News : Economy

by Jazeh Miller

Ever since Donald Trump pulled the US out of the 2015 Iran nuclear deal, otherwise known as the Joint Comprehensive Plan of Action (JCPOA), the US has been warning its allies and even some neutral countries about the importance of ending their reliance on Iranian oil before the November deadline when US sanctions will snap back into place.

By INU Staff

INU - Most wars in the Middle East are either directly or indirectly about oil. Now, we are in the midst of a major oil war, whereby the US (and some of its allies) have already pledged to stop importing oil from Iran by November and Iran has threatened any state that stops importing Iranian oil.

By INU Staff

INU - The Iranian regime is in a desperate situation and it is taking desperate measures. At the end of last year, nationwide protests took place and they are still continuing to this day.

“How am I supposed to make my empty food basket even smaller to save for my million-toman drug costs?”

By INU Staff

INU - Most contemporary regimes depend on the capitalist system of economy, specifically the free market economy. A robust economy is the lifeblood of a country. A failing economy negatively affects the entire country. Therefore, a country’s main concern should be keeping its economy healthy. However, in Iran, the primary concern of its Islamist politics appears to be the spread of its ideology, irrespective of the high cost to its citizens.

By INU Staff

INU - Iranian state media announced on Wednesday that it would start tethering its currency exchanges to the euro instead of the dollar, in line with a plan that had first been floated years earlier as part of an effort to limit reliance on American currency. However, Reuters noted that it was not immediately clear whether the plan would be met with participation from a majority of relevant parties. Despite contrary government pressure, ordinary Iranians continue to use the US dollar for trade and savings, and various Iranian businesses continue to rely on it for international transactions.