Sanctions snapback augurs deeper pain for Iran's ailing economy
Iran could face fresh shocks to its already deeply rattled currency, costs of living and growth prospects if UN sanctions lifted by a 2015 nuclear deal are reimposed.
Economy & Environment
Iran’s rial falls further as threat of UN sanctions returns
Iran’s currency weakened sharply on Thursday as European nations prepared to trigger the return of United Nations sanctions under the snapback mechanism, deepening economic pressure on the Islamic Republic and adding to uncertainty around its nuclear program.
Iran gearing up for gasoline price hike despite risk of domestic backlash
Iranian authorities are hinting at an imminent gasoline price hike in a risky move after a fuel price rise in 2019 sparked nationwide protests which were quashed with deadly force.
Iran recruits convicted sanctions evasion tycoon back into oil business
An Iranian tycoon convicted of money laundering and embezzlement has returned to the oil business, Iranian news outlets reported, just as looming sanctions may soon force Iran to devise new means to avoid international scrutiny over its economy.
Taliban weaponizing water as Iran officials keep mum, Tehran daily warns
A conservative daily in Tehran has accused the Taliban of deliberately withholding water to pressure Iran, urging the government to use diplomatic, economic and other tools to punish the group.
Hackers disrupt communications of dozens of Iranian oil and cargo ships
A hacker group said it disabled communications on more than 60 Iranian oil tankers and cargo ships, severing links between the vessels, their ports, and the outside world in one of the largest cyberattacks on the country’s maritime sector.
Iran's only navigable river at risk of drought, experts warn
The Karun River, the longest and only navigable river in Iran, is under severe strain from drought, reduced flow, chemical pollution, and wetland degradation, according to experts.
Iran’s currency further plunges amid rising fears of renewed UN sanctions
The Iranian rial slid further on Thursday, with the US dollar trading around 957,000 rials in Tehran’s free market, as markets braced for the possible reinstatement of UN sanctions through the so-called "snapback" mechanism.
Britain sanctions son of Khamenei aide and four Iran-linked companies
Britain imposed sanctions on Hossein Shamkhani, the son of a close aide to Iran’s Supreme Leader Ali Khamenei, and four companies accused of supporting hostile Iranian activity, a government notice showed on Thursday.
Paper reports child hunger crisis in Iran as students faint from lack of breakfast
Many malnourished children in Iran’s rural and nomadic schools set out on long morning walks without breakfast, leaving some to collapse from weakness during school line-ups and unable to learn during long school days, Shargh newspaper reported on Wednesday.
Minister says Iran’s GPS disruptions stem from drone threats
Iran’s communications minister confirmed on Wednesday that widespread disruptions to GPS and internet services were linked to “security considerations” and said raising tariffs for mobile operators had become unavoidable to sustain services.
'Economic suicide': Afghan expulsions spark labor crisis in Iran
Iran’s economy is reeling from an acute labor shortage following the mass deportation of undocumented Afghan migrants, with key industries such as construction and agriculture struggling to function.
Capital, provinces shut down as Iran's power shortage deepens
Iran’s capital and several provinces will see a full-day closure of government offices due to a worsening electricity crisis, officials said Monday.
Global oil glut, price drop spell more trouble for Iran next year
Iran may be heading into even greater financial strain as fresh data points to a worsening outlook for global oil markets, threatening the country’s most vital source of revenue.
Israel’s economy shrank amid war with Iran
Israel’s economy shrank 3.5 percent in the second quarter of the year as the 12-day war with Iran disrupted businesses and investment, the country’s Central Bureau of Statistics said on Sunday.
Iran introduces tax on inflation-driven asset gains
Iran has introduced a new law making inflation partly taxable, a move that critics say effectively charges citizens twice amid the country’s economic crisis.
What’s behind US move to sanction Iran’s fintech sector
The latest round of US sanctions imposed on Iran mark a shift in Washington’s strategy, moving beyond conventional financial limits to target the intertwined financial and digital networks that sustain Tehran’s economy and political control.
Drop in animal feed imports fuel fears over Iran's food security
Iran’s customs data indicates that strategic reserves of animal feed have declined, raising warnings about potential impacts on the country's food security.
Buying property in Tehran could take 80 years of saving, official says
The average time to save for a home in Tehran is about 80 years, even as the capital witnesses a major wave of price decreases, the head of the Tehran Real Estate Consultants Union said.
Two refinery workers in southern Iran die of suspected heatstroke
Two refinery workers in southern Iran died of suspected heatstroke while on the job amid soaring summer temperatures, Iranian media reported.
Iran says water crisis worsening, Tehran land subsidence looms
Iran's ability to access fresh water is deteriorating, the government-run office of managing water supply said on Tuesday, adding that the capital Tehran faces a serious risk of land subsidence.
Tehran split as laundering watchdog offers blacklist exit talks
A rare invitation from the Financial Action Task Force (FATF) for talks on removing Iran from its global money-laundering blacklist has reignited a years-long political battle in Tehran.