Iran is struggling with a sharp decline in oil exports to China and seeks to offload reserves stored in Chinese ports ahead of Donald Trump's return to Washington.
Several analysts, officials and media outlets in Iran are warning that multiple crises have gripped the country in recent months and those in charge should deal with this reality.
While the US dollar reached a new high against Iran’s currency on Wednesday, an economist warned that without an agreement with Washington soon, inflation could climb above 40% before the Iranian New Year in March.
The son of a key figure in Iran's ruling establishment is at the heart of a sanctions-busting secret trade with Russia, in which Iran provides Moscow with weapons in exchange for oil, a report by Bloomberg said.
Despite a 20% surge in oil exports, Iran's GDP growth in the first half of the current Iranian calendar year starting March 21 significantly declined due to a recession in other sectors, such as agriculture, industries, and the service sector.
Iran is due to ease fuel price subsidies, according to documents reviewed by Iran International, in a politically sensitive move likely approved by the country's top leadership which is due to deepen economic pain.
Dutch supermarket chain Spar has been accused of helping Iran evade international sanctions, according to a report by Dutch newspaper de Volkskrant.
On Friday, The Times revealed that police in London and the Charity Commission are investigating Dar Alhekma Trust (DAT), a charity with alleged links to Iran.
The United States imposed sanctions against entities linked to Iran and its allies the Houthis in Yemen on Thursday just weeks before the inauguration of President-elect Donald Trump is due to herald even harsher pressure on Tehran.
The US State Department said on Wednesday that its ongoing sanctions have played a significant role in the sharp devaluation of the Iranian rial to record lows against the US dollar.
Iran’s oil minister denied reports on Wednesday that oil exports have declined, even as the Iranian currency continued its downward spiral and the country faced acute shortages of natural gas and electricity.
The US Justice Department on Monday charged two Iranians with conspiring to export sensitive US technology to Iran’s Revolutionary Guards, including navigation systems used in military drones that killed three US service members.
Iran’s nuclear chief said on Tuesday that the country’s nuclear technology will not be restricted, despite demands from the United States and European powers to halt high-level uranium enrichment.