German rail operator Deutsche Bahn [DBN.UL] and Deutsche Telekom are ending projects in Iran after Washington imposed new sanctions against Tehran and said firms doing business with Iran would be barred from doing business with the United States.
German carmaker Daimler has shelved business plans in Iran despite the European Union’s best efforts to counter Donald Trump’s decision to reimpose sanctions on Tehran.
Iranian Auto parts manufacturers says 450 thousand workers in this industry are likely to lose their jobs as a result of Iran's foreign currency crisis. At the same time, Iranian media report that rising prices of foodstuff and cost of housing on a daily basis make life harder for most Iranians.
UANI IN THE NEWS
Despite its defiant warnings, Tehran will eventually negotiate with Donald Trump—as long as Vladimir Putin mediates.
NUCLEAR DEAL & NUCLEAR PROGRAM
Iranian Supreme Leader Ayatollah Ali Khamenei has admitted he made a mistake in allowing the country’s foreign minister to speak to his U.S. counterpart during negotiations that led to a 2015 international nuclear agreement.
SANCTIONS, BUSINESS RISKS, & OTHER ECONOMIC NEWS
The imposition of US sanctions is set to wreak a devastating impact on the already battered Iranian economy and blame for the increasing hardship is settling firmly with the Tehran’s “mad” regime, a leading trade expert has warned.
The vice president of Iran reiterated that Iran won't negotiate with the United States, saying the U.S. is trying to make Iran “surrender” by reimposing sanctions on the country, according to the Fars News Agency.
With hotels facing mass cancellations, Iraqis in the holy city of Najaf are being hit hard by US sanctions on neighbouring Iran, which have forced cash-strapped pilgrims to stay home.
Iran’s Oil Minister Bijan Zanganeh will attend the September meeting of the Joint Ministerial Monitoring Committee of OPEC and Russia and will probably press his OPEC partners to preserve original member production quotas, S&P Global Platts reports, quoting an Iranian oil ministry official.
Iran’s Minister of Industry, Mines and Business says, fluctuations in the local forex market in the past four months have tripled the number of applications for import licenses worth $250 billion dollar. Describing the figure as “unbelievable”, Mohammad Shariatmadari has insisted that a “number of” profiteering individuals are trying to “fish in troubled waters”, referring to the current currency and economic crisis.
Sanctions are not a vindictive method of destroying the Iranian people but a tool to bring about a change in the state’s tyrannical policy. Should the Iranian government want relief from sanctions, let it first cease destroying its citizens.
Iran recently announced plans to develop its own national cryptocurrency in order to circumvent U.S. sanctions... Like with the regime in Venezuela, which tried to launch its own cryptocurrency earlier this year, this appears to be a desperate attempt by Tehran to defy Washington while trying to usurp the burgeoning growth of Bitcoin in Iran. Tehran’s cryptocurrency pivot likely is aided by Russia as part of a collaborative attempt to build a new system for global financial transactions to help their respective banks become “sanctions resistant.” Ironically, this authoritarian embrace of blockchain technology conflicts with the ideals of libertarianism and censorship-resistance supported by many cryptocurrency enthusiasts.
PROTESTS & HUMAN RIGHTS
The European Union has expressed serious concerns about the continuing detention of Nasrin Sotoudeh, the prominent Iranian human rights lawyer who is serving a five-year jail sentence. S
A prominent human rights lawyer in Iran, Nasrin Sotoudeh, is facing accusations of espionage on top of charges already leveled against her, Sotoudeh's lawyer says.
Lawyers for Iran's award-winning human rights advocate Nasrin Sotoudeh said Wednesday that her five-year sentence on spying charges was unlawful as she was never charged or given the chance to appear in court.
The Iranian people have a message: We want our country back.
IRANIAN INTERNAL DEVELOPMENTS
A municipal leader in the Iranian capital, Tehran, has issued a stark warning about Iran's economic problems, saying a "tsunami" of poverty is bearing down on society.
With growing public discontent about the deteriorating economic situation in Iran, corruption - once seen as a taboo - has become a source of discussion by the public.
A newly launched social media campaign is pressuring Iranian officials to come clean about potential privileges their children enjoy due to their influence and connections.
RUSSIA, SYRIA, ISRAEL, HEZBOLLAH, LEBANON & IRAN.
In Syria, it's increasingly clear that Iran and Russia aren't getting along the way they did in 2015 when Moscow first intervened to help keep President Bashar al-Assad in power.
Russian President Vladimir Putin may take part in a summit with the leaders of Turkey and Iran at the beginning of September, Kremlin spokesman Dmitry Peskov told reporters on a conference call on Thursday.
A member of Hezbollah's central council warned Wednesday that Lebanon might be headed toward a “national division government” rather than the national unity government that the prime minister-designate has been pursuing, the state-run National News Agency reported.
Hezbollah-affiliated media released footage Sunday night of clashes with IDF troops in 2005 after an infiltration of the northern village of Ghajar.
TURKEY & IRAN
As most everyone knows by now, the Turkish lira is struggling. On Monday, its value dropped to more than 7 lira to the dollar before rebounding slightly. If Turkey’s currency issues continue, there could have far reaching implications for oil markets—particularly when the US sanctions against the Iranian oil industry take effect in November.
Erdogan is not the only autocratic leader to condemn domestic and foreign enemies to deflect blame and attention from his own failings. Iranian Supreme Leader Ayatollah Ali Khamenei and Russian President Vladimir Putin have also blamed Western "plots," fifth columnists, and "foreign agents" for the countries' economic and political plights.
OTHER FOREIGN AFFAIRS
Though the presidents of Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan have long left the Caspian Sea summit, several questions remain about the joint document dividing the sea that they signed in Aqtau on August 12. Though some progress was made and several longstanding issues resolved -- the major undecided problem appears to be how to satisfactorily divide the maritime borders of Azerbaijan and Turkmenistan with Iran.