UANI

AFP quoted economists, experts, and Iranian press reports saying that Ahmadinejad will no longer be able to fulfill his campaign promise of "putting oil money on people's tables." "'Iran's oil party is over,' 'OPEC approaching bankruptcy' and 'Alarm tolls for Iran's economy as OPEC oil price drops,' are some of the gloomy headlines in the local press.... 'The government could have been restrained in spending its petrodollars and avoided this rampant inflation by using the money for investment, not to encourage consumption,' Laylaz said." Read More

AFP quoted Iranian Labour Minister Mohammad Jahromi's announcement that Iran's unemployment rate is now over 10%. "More than one in 10 people in Iran's workforce are now without jobs, Labour Minister Mohammad Jahromi said in comments published on Thursday. 'Unemployment has gone from 9.6 percent in the spring to 10.2 percent in the summer,' Jahromi said in the Sarmayeh economic newspaper." Read More

BBC wrote that Ahmadinejad and Iran could soon face an '"economic perfect storm." "As the effect of those lower oil prices works through, Iran will face a growing budget deficit. The International Monetary Fund said in August that Iran would face unsustainable deficits should prices for its oil fall below $75 a barrel.  Mr Ahmadinejad will have the choice of cutting spending or printing more money. But with inflation already over 25% and unemployment around 10%, neither is an attractive option." Read More

McClatchy reported that "The Bush administration will announce in mid-November, after the presidential election, that it intends to establish the first U.S. diplomatic presence in Iran since the 1979-81 hostage crisis, according to senior Bush administration officials." "The proposal for an 'interests section,' which falls short of a full U.S. Embassy, has been conveyed in private diplomatic messages to Iran, and a search is under way to choose the American diplomat who would head the post, the officials said." Read More

AP quoted Ayatollah Akbar Hashemi Rafsanjani's statement that falling oil prices are a "big damage" to Iran. "Ayatollah Akbar Hashemi Rafsanjani says the worsening global economy is not divine punishment on the West and warns Iranians against expressing 'happiness' over the contagion. Rafsanjani spoke during a Friday prayers ceremony in Tehran. His remarks counter those of another cleric, Ayatollah Ahmad Jannati, who said earlier this month that the meltdown was a 'punishment from God' and that Iranians are 'happy the U.S. economy is in crisis.'" Read More

Bloomberg reported that "The U.S. government imposed sanctions on Russian, Chinese and Venezuelan companies for supplying what it said were materials used in making weapons of mass destruction to Iran, North Korea and Syria." Read More

The Economist analyzed the long-term negative effect that falling oil prices will likely have on Iran, Russia, and Venezuela's economies. "In sum, Iran, Russia and Venezuela are all likely to be left short of cash - and facing a diminution in their international clout. 'Never confuse brilliance with a bull market,' goes a Wall Street saying. The leaders of the oily trio may have thought high oil prices were an adequate substitute for good governance. In many quarters, the difference is now painfully clear." Read More  

Fox News reported that "An Iranian Foreign Ministry official says his government should target one of the United States' closest allies to ensure that President Bush does not attack Iran during his final weeks in office." "The Middle East Media Research Institute (MEMRI) reports Wahid Karimi was quoted as saying, 'The last two months of Bush's presidency... will be the worst days of his presidency for Iran and during them he can exploit his power to carry out political adventurism and an ill-conceived operation. If so, how can we restrain him?' He adds, 'The most appropriate means of deterrence that Iran has, in addition to a retaliatory operation in the [Gulf] region, is to take action against London.'" Read More

AP reported that the Export Development Bank of Iran "is dismissing financial sanctions imposed this week by the Bush administration." "IRNA's report on Thursday carried a statement from the Export Development Bank of Iran, which says the sanctions have no legal base." Read More

Iranian press quoted Bahrain's King defending Iran's nuclear activities. "Bahrain's king says Iran has the right to use nuclear technology for peaceful purposes, rejecting claims that Tehran seeks nuclear arms." Read More

AP reported that "Iran on Thursday called on OPEC to slash oil production by a daily 2 million barrels to stop a steep slide in prices that has left crude at its cheapest since last summer." Read More

AP reported the Bush administration's new sanctions on Iran's Revolutionary Guard Corps. "The Bush administration is imposing new sanctions on Iran's Revolutionary Guard Corps, accusing the elite military unit of illegal trade in missile technology and weapons of mass destruction.... The sanctions, which are valid for two years, bar any U.S. aid, contracts and arms sales or other defense transfers to any of the identified entities." Read More

AFP reported that "A European court on Thursday annulled an EU decision to freeze the assets of the main Iranian opposition in exile." Read More

Iranian press highlighted Larijani's call for Iran to expand its relations with its neighbors. "Majlis Speaker Ali Larijani has stated that expanding ties with regional countries is a 'long-term strategy' of the Islamic Republic of Iran." Read More

The Los Angeles Times covered the recent imprisonment of Iranian American scholar Esha Momeni. "The Los Angeles-born Momeni, a graduate student at California State University-Northridge, is reportedly being held in the infamous Section 209 of Tehran's Evin Prison, though officials have not announced any charges. Amnesty and others worries that she's being subjected to physical torture." Read More

AP quoted Sec. Rice dismissing Iran's opposition to the proposed U.S.-Iraqi security pact "'I think the Iraqis can defend their interests without the Iranians thank you very much - that hasn't been the happiest relationship, ever,' Rice said during a brief diplomatic visit to Mexico.'" Read More