRGC media reported on Sunday, citing the head of the Civil Aviation Organization.
Nineteen of Iran’s major dams are on the verge of drying up and three have completely run out of water, state media reported, citing data from the Iran Water Resources Management Company.
The deaths of dozens of Caspian seals along Iran’s northern coast have renewed concern over the fragile state of the Caspian Sea ecosystem, state media reported.
Iran’s parliament on Sunday approved a long-debated plan to remove four zeros from the national currency, the rial, in a bid to simplify financial transactions and improve the efficiency of banknotes.
Iran’s upgraded Do-Namay 1 satellite, described as the country’s first hybrid remote-sensing and communications satellite, is ready for launch and expected to be placed in orbit in December, a senior aerospace official said.
With Russia’s UN Security Council presidency and China’s economic leverage, Tehran is betting Moscow and Beijing can shield it from the impact of UN sanctions through legal maneuvers, committee vetoes, and strategic investments.
As Iran’s factions bicker over whether returning UN sanctions are calamitous or mere “psychological” warfare, ordinary people stare into an economic abyss.
At least four people were killed and about 20 injured when a passenger bus plunged into a valley on the Damavand–Firouzkouh road in the Alborz mountains northeast of Tehran, Red Crescent chief Shahin Fathi said on Friday, according to Iranian media.
With Iran's rial hitting fresh depths daily amid new international sanctions, it's helpful to remember how the Islamic Republic's founder viewed the economy. The late theocrat famously said it's for the donkeys.