Monthly archives: January, 2012

Ghassemi calls for Iran to preempt EU embargo, eliminate oil exports to vulnerable Eurozone countries

As the proverbial noose of increasingly comprehensive American and European Union sanctions begin to tighten around Iran’s neck, Tehran appears to be taking concrete steps toward making good on the threat to preemptively stop crude oil exports to the EU before an European embargo on Iranian oil can come into effect. Mehr News quoted Iranian…



The Islamic Republic’s strategy to tame the wild rial and evade US and EU sanctions

Following our previous post on the Islamic Republic’s deteriorating currency and economic situation, the regime appears to have come to a consensus on taking the first concrete steps toward addressing the issue, according to Mehr News. President Mahmoud Ahmadinejad has agreed to raise Iran’s official interest rate to 21%, above the official inflation rate of…



Iran-Economy-US dollar, gold coins

A Turning Point for the Islamic Republic’s Economy?

At the close of Tehran’s markets on Saturday Iran’s currency, the rial, stood at a historic low. According to the Islamic Republic Student News Agency (ISNA), it traded at 20,000 rial to the US dollar, 24,000 rial to the euro, and 30,000 rial to the British pound. While the currency has experienced a long decline…