Qatar turns to US LNG to cushion Iran war losses
Qatar is securing long-term supplies of US liquefied natural gas to protect revenues against disruptions in the Strait of Hormuz, while pursuing mediation between Tehran and Washington to end the war.
Economy & Environment
Residents describe struggle to afford basic needs as Iran inflation hits 88.7%
People across Iran say they are struggling to afford food, clothing and rent, while others face unpaid wages and falling business sales, according to messages sent to Iran International as year-on-year inflation hit 88.7% in October.
Young Iranians turn from opium to cannabis and meth
Young Iranians are turning from opium, their parents’ drug, to cannabis, methamphetamine and a widening range of synthetic substances, treatment specialists and officials say, as unemployment, hardship and uncertainty about the future reshape the country’s drug use.
Iran's Great Depression? Economists weigh Bessent's dire forecast
Iran could face an economic contraction comparable in scale to the Great Depression in the United States, economists say, as the loss of oil revenue and wartime disruption threaten to drive an ailing economy into a deeper crisis.
Iran’s year-on-year inflation reaches 88.7% in the month to October 22
Iran’s monthly inflation rate stood at 4.4% in the Iranian month of Mehr (September 23–October 22), while prices were 88.7% higher than a year earlier, the Statistical Center of Iran (SCI) said on Wednesday, adding that the 12-month average inflation rate reached 76.8%.
Tehran plans for $130 oil it struggles to sell
Iran’s budget planners are considering oil at $130 per barrel for the next Iranian year even as the conflict driving global prices higher has severely restricted Tehran’s ability to export crude.
Iran, Russia eye joint oil and gas projects amid US blockade
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian discussed joint oil and gas projects in Moscow on Tuesday, as Tehran seeks closer economic ties with Russia while its energy exports remain squeezed by a US naval blockade.
Iran could lose 1.4 million jobs this year, official warns
Iran could lose up to 1.4 million jobs this year if its economy contracts by seven to eight percent, a senior Labor Ministry official said on Tuesday, estimating that around 2.5 million people are already unemployed.
Bessent says Iran economy will contract by more than 25%
US Treasury Secretary Scott Bessent, in an interview with Iran International, warned Iranians to stock up on gasoline and heating fuel ahead of expected shortages, predicting the economy would shrink by more than a quarter in the year ending March 2027.
Two Iran Air retirees died after forgoing treatment over cost
Two retired employees of Iran's national airline died after being forced to abandon medical treatment they could not afford, the semi-official ILNA news agency reported on Monday, citing the head of the airline's retirees' association.
Flour shortages force bakeries to close across Iran
Flour shortages have forced bakeries to close in several Iranian cities and pushed up bread prices, with residents and bakers reporting disrupted supplies, falling purchasing power and growing uncertainty over their businesses.
Iranians vent anger over rising costs of slow, restricted internet
Iranians say they are paying more for slow, unreliable and heavily restricted internet after mobile operators raised data prices by up to 40%, with some reporting that their allowances run out unusually quickly.
Iran’s evasion network survives, but the crude feeding it has run dry
Iran still has the knowhow, middlemen and shadow-fleet infrastructure it spent years developing to sell sanctioned oil to China. But it has now run out of oil outside Iran to put through that system.
Once US blockaded Iran, China’s ‘Malaysian’ oil imports dried up
China's imports of oil recorded as Malaysian have plunged alongside the collapse of Iranian exports under the US naval blockade, suggesting how heavily Iran relied on relabeling its crude for its biggest customer.
Iran’s trade squeeze spreads from sea to land
Border closures and transit disruptions involving Pakistan, Iraq and Turkey are raising fears that Iran’s remaining trade routes could be further restricted, deepening the impact of US maritime and air restrictions.
‘Living in despair’: uncertainty, economic turmoil erode hope in Iran
Repeated economic and political crises are eroding Iranians' belief that their lives can improve, with official figures showing declining social capital, widespread perceptions of injustice and deepening distrust of the government.
US blockade leaves Iran with millions of tons of surplus LPG
Iran's LPG exports have collapsed since the US naval blockade began in mid-July, leaving Tehran to find domestic uses for millions of tons of propane and butane that would normally be sold abroad.
German regulator orders liquidation of Bank Saderat Iran’s Hamburg branch
Germany’s financial regulator BaFin said on Thursday that Bank Saderat Iran’s Hamburg branch had lost its banking license and must be wound up. The branch, which operated in Hamburg and Frankfurt, is no longer allowed to conduct banking business.
Land subsidence threatens villages and farms in southeast Iran
Land in parts of Iran’s southeastern Kerman province is sinking by as much as 40 centimeters a year, with ground fissures advancing toward villages, homes and orchards, according to data cited on Wednesday by the semi-official Mehr news agency.
Iran-Pakistan border trade halt leaves trucks and cargo stranded
Trade between Iran and Pakistan remained suspended at two major border crossings on Tuesday, leaving trucks and cargo stranded, with Pakistani authorities citing security and anti-smuggling measures and Iran pointing to technical difficulties.
Iran Air chief says 30 to 40 operational aircraft destroyed in war
Between 30 and 40 of Iran’s operational aircraft were destroyed during the war, while another 70 to 80 were hit, Iran Air chief executive Taher Abdolhai said on Monday.
Soaring medical costs and staff shortages strain Iran’s hospitals
People in Iran have described deteriorating hospital services, rising treatment costs, shortages of medical staff and equipment, and long waits for care, as healthcare workers struggle with low wages and growing workloads, according to accounts shared with Iran International.