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Economy & Environment

Tehran plans for $130 oil it struggles to sell

Tehran plans for $130 oil it struggles to sell

Iran’s budget planners are considering oil at $130 per barrel for the next Iranian year even as the conflict driving global prices higher has severely restricted Tehran’s ability to export crude.

Iran, Russia eye joint oil and gas projects amid US blockade

Iran, Russia eye joint oil and gas projects amid US blockade

Russian President Vladimir Putin and Iranian President Masoud Pezeshkian discussed joint oil and gas projects in Moscow on Tuesday, as Tehran seeks closer economic ties with Russia while its energy exports remain squeezed by a US naval blockade.

Iran could lose 1.4 million jobs this year, official warns

Iran could lose up to 1.4 million jobs this year if its economy contracts by seven to eight percent, a senior Labor Ministry official said on Tuesday, estimating that around 2.5 million people are already unemployed.

Bessent says Iran economy will contract by more than 25%

US Treasury Secretary Scott Bessent, in an interview with Iran International, warned Iranians to stock up on gasoline and heating fuel ahead of expected shortages, predicting the economy would shrink by more than a quarter in the year ending March 2027.

Two Iran Air retirees died after forgoing treatment over cost

Two Iran Air retirees died after forgoing treatment over cost

Two retired employees of Iran's national airline died after being forced to abandon medical treatment they could not afford, the semi-official ILNA news agency reported on Monday, citing the head of the airline's retirees' association.

Flour shortages force bakeries to close across Iran

Flour shortages force bakeries to close across Iran

Flour shortages have forced bakeries to close in several Iranian cities and pushed up bread prices, with residents and bakers reporting disrupted supplies, falling purchasing power and growing uncertainty over their businesses.

Iranians vent anger over rising costs of slow, restricted internet

Iranians vent anger over rising costs of slow, restricted internet

Iranians say they are paying more for slow, unreliable and heavily restricted internet after mobile operators raised data prices by up to 40%, with some reporting that their allowances run out unusually quickly.

Iran’s evasion network survives, but the crude feeding it has run dry

Iran’s evasion network survives, but the crude feeding it has run dry

Iran still has the knowhow, middlemen and shadow-fleet infrastructure it spent years developing to sell sanctioned oil to China. But it has now run out of oil outside Iran to put through that system.

Once US blockaded Iran, China’s ‘Malaysian’ oil imports dried up

Once US blockaded Iran, China’s ‘Malaysian’ oil imports dried up

China's imports of oil recorded as Malaysian have plunged alongside the collapse of Iranian exports under the US naval blockade, suggesting how heavily Iran relied on relabeling its crude for its biggest customer.

Iran’s trade squeeze spreads from sea to land

Iran’s trade squeeze spreads from sea to land

Border closures and transit disruptions involving Pakistan, Iraq and Turkey are raising fears that Iran’s remaining trade routes could be further restricted, deepening the impact of US maritime and air restrictions.

‘Living in despair’: uncertainty, economic turmoil erode hope in Iran

‘Living in despair’: uncertainty, economic turmoil erode hope in Iran

Repeated economic and political crises are eroding Iranians' belief that their lives can improve, with official figures showing declining social capital, widespread perceptions of injustice and deepening distrust of the government.

US blockade leaves Iran with millions of tons of surplus LPG

US blockade leaves Iran with millions of tons of surplus LPG

Iran's LPG exports have collapsed since the US naval blockade began in mid-July, leaving Tehran to find domestic uses for millions of tons of propane and butane that would normally be sold abroad.

German regulator orders liquidation of Bank Saderat Iran’s Hamburg branch

German regulator orders liquidation of Bank Saderat Iran’s Hamburg branch

Germany’s financial regulator BaFin said on Thursday that Bank Saderat Iran’s Hamburg branch had lost its banking license and must be wound up. The branch, which operated in Hamburg and Frankfurt, is no longer allowed to conduct banking business.

Land subsidence threatens villages and farms in southeast Iran

Land subsidence threatens villages and farms in southeast Iran

Land in parts of Iran’s southeastern Kerman province is sinking by as much as 40 centimeters a year, with ground fissures advancing toward villages, homes and orchards, according to data cited on Wednesday by the semi-official Mehr news agency.

Iran-Pakistan border trade halt leaves trucks and cargo stranded

Iran-Pakistan border trade halt leaves trucks and cargo stranded

Trade between Iran and Pakistan remained suspended at two major border crossings on Tuesday, leaving trucks and cargo stranded, with Pakistani authorities citing security and anti-smuggling measures and Iran pointing to technical difficulties.

Iran Air chief says 30 to 40 operational aircraft destroyed in war

Iran Air chief says 30 to 40 operational aircraft destroyed in war

Between 30 and 40 of Iran’s operational aircraft were destroyed during the war, while another 70 to 80 were hit, Iran Air chief executive Taher Abdolhai said on Monday.

Soaring medical costs and staff shortages strain Iran’s hospitals

Soaring medical costs and staff shortages strain Iran’s hospitals

People in Iran have described deteriorating hospital services, rising treatment costs, shortages of medical staff and equipment, and long waits for care, as healthcare workers struggle with low wages and growing workloads, according to accounts shared with Iran International.

Retirees protest across Iran over economic hardship, repression

Retirees protest across Iran over economic hardship, repression

Retirees staged protests in several Iranian cities on Sunday over soaring living costs, inadequate pensions and healthcare problems, with some demonstrators also chanting against government corruption, repression and executions.

Iran risks losing ground as East-West trade routes expand

Iran risks losing ground as East-West trade routes expand

Investment in trade routes linking Asia and Europe through Central Asia and the Caucasus is putting pressure on Iran’s ambitions to become a major transit hub, with neighboring countries developing transport and digital networks that bypass Iranian territory.

Tehran’s diplomatic paralysis leaves Iran caught between deal and escalation

Tehran’s diplomatic paralysis leaves Iran caught between deal and escalation

A growing number of former Iranian officials and political figures are calling for an agreement with the United States, while hardliners and military commanders continue to push for confrontation, exposing a deeper struggle over the direction of Tehran’s foreign policy.

Iran speaker says government overstepped on anti-terror finance rules

Iran speaker says government overstepped on anti-terror finance rules

Iranian Parliament Speaker Mohammad Bagher Ghalibaf says part of the government’s anti-terror financing regulations violates Iranian law, adding that decisions on who is designated as terrorist must remain with the Supreme National Security Council.

Iran touts economic resilience while households struggle to afford basics

Iran touts economic resilience while households struggle to afford basics

Iran’s central bank governor has dismissed claims of economic collapse, while domestic media reports describe wages failing to cover basic living costs and families struggling to afford medicines, housing and car repairs.