Iran's Foreign Minister Presents Report To Hardline Cleric

This service enables both personal and corporate banking, as reported by the bank's press service to RIA Novosti.

The transfers are conducted in Russian rubles and are directed to Pasargad Bank in Iran. The standard commission for these international transfers is set at 1% of the transfer amount.

According to Sberbank, the launch of this transfer service in September is aimed at catering to tourists, although it can be used by both individuals and businesses. The bank acknowledges that the demand for this service is yet to be fully assessed.

The move comes as the war in Ukraine has fostered closer cooperation between Russia and Iran in various sectors, including military, economic, and political realms.

In May, it was reported that two Iranian banks had established representative offices in Russia, as announced by the Central Bank of Iran (CBI). This development followed the opening of a representative office in Tehran by Russia's second-largest bank, VTB Bank. Iran's Mir Business Bank, owned by Bank Melli Iran, has been operating in Russia since 2002, contributing to financial ties between the two nations.

Following the Russian invasion of Ukraine, VTB found itself among the Russian banks subjected to comprehensive sanctions imposed by both the United States and the European Union, resulting in their prohibition from conducting operations within European nations.

As a consequence, the bank was compelled to shutter its European and African branches, leaving it with operational branches solely in Azerbaijan, Armenia, Kazakhstan, and Vietnam.

Ali Beitollahi, the head of the Seismology Center at the Housing and Urban Development Research Center, has revealed that in the event of an earthquake measuring seven on the Richter scale, approximately 60 percent of buildings in Iran could be destroyed.

Beitollahi explained that the Tehran-Karaj region, a densely populated area, faces a significantly higher risk. An earthquake with a magnitude of seven in the region alone could potentially result in the destruction of more than two million residential units, placing six million people in immediate danger.

The warning follows recent concerns expressed by Mehdi Pirhadi, a member of the Tehran Council, who emphasized the urgent need for building renovations in the capital to enhance earthquake resilience.

However, it is essential to recognize that the seismic risk is not limited to Tehran. Active fault lines stretch from Hamedan in the west to Gilan in the north, posing an imminent threat of a potentially catastrophic earthquake.

Iran, located at the convergence of the Arabian, Indian, and Eurasian tectonic plates, is renowned for its high seismic activity, making it one of the most earthquake-prone countries globally. The nation has witnessed several massive earthquakes in recent history, resulting in significant loss of life and substantial economic damage.

Director Wray made the remarks during a presentation addressing prominent foreign and domestic threats to the United States at the International Spy Museum in Washington DC, on Thursday.

As reported by AP, Director Wray referenced a significant Iranian plot that unfolded in 2021, involving a foiled attempt to assassinate former National Security Adviser John Bolton. The motive behind this plot was purportedly retaliation for the US drone strike that had targeted Iranian commander Qasem Soleimani.

Additionally, Wray highlighted a cyber-attack on Boston's Children's Hospital orchestrated by Tehran in 2022 and Iran's covert influence campaign during the 2020 US presidential election.

He emphasized, "That's all on top of constantly trying to evade international sanctions and being the world's leading state sponsor of terrorism. So if that's not enough to convince people that this is a serious threat, I don't know what is."

On the domestic front, Wray underscored the FBI's elevation of racially-motivated violent extremism to a national threat priority in 2019, aligning it with the threat level posed by ISIS. More recently, the FBI has intensified its focus on anti-government and anti-authority violent extremism, spanning from militia groups to anarchist violent extremists.

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An Iranian transport aircraft recently departed from the closed Simferopol airport in Crimea, raising questions about the nature of Iranian involvement in the Russian invasion of Ukraine.

The aircraft, the IL-76TD owned by Pouya Air, took off from Simferopol at 17:09 local time, having arrived in Crimea just two hours prior. Simferopol airport has been closed for civilian air travel since the commencement of the full-scale Russian invasion of Ukraine. The development was reported by Flightradar24, a prominent air travel tracking service. 

Pouya Airlines has dismissed reports about the flight in the Crimean Peninsula to assist Russian forces as "pure fabrication." The airline stated that the aircraft had been parked at Mehrabad Airport for the past 48 hours.

Ukrainian military sources have previously alleged that Russian forces stationed in Crimea have been utilizing the Chauda training ground to launch Iranian-made Shahed-136/131 drones into Ukrainian territory. However, there is no confirmed information regarding the presence of Iranian personnel assisting Russian military operations during these drone launches.

It is noteworthy that Russia began employing Iranian-produced Shahed drones for attacks deep within Ukrainian territory the previous year. These so-called kamikaze unmanned drones possess the capability to operate without the need for a conventional runway, detonating upon impact.

Iran has publicly acknowledged sending drones to Russia but has maintained that these deliveries occurred prior to Russia's invasion of Ukraine in February 2022. Moscow, on the other hand, has consistently denied employing Iranian drones in Ukrainian conflicts. Nonetheless, Ukraine has repeatedly reported the consistent bombardment from Iranian drones in Russian hands.

According to a report by Iran’s Labor News Agency, when considering minimum living standards, the cost of living has surged to 194 million rials, equivalent to approximately $400 per month. However, when factoring in housing expenses, particularly in Tehran, the cost of living exceeds a daunting 230 million rials, approximately $460 monthly.

Major industrial cities such as Mashhad, Esfahan, and Tabriz also witness high costs of living ranging from 200 to 220 million rials per month.

Currently the minimum wage in Iran is about $150 a month and the average income of people is between $150 to $250. Key workers remain at the bottom of the pay scale. Iran's Teachers' Association recently said that a third of the country's educators earn less than $200 a month, meaning many are fleeing for work abroad.

One of the primary contributors to Iran's economic turmoil is the drastic depreciation of its currency, the rial. Just over a year ago, the rial was trading at approximately 300,000 to the US dollar. However, in early May, it plummeted to as low as 550,000 rials to the dollar, and currently hovers around 490,000 rials to the dollar. This catastrophic devaluation of the rial directly reflects the nation's inflationary crisis.

Iran heavily relies on imports for essentials like food, animal feed, medicines, raw materials, and finished goods. As the local currency continues to lose value, the cost of imports escalates, ultimately leading to higher prices for consumers. This, in turn, places an additional burden on Iranian households already grappling with soaring living costs.