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Economy & Environment

Australia charges man over alleged $650,000 transfers to sanctioned Iranian banks

Australia charges man over alleged $650,000 transfers to sanctioned Iranian banks

Australian authorities have charged a western Sydney man for allegedly sending about $650,000 to Iranian banks under sanctions, the Australian Federal Police said on Wednesday.

Confidence or caution? Iran's oil fleet stops hiding

Confidence or caution? Iran's oil fleet stops hiding

For the first time in more than seven years, Iranian-flagged oil tankers are broadcasting their location accurately and without spoofing—raising eyebrows among longtime watchers of Tehran’s sanctions-busting efforts.

Iran lawmakers pave way to join UN anti-terror finance convention

Iran’s parliament on Tuesday voted down a bid to stop the government from seeking to join a United Nations convention against terror financing, Tasnim news agency reported.

Government denies new fuel price plan after leak of decree on gasoline reform

Iran’s government denied reports that it plans to raise gasoline prices after the leak of a cabinet decree outlining a new pricing framework, which appeared on the website Khaneh Eghtesad and triggered widespread criticism and concern on social media.

No surviving wetlands remain in Iran’s southern Fars province, report says

No surviving wetlands remain in Iran’s southern Fars province, report says

Almost no living wetlands remain in Iran’s Fars province, a situation that environmental experts say is worsening public health and driving up cancer rates, the Iranian Labor News Agency (ILNA) reported on Saturday.

Iran MP proposes work incentives for marriage, having children

Iran MP proposes work incentives for marriage, having children

An Iranian lawmaker has proposed giving people additional credit in hiring and promotion for marriage and having children, saying family formation should be treated as a form of social contribution.

Oil sanctions squeeze Iranians as buoyant flows to China enrich elite

Oil sanctions squeeze Iranians as buoyant flows to China enrich elite

US sanctions are squeezing Iran’s economy but also enriching Tehran elites and deepening ties to China, Mideast and energy expert Gregory Brew told Iran International’s Eye for Iran podcast.

Iran bets on petroleum products for sanctions-busting profits

Iran bets on petroleum products for sanctions-busting profits

Tehran is shifting its sanctions-busting strategy away from crude oil toward more lucrative and less scrutinized petroleum products to boost revenues even as restrictions tighten.

Over $95 billion in export earnings not returned to Iran, report says

Over $95 billion in export earnings not returned to Iran, report says

More than $95 billion in foreign currency from Iran’s non-oil exports since 2018 has not been repatriated to the country, the Guards-linked Tasnim news agency reported on Friday, citing official trade data.

Iran faces deepening water crisis as key reservoirs hit record lows

Iran faces deepening water crisis as key reservoirs hit record lows

Hydropower generation at the Amir Kabir Dam in Karaj, west of Tehran, has stopped after storage fell to 25 million cubic meters, while lawmakers warned that several provinces could soon face acute drinking water shortages.

Iran MP moves to block joining UN terror-financing convention

Iran MP moves to block joining UN terror-financing convention

A conservative Iranian lawmaker said parliament is reviewing an emergency motion to stop the implementation of Iran’s conditional approval to join a United Nations convention against terror financing, arguing it would expose the country’s sanction-busting networks.

US sanctions alleged network tied to Iran energy exports, US-made chips

US sanctions alleged network tied to Iran energy exports, US-made chips

The United States on Thursday imposed new sanctions on dozens of companies and individuals it accuses of helping Iranian energy exports and facilitating the acquisition of US chip technology by Iran's military and regional allies.

Russian Rosatom delegation meets Iran atomic chief in Tehran

Russian Rosatom delegation meets Iran atomic chief in Tehran

A Russian delegation led by Rosatom Deputy Head Nikolai Spassky met with Iranian Nuclear Chief Mohammad Eslami in Tehran to discuss nuclear cooperation, Iranian state media reported on Wednesday.

Rising prices, medicine shortages hit Iran after sanctions return

Rising prices, medicine shortages hit Iran after sanctions return

Medicine shortages and rising prices in Iran are fueling widespread anxiety according to testimonials received by Iran International, as the reimposition of UN sanctions last month deepens economic pain for ordinary citizens.

Iran faces new dengue outbreak as Aedes mosquito spreads across southern regions

Iran faces new dengue outbreak as Aedes mosquito spreads across southern regions

Iranian health officials have confirmed a renewed outbreak of dengue fever in the southern province of Hormozgan, with more than 1,000 suspected cases and 50 confirmed infections, state media reported on Wednesday.

Iran’s minimum wage fell from $238 to $90 despite yearly rises as rial weakens

Iran’s minimum wage fell from $238 to $90 despite yearly rises as rial weakens

Iran’s minimum wage has increased each year in local-currency terms, but its dollar value has dropped sharply as the rial weakened, leaving workers effectively poorer despite nominal pay rises, labor reports and activists say.

Iran indicts 17 foreign crew members over seized tanker fuel case

Iran indicts 17 foreign crew members over seized tanker fuel case

Iran’s judiciary has indicted 17 foreign nationals accused of smuggling fuel after their tanker was seized in the Gulf of Oman in July, the head of Hormozgan province’s justice department said on Wednesday.

Salt storms drive migration as Iran’s Lake Urmia turns to dust

Salt storms drive migration as Iran’s Lake Urmia turns to dust

Expanding salt storms from the dried basin of Lake Urmia in northwestern Iran have forced residents to abandon nearby villages, damaged farmland and raised fears of long-term health risks, Iran’s Labor News Agency reported on Wednesday.

Turkey gas shift threatens Iran’s last major European market

Turkey gas shift threatens Iran’s last major European market

Turkey’s accelerating move to replace Russian and Iranian pipeline gas with domestic production and US liquefied natural gas (LNG) could shrink Tehran’s last major European export market, Reuters reported on Wednesday.

Seized in London: how Iran lost its last oil outpost in the West

Seized in London: how Iran lost its last oil outpost in the West

The ruling to confiscate the National Iranian Oil Company’s last European headquarters is yet another sign of the country’s shrinking global footprint and deepening isolation.

Iranians warn state-imposed crypto caps will backfire as rial collapses

Iranians warn state-imposed crypto caps will backfire as rial collapses

Iranian traders, economists and digital market participants are alarmed by new state curbs on stablecoin holdings, telling Iran International the Central Bank’s decision will choke savings and drive capital offshore amid the historic devaluation of rial.

As poverty bites, Tehran elites bicker but ignore root causes

As poverty bites, Tehran elites bicker but ignore root causes

Iran’s parliament speaker Mohammad Bagher Ghalibaf ramped up pressure on the government to issue ration coupons for essential goods, invoking Supreme Leader Ali Khamenei’s warnings about the deterioration of the economy.