Friday 22nd Mar 2019 

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News: Iran Economy

Iran Regime's Major Financial Corruption

Iran Regime's Major Financial Corruption

By Shahriar Kia

The National Iranian Petrochemical Industries Company (NIPIC) revealed on Wednesday that the Petrochemical Commercial Company (PCC), which is at the centre of a major financial scandal being investigated in Tehran, has failed to return 500 million Euros of its debts since 2013.

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Iran Factions Still Divided Over INSTEX

Iran Factions Still Divided Over INSTEX

By Mahmoud Hakamian

There is still a great deal of controversy in Iran over the European financial channel - the Instrument in Support of Trade Exchanges (INSTEX) - that was designed to help the mullahs evade US sanctions, with opposing political factions calling their rivals “traitor” and “saboteur” for supporting/opposing this move.

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Iran Regime Lost $10b in Oil Revenue

Iran Regime Lost $10b in Oil Revenue

By Staff Writer

The Iranian regime has lost $10 billion in revenue since US sanctions came into full force in November and removed roughly 1.5 million barrels per day (bpd) of Iranian crude from global markets, according to a US State Department official on Wednesday.

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Iran Regime Trying to Update Ageing Oil Tankers Despite US Sanctions

Iran Regime Trying to Update Ageing Oil Tankers Despite US Sanctions

By Staff Writer

Iran is covertly looking for second-hand oil tankers to update its ageing fleet and maintain the flow of crude exports in spite of US sanctions, according to Iranian and Western sources.

Since US sanctions snapped back into place last November, Iran’s talks with South Korea and Panama about replacement tankers have stalled.

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Corruption Continues in Iran

Corruption Continues in Iran

‌By Shahriar Kia

The leadership of Iran is rife with corruption. And it has been for decades.

In the past few years, officials have been increasingly open about the level of corruption that is so widespread and obvious that it is impossible to conceal. Many officials have spoken out about corrupt practices and colleagues and even the Supreme Leader Ayatollah Ali Khamenei has called on officials to put an end to corruption.

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93,000 Iranian Workers Without Pay During New Year

93,000 Iranian Workers Without Pay During New Year

By Staff Writer

Ten of thousands of Iranian workers will be jobless or months behind in their salary payments on the Persian New Year next week, according to the so-called Islamic Job Council Association of Iran.

Ali Khodai, deputy chair of the Council, said: "Salary compensations for 93,000 workers from 900 production units have not been paid during the past year. These 900 production units are owned and operated by the government or government-affiliated entities."

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Iran Regime's Embezzlement Case Obscures True Criminals

By Hamideh Taati

The Iranian Regime’s Judiciary has announced what could be its largest embezzlement case ever at 6.6 billion Euros ($7.4 billion) as part of Supreme Leader Ali Khamenei’s call to remove corruption in the country.

Like many other embezzlement scandals in recent years, this case focuses on schemes to bypass sanctions imposed by U.S., with more than a dozen executives and board members from petrochemical companies accused of committing financial crimes between 2010 and 2013.

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