Economy of Iran

Turkey is to seize the assets of Turkish-Iranian businessman Reza Zarrab who is a key witness in the trial of a Turkish bank executive in the United States over violations of Iran sanctions, the state-run Anadolu Agency said on Dec. 1

The International Monetary Fund announced on Nov. 30 it has approved a new $88 billion credit line for Mexico, replacing the existing line.

Turkish-Iranian businessman Reza Zarrab on Nov. 28 pleaded guilty of evading U.S. sanctions on Iran, Doğan News Agency has reported citing the prosecutor in the case.

A judge in New York on Nov. 20 postponed jury selection in the trial of an Iranian-Turkish businessman who has been detained on charges of violating sanctions against Iran.

An ongoing court case in the United States about Turkish-Iranian gold trader Reza Zarrab over claims that he violated U.S. sanctions on Iran through Turkish banks and financial institutions is nothing but a political plot against Turkey, a senior government official has said, a week before the key jury trial.

The number of corporate bankruptcies will likely increase 4 percent in 2017 from the previous year, as losses in the value of the Turkish Lira hit companies that hold debts in foreign exchange currencies, a leading credit insurance company stated on Nov. 15.

Turkey has sent a note to U.S. authorities inquiring about the condition of gold trader Reza Zarrab, held in the United States awaiting trial on charges of evading U.S. sanctions on Iran, Turkish Foreign Ministry sources said on Nov. 15.

 Will he or won't he certify the Iran new clear deal? All eyes are on President Trump as he prepares to make a crucial speech later on Friday which could make or break the historic agreement, Euronews reports. 

The deal saw sanctions eased on Tehran in exchange for curbs on its nuclear activity.

A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran's central bank president said on Sept. 16.

The contract was signed in Beijing between China's CITIC investment group and a delegation of Iranian banks led by central bank president Valiollah Seif.

U.S. prosecutors have charged a former Turkish economy minister and a former general manager of a state bank with conspiring to evade U.S. sanctions against Iran, with a Turkish minister defending his predecessor.