At the same time, the budget says the government sees taxes rising by a massive 62 percent next year, as authorities try to gradually decrease dependence on oil revenues amid US efforts to drive down Iranian exports, which are carried by a shadow fleet of ships mostly to China.

Iran is facing a severe economic and social crisis in late 2025, marked by accelerating executions, near-zero GDP growth, 43.3 percent inflation, and a wave of popular protests fueled by sanctions and conflict escalation.

Traders offered the new exchange rate as attempts so far to restart negotiations between America and Iran over its nuclear program appear stalled.

If there's one part of foreign policy where President Donald Trump has been consistent, it's economic sanctions on Iran. During his first presidency, Trump imposed what the State Department called a "super-maximum economic pressure campaign." Throughout ...

Iran’s currency depreciated to record lows against the dollar this week as multiple challenges including oil sanctions, regional tensions and spiraling inflation plague the economy.

Nigeria and the Islamic Republic of Iran have renewed their commitment to deepening cooperation in trade, investment, energy, and multilateral engagement following a high-level diplomatic meeting in Abuja.

WASHINGTON (Reuters) -The U.S. is reviewing all existing sanctions waivers that provide Iran any degree of economic relief, and urging the Iraqi government to eliminate its dependence on Iranian sources of energy as soon as possible, the U.S. State ...

Israel‘s preemptive strikes against arch-enemy Iran, and a tacit green light by the United States to continue, have capped years of aggressive international economic sanctions. Combined with diplomacy, with recent diplomatic efforts to head off Iran’s ...

Nigeria and the Islamic Republic of Iran have reaffirmed their commitment to deepening bilateral relations, with a renewed focus on trade, investment, energy

Iranian official Ali Asghar Tahmasebi reportedly emphasized the importance of developing Central Asia via "economic diplomacy."