News : Economy

By INU Staff

INU- Despite the shocking headlines that alerted the world to the popular uprising in the Islamic Republic that has been ongoing since last December, Iranians have been experiencing economic hardship for the four decades that followed the 1979 revolution. Once a county with a huge reserve of petrodollars, Iran’s economy began to deteriorate, and its people began to experience economic hardship, political oppression, and overall mismanagement.

By INU Staff

INU- On Friday, at their plenary meeting, the Paris-based Financial Action Task Force (FATF) gave Iran until February to complete the necessary reforms to bring it into line with global norms or face consequences.

By INU Staff

INU- An unusual rise in the exchange rate for US dollars and other hard currencies in Iran, has sparked rumours that the Iranian Regime has actually devalued its own currency – the rial – in order to pay its own expenses, like public sector salaries.

By INU Staff

INU- The latest Iranian truckers’ strike has spread to 290 cities in 31 provinces across the country- with Tabriz, Kerman, Bandar Abbas, Arak, Kazerun, Qazvin, Sari, Ahvaz, and Abhar the latest to join - with striking workers calling for the same demands they made in July and August, during the last strike.

By INU Staff

INU- Iranian officials are putting intense pressure on the state-run media to keep quiet about Iran’s economic crisis, including the implications of the fall in the value of the rial.

By Edward Carney

In a report published on Thursday about the Chinese oil company CEFC, the New York Times reported that in addition to engaging in illegal activities related to the energy trade, a top executive for the company also undertook other illicit projects, including a conspiracy to have CEFC act as an intermediary in sanctions-busting transactions between Iran and foreign businesses.