Economy of Iran

Iranian President Ebrahim Raisi yesterday set the tackling of galloping inflation and currency devaluation as priorities for the 2023-2024 budget presented to parliament.

The pledge came as the rial touched a new low.

Germany's foreign minister is calling for European Union entry bans and asset freezes against those responsible for what she described as brutal repression against anti-government protesters in Iran.

Hungary responded by saying the European Parliament “would do better to focus on energy prices that have tripled and quadrupled due to the failed sanctions

The Treasury Department also announced sanctions against three companies & one individual involved in drones used by the Islamic Revolutionary Guard Corps

The U.S. Treasury Department has announced that it is levying sanctions against four Iranian companies that it says were involved in sending drones to Russia last month for use in Moscow's war against Ukraine.

Tehran-based Safiran Airport Services, Paravar Pars Company, Design and Manufacturing of Aircraft Engines, and Baharestan Kish Company were all hit with the new sanctions.

Russia said on Sept. 5 that it blacklisted 25 U.S. citizens including Hollywood actors Ben Stiller and Sean Penn, in response to sanctions from the United States.

Western capitals, including Washington, have slapped Russia with a slew of unprecedented sanctions its over its offensive in pro-Western Ukraine.

Private sector's total outstanding loans received from abroad declined by $7.6 billion from end-2021 to $161.4 billion as of June, the Central Bank has said.

“It has been seized as part of EU sanctions”, a Greek shipping ministry official said

The United States imposed sanctions on Turkey’s defense industry following its purchase of the Russian S-400s

Before they were ousted by the 1979 Islamic revolution, Iran's royal family enjoyed a lavish lifestyle with a taste for fast cars quite unlike any ever built.

Now, after half a century hidden away, the royal racers are back on show, with the Iran Historical Car Museum drawing in thousands since it opened to the public in recent weeks.