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Iran’s currency strengthened modestly on Tuesday, recovering from historic lows as anticipation grew over high-level indirect talks with the United States scheduled to take place this weekend in Oman.
The rial, which hit a record low of 1,050,000 per US dollar last month, bounced back to about 960,000 rials on Tuesday amid growing anticipation of renewed diplomacy between Tehran and Washington.
Iran’s Revolutionary Guard naval forces have seized an oil tanker in the Persian Gulf over allegations of fuel smuggling, Iranian state media reported on Tuesday.
Fars News Agency said the vessel was intercepted by the Islamic Revolutionary Guard Corps (IRGC) Navy and that six individuals were arrested. It did not specify the nationality of the tanker or those detained. Fars added that 100,000 liters of smuggled fuel were discovered during the inspection of the tanker.
The reported seizure follows an operation last month in which the IRGC detained two foreign tankers allegedly carrying over three million liters of smuggled diesel fuel. Those vessels, intercepted by the IRGC’s Second Naval District, were said to be systematically involved in fuel trafficking and were being moved to the port of Bushehr under judicial orders.
The IRGC regularly announces such actions, saying they are part of efforts to combat fuel smuggling in the Persian Gulf, a vital maritime route through which a significant share of global oil shipments passes.
Iran has previously seized tankers over alleged maritime violations or as retaliatory measures.
In April 2023, the Iranian Navy detained the Advantage Sweet, a Marshall Islands-flagged tanker, in the Gulf of Oman, citing a collision with an Iranian vessel.
In January, Iran seized the St. Nikolas, also Marshall Islands-flagged, in response to a US confiscation of Iranian oil the previous year.
Tensions between Iran and the United States have flared in recent years over a series of maritime incidents in the region, often involving oil shipments and sanctions enforcement.
Iran’s currency strengthened modestly on Tuesday, recovering from historic lows as anticipation grew over high-level indirect talks with the United States scheduled to take place this weekend in Oman.
The rial, which hit a record low of 1,050,000 per US dollar last month, bounced back to about 960,000 rials on Tuesday amid growing anticipation of renewed diplomacy between Tehran and Washington.
Iranian government spokesperson Fatemeh Mohajerani confirmed on Tuesday that the talks will be held indirectly, mediated by Oman’s Foreign Minister Badr bin Hamad Al Busaidi. “In the negotiation, what is important for the people and the national interests will be our focus,” she said.
The Iranian delegation will be led by Foreign Minister Abbas Araghchi, while the US side will be represented by Donald Trump’s Mideast envoy, Steve Witkoff, according to Iranian and US media reports.
While US President Donald Trump has said the talks will be direct and at a senior level, Iranian state-affiliated media said otherwise.
Nournews, a site close to Iran’s Supreme National Security Council, described Trump’s comments as part of a “psychological operation” meant to shift blame and shape public perception.
The rial’s gains follow a period of sharp decline, triggered by the absence of negotiations, ongoing US sanctions and Trump's 'maximum pressure' policy on Iran, and escalating regional tensions fueled by Iran's allies.
Inflation in food and other essentials has soared, with local producers citing rising packaging and transport costs as major drivers. Over one third of Iranians now live below the poverty line in the midst of the worst economic crisis since the founding of the Islamic Republic in 1979.
Iran’s currency has halved in value since President Masoud Pezeshkian took office in August.
Policies pursued by US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu are pushing Iran towards developing nuclear weapons, according to Mohammadreza Sabbaghian, a member of the Iranian parliament.
Sabbaghian also warned Iranian diplomats to not be deceived by what he described as Trump's "Carrot and stick" approach, and that Trumps ear is to the mouth of the Israeli prime minister.
"Diplomats, decision-makers, remember: in foreign relations, a wise person isn't fooled twice by the same trick. Mr. Pezeshkian,don't be swayed by Trump's empty promises or intimidated by his threats; he's clearly listening to Netanyahu and the Zionists. The solution to our economic problems lies within our own country."
He added that, “Diplomats, understand this: the United States objects to our defense and missile capabilities... It opposes our nuclear technology and enrichment... Recognize that America's fundamental issue is with our system's independence and our unyielding leadership. Why fail to grasp this? Don't be fooled."
Iran accounted for 64% of all known global executions in 2024, with at least 972 people executed, according to Amnesty International, in what the rights group says is the government's ongoing campaign of mass suppression of dissent.
The latest figures show an increase of 119 executions from the previous year, when 853 executions were recorded.
Globally, the total number of recorded executions reached 1,518 in 2024, the highest figure since 2015, according to Amnesty International’s annual report on the global use of the death penalty released on Tuesday.
Iran, Iraq, and Saudi Arabia were responsible for an overwhelming 91% of the known global executions, a sharp rise from the previous year's 89%.
“Those who dare challenge authorities have faced the most cruel of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out,” said Agnès Callamard, Amnesty International’s Secretary General.
Amnesty said that the vast majority of the executions in Iran last year were linked to political repression, including those involved in the Woman Life Freedom protests sparked by the death in custody of 22 year old Mahsa Amini over alleged hijab law violations.
“In 2024, Iran persisted in their use of the death penalty to punish individuals who had challenged the Islamic Republic establishment during the Woman Life Freedom uprising.
"Last year saw two of those people – including a youth with a mental disability – executed in connection with the uprising following unfair trials and torture-tainted ‘confessions’, proving how far the authorities are willing to go to tighten their grip on power,” Callamard added.
According to Amnesty's report, in 2024, Iran executed 30 women, four individuals for crimes committed when they were under 18, and four people in public.
Over 40% of global executions in 2024 were for drug crimes, a practice Amnesty has criticized as unlawful and ineffective, as international human rights law restricts the death penalty to the “most serious crimes.”
“Drug-related executions were prevalent in China, Iran, Saudi Arabia, Singapore and, while no confirmation was possible, likely Viet Nam. In many contexts, sentencing people to death for drug-related offences has been found to disproportionately impact those from disadvantaged backgrounds, while it has no proven effect in reducing drug trafficking,” said Callamard.
Amnesty said that the figures reported in its annual report do not include the thousands of executions believed to have occurred in China, which it named the world’s leading executioner, nor those in North Korea and Vietnam, where the death penalty is also extensively used.
