NAM capable of neutralizing US sanctions: Rouhani

Iranian President Hassan Rouhani has censured the United States for dominating the international monetary system and misusing dollar, saying the Non-Aligned Movement (NAM) is capable of countering Washington's illegitimate actions and making its sanctions ineffective.

By Haniyeh Sadat Jafariyeh

May Iranian economy resuscitate from doldrums

TEHRAN – Inflation rate (the increase in consumer prices besides those of the producer), as one the main economic indices, has skyrocketed during the past recent year, i.e. as of the US withdrawal from the JCPOA, May 8, 2018. 

Central Banks are ditching the dollar for gold

First-quarter gold purchases by central banks, led by Russia and China, were the highest in six years as countries diversify their assets away from the U.S. dollar.

Addiction treatment in Iran hampered by U.S. sanctions

TEHRAN – A recent statement by the director of Prevention and Treatment Development at the State Welfare Organization of Iran shows that despite Washington claims that sanctions are targeted at the Islamic Republic, it is ordinary Iranians in need that are to face the fallout.

By Salman Parviz

India, Iran to maintain trade level amid sanctions

U.S. unilateral sanctions bring economic challenges for both nations

TEHRAN -- Re-imposition of sanctions by U.S. President Donald Trump’s administration against Iran sent the national currency rial on a roller coaster ride against the U.S. dollar, spiraling inflation and soaring cost of living for the general public in Iran. From the record highs of 190,000 rials against the dollar in late September, the greenback exchange rate has now recovered, hovering around 10,000 rials in the open market. 

‘Iran ditches dollar in transactions with several countries’

TEHRAN- Iran has made mutual monetary agreements with some countries on the way to abolish U.S. dollar in its financial transactions and the issue will be incrementally generalized to other countries in future,” the governor of the Central Bank of Iran (CBI) announced in a meeting with Iranian economists on Monday, IRNA reported.

Russia wants to ditch U.S. dollar in trade with European partners

The Russian Ministry of Finance said on Monday it may shift to the use of local currencies with European trade partners. The move will be part of the so-called de-dollarization of the Russian economy.