By Pooya Stone

It has been reported in Iran that the National Iranian Oil Company’s (NIOC) owed almost $50 billion at the end of the Iranian year (21st March 2019).

Over the years, Iran has brought in nearly $2 trillion in oil revenues. But years and years of mismanagement, neglect and corruption have destroyed the country’s oil infrastructure.

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By Jubin Katiraie

The US Treasury’s Office of Foreign Assets Control has placed Iran’s petrochemicals industry on its anti-terrorism sanctions list, which deals a heavy blow to the Iranian economy and further diminishes Iran’s revenues.

The US has previously imposed sanctions on a number of Iranian petrochemical companies, but this is the first time that the industry as a whole, which is Iran's largest source of non-petroleum revenues, has been targeted.

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By Jubin Katiraie

The World Bank is now predicting that Iran will experience a worse recession in 2019 than was previously thought, as US sanctions tighten around the oil exports that are the main revenue source for the Middle Eastern country.

In the Washington-based institution’s latest Global Economic Prospects report, published on Wednesday, it revealed that it expects Iran’s Gross Domestic Product to fall by 4.5% this year, compared with its previous estimate of a minus 3.6% GDP growth.

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By Jubin Katiraie

According to Bloomberg, the Treasury Department’s undersecretary for terrorism and financial intelligence, Sigal Mandelker, sent a letter on May 7 warning that Instex, the European SPV to sustain trade with Tehran, and anyone associated with it could be barred from the U.S. financial system if it goes into effect.

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#Iran - April 10 - Bojnurd, North Khorasan Province, Northeast

April 10 - Shadegan, Khuzestan Province, SW #Iran

#IranFloods- Kut Abdullah, Ahvaz, Khuzestan Province, SW #Iran

Seems to be Lorestan Province, western #Iran Horrifying footage of a road literally collapsing

#IranFloods-April 4, Poledokhtar,Lorestan province W #Iran

Iran: Ahvaz Steel Workers on Strike for 5th Day

Iran Sugarcane Workers Protest Unpaid Wages on 10th Day of Strike

Iran. November, 2018. Eleventh Day of Truckers’ Nationwide Strike

Iran. July 24, 2018. New Round of Truck Drivers’ Nationwide Strike

Iran. November, 2018. Protest Gathering of Ahvaz Alloyed Steel National Group Workers

Yasuj, Iran. July 23, 2018. New Round of Truck Drivers’ Nationwide Strike

Torbat-E Jam, Iran. July 23, 2018. New Round of Truck Drivers’ Nationwide Strike

Yazd, Iran. July 23, 2018. New Round of Truck Drivers’ Nationwide Strike

Iran, Tehran – Anti-Regime Chants in Protest, June 25

Iran, Tehran – Major Protest With Chants of ‘We Will Fight, We Will Die, but We’ll Take Back Iran’