Iran's oil exports drop amid China energy shift and Trump comeback
Tanker tracking firms and energy consultants report a steady decline in Iran’s oil exports as top customer China eases buying and a second Trump administration looms.
Iran, Iraqi militias net over $1 billion in fuel oil smuggling
Iran and allied Iraqi militias have earned at least a billion dollars in a scheme to launder fuel oil from the Islamic Republic as originating from its Arab neighbor, Reuters reported, providing a key economic lifeline amid US-led sanctions.
Tuesday, 12/03/2024 Iranian president sounds alarm on depleted foreign reserves
Iran’s president warned on Monday that the state is short of foreign currency and without parliamentary allocation of dollars for imports, gasoline prices would rise amid the country's economic crisis.
Tuesday, 12/03/2024 Iran's rial hits new low after minister acknowledges slide
The Iranian currency hit yet another all-time low of 780,250 rials to the US dollar on Monday after the country’s economy minister acknowledged the significant devaluation of the currency.
Monday, 12/23/2024 Iranians celebrate ancient Winter Solstice amid economic hardships
Millions of Iranian families will celebrate the ancient Winter Solstice festival on Friday evening, though many have scaled back their budgets for the occasion, with businesses reporting a notable drop in sales.
Friday, 12/20/2024 Iran's economy minister summoned over currency slump, MP says
Iran's minister of economy has been summoned to parliament for questioning due to currency fluctuations and their negative impact on the economy and people’s livelihoods, MP Abbas Goudarzi said Thursday.
Thursday, 12/19/2024 Iran's currency was hollowed out by our sanctions, US says
The US State Department said on Wednesday that its ongoing sanctions have played a significant role in the sharp devaluation of the Iranian rial to record lows against the US dollar.
Wednesday, 12/18/2024 Iran rejects reports of declining oil exports
Iran’s oil minister denied reports on Wednesday that oil exports have declined, even as the Iranian currency continued its downward spiral and the country faced acute shortages of natural gas and electricity.
Wednesday, 12/18/2024 Iran shuts down schools and businesses as energy crisis deepens
Officials in Iran have announced widespread closures of schools, universities, and government offices on Tuesday as Tehran struggles to curb energy consumption amid a worsening winter crisis.
Monday, 12/16/2024 As winter looms, Iran faces widespread shutdowns over energy shortages
Iran is grappling with sweeping closures of public facilities, a move officials attribute to lower temperatures and the need for energy management while the country suffers massive shortages.
Sunday, 12/15/2024 Iran's rial hits record low amid growing uncertainty
The Iranian currency hit an all-time low of 753,000 rials to the US dollar on Saturday, marking the sixth record drop since September, when Tehran began losing influence in the region to Israel and other players.
Saturday, 12/14/2024 IRGC races to offload unsold oil in China before Trump takes office
Iran's Islamic Revolutionary Guard Corps (IRGC) is seeking to sell oil stored in China before US president-elect Donald Trump can block sales with tougher sanctions, an informed source told Iran International.
Friday, 12/13/2024 Pollution shuts schools in Iran again as air quality crisis deteriorates
Air pollution has forced the closure of schools and universities in several cities across Iran, signaling that an air quality crisis dogging the country's economy and public health system is worsening.
Wednesday, 12/11/2024 You think it's bad today? Wait till you see tomorrow
Mahmoud looks spent; he’s 45 but looks older. Grey-haired, unshaven, bespectacled — financial anxiety has worn him out. He owns no home, holds no significant assets and dares not think about the future. "Let’s make it to tomorrow is our motto," he says.
Monday, 12/09/2024