12162017Sat

Iran official: West launched 'currency war'

AP: The director of the ministry's economy department, who was unnamed in the Monday report from the semiofficial Fars agency, says that expanding domestic production can help counter Western sanctions imposed on Iran over its nuclear program.

The Associated Press

TEHRAN, Iran (AP) — Iran's Intelligence Ministry says the West has launched a "currency war" against Tehran to destabilize the Islamic Republic.

The director of the ministry's economy department, who was unnamed in the Monday report from the semiofficial Fars agency, says that expanding domestic production can help counter Western sanctions imposed on Iran over its nuclear program.

Sanctions include an oil embargo and banking restrictions that make it difficult for Iran's Asian customers to pay. Iran's national currency lost nearly 40 percent of its value in 2012 alone. It now fluctuates between 30,000 rials to 34,000 rials in the open market, compared to 10,000 rials as recently as early 2011.

The U.S. and its allies fear Iran is trying to develop a nuclear weapon, a charge Tehran denies.

Search

Iran: UN Special Rapporteur Speaks on Dismal Human Rights Situation in Iran

Iran: Thousands of People Held Protest Rally in Front of Iran's Parliament

Iran: Widespread Protests of Thousands of the People, Plundered by the State Affiliated Financial

Tehran: Widespread Protests of Thousands of the People, Plundered by the State Affiliated Financial

Clashes Erupts in Western City Over killing of Porters by Iran’s Security Forces

Vienna: Iranians Rally in Support of Comprehensive Sanctions against Tehran

Iran: Guidance Patrol harasses women in public places

Iran 22 August 2017: Hundreds of retirees protest outside regime's parliament

Iran, Khuzestan Province: People Clashed With Security Forces

People Chanting Against Iran Regime During the Football Match

Iran: Murder Scene of a Poor Street Peddler by Municipality Agents

Suicide increasing in northern Iran due to crackdown and poverty

Two prisoners were hanged in Sarpol-e Zahab (western Iran)

Iran: Execution of four young men in public in Qeshm- 23 November

The untold story of the 1988 Massacre in Iran

Reyhaneh Jabbari's will Her voice recording from inside prison

Public execution in Kazerun, Iran - August 11, 2016