Page 2 - Iran Economy

Iran goes to runoff polls between reformist Masoud Pezeshkian, Saeed Jalili

Iran will hold a runoff presidential election to replace the late hard-line President Ebrahim Raisi, an official said Saturday, after an initial vote saw the top candidates not secure an outright win. The election this coming Friday will pit reformist candidate Masoud Pezeshkian against the hard-line former nuclear negotiator Saeed Jalili. Mohsen Eslami, an election spokesman, announced the result in a news conference carried by Iranian state television. He said of 24.5 million votes cast, Pezeshkian got 10.4 million while Jalili received 9.4 million. Parliament speaker Mohammad Bagher Qalibaf got 3.3 million. Shiite cleric Mostafa Pourmohammadi had over 206,000 votes. Raisi, a 63-year-old protege of Iran's Supreme Leader Ayatollah Ali Khamenei, died in a helicopter crash in May.

Iran concludes polls to replace president killed in helicopter crash

Iranians voted on Friday to replace the late President Ebrahim Raisi, who was killed in a May helicopter crash in the country's northwest along with the foreign minister and several other officials. Analysts broadly described the race as a three-way contest. There are two hard-liners, former nuclear negotiator Saeed Jalili and the parliament speaker, Mohammad Bagher Qalibaf. Then there's the reformist candidate Masoud Pezeshkian, who has aligned himself with those seeking a return to the 2015 nuclear deal with world powers. After record-low turnout in recent elections, it remains unclear how many Iranians will take part in Friday's poll. While 85-year-old Supreme Leader Ayatollah Ali Khamenei has final say on all matters of state, presidents can bend Iran toward confrontation or negotiations with the West. Currently: As Iran's presidential vote looms, tensions boil over regarding a renewed headscarf crackdown. An analysis explores how no matter who wins Iran's election, much may

Iran's presidential race: Candidates debate foreign policy ahead of vote

Iran's presidential candidates discussed the country's foreign policy Monday in a three-hour live debate, promising to seek better relations with other nations and work to have sanctions on their country lifted. The televised debate was the fourth in a series of five ahead of Friday's election, which follows a helicopter crash last month that killed Iranian President Ebrahim Raisi and seven others. The final debate will be Tuesday. All the candidates pledged to try to have Western sanctions on Iran lifted, but they expressed different attitudes about the issue. "We will definitely negotiate and reach an agreement to revive a nuclear deal with world powers that President Donald Trump pulled the U.S. out of in 2018, said Mohamad Bagher Qalibaf, the hardline pragmatic parliament speaker, who is seen as a prominent candidate. However, he said that under his presidency Iran would choose a gradual policy, taking step in return to step that the other side would take in lifting ...

Iran's presidential candidates debate economic policies ahead of voting

Six presidential candidates discussed Iran's economic problems in a four-hour live debate on state TV, ahead of the June 28 presidential election following a helicopter crash last month that killed President Ebrahim Raisi and seven others. The debate on Monday was the first of five planned in the 10 days remaining before the vote in a shortened campaign to replace Raisi, a hard-line protg of Supreme Leader Ayatollah Ali Khamenei once floated as a possible successor to the 85-year-old cleric. The candidates were to discuss their proposals and plans for Iran's spiralling economy, struggling under sanctions from the United States and other Western nations. They all promised they would try and get the sanctions lifted and introduce reforms but none offered any details. The candidates also discussed inflation, the budget deficit, Iran's housing problem and ways to fight corruption. The June 28 election comes at a time of heightened tensions between Iran and the West over Tehran's rapidl

Iran's centre of power moves from clerical slippers to combat boots

With Raisi gone, the Islamic Revolutionary Guard Corps, the most powerful arm of Iran's military is now well placed to become more powerful

Houthi rebels claim they shot down another drone; US army denies claim

The Iran-backed Houthi rebels in Yemen claimed on Tuesday they shot down an American drone over the impoverished Arab county. The US military did not immediately acknowledge the claim. If confirmed, this would be the second MQ-9 Reaper drone downed by the Houthis over the past week as they press their campaign over the Israel-Hamas war in the Gaza Strip. Last Friday, the Houthis claimed downing an American drone over the province of Marib, hours after footage circulated online of what appeared to be the wreckage of an MQ-9 Reaper. And early Saturday, a vessel also came under attack in the Red Sea. Houthi military spokesman Brig. Gen. Yahya Saree said Tuesday the drone was shot down with a locally made surface-to-air missile. He did not say when it took place but alleged the drone was carrying out hostile missions over Yemen's southern province of Bayda. The US Mideast-based Central Command did not immediately respond to a request for comment from The Associated Press regarding the

Mourners begin funerals for Iran's prez, others killed in chopper crash

Mourners in black began gathering Tuesday for days of funerals and processions for Iran's late president, foreign minister and others killed in a helicopter crash, a government-led series of ceremonies aimed at both honouring the dead and projecting strength in an unsettled Middle East. For Iran's Shiite theocracy, mass demonstrations have been crucial since millions thronged the streets of Tehran to welcome Grand Ayatollah Ruhollah Khomeini in 1979 during the Islamic Revolution. An estimated 1 million turned out in 2020 for processions for the late Revolutionary Guard Gen. Qassem Soleimani, who was slain in a US drone strike in Baghdad. Whether President Ebrahim Raisi, Foreign Minister Hossein Amirabdollahian and others draw the same crowd remains in question, particularly as Raisi died in a helicopter crash, won his office in the lowest-turnout election in the country's history and presided over sweeping crackdowns on all dissent. Prosecutors already have warned people over showi

President Ebrahim Raisi declared dead: What's next for Iran's leadership

Iranian President Ebrahim Raisi, along with Foreign Minister Hossein Amirabdollahian and others, were confirmed dead on Monday, a day after their helicopter crashed in the mountainous northwest

Chabahar pact key milestone; to provide connectivity to region: PM Modi

Prime Minister Narendra Modi termed India signing a contract to operate the strategic Iranian port of Chabahar as an important milestone and said New Delhi will work to provide connectivity to landlocked Afghanistan and Central Asia region to promote trade and commerce. In an interview to PTI, he said India will work to promote regional connectivity, trade and commerce through not just the Chabahar port but also through the International North South Transport Corridor as also the India-Middle East-Europe Economic Corridor. Since coming to power in 2014, Modi said, his government gave precedence to Chabahar Port. "In 2016, during my visit to Iran, the trilateral agreement between India, Iran and Afghanistan was signed, in order to provide the much-needed connectivity to Afghanistan." An Indian company took over the port operations a few years ago, and since then it is being used by India to provide "humanitarian assistance to Afghanistan including wheat, pulses, pesticides, medical .

Oil prices climb amid uncertainty over Iran President Raisi's fate

A helicopter carrying Iranian President Ebrahim Raisi crashed on Sunday, Iranian officials said

India, Iran to ink 10-year agreement to manage and operate Chabahar port

The deal, significant for its potential impact on trade and geopolitics, had been in the works for years but had been stalled for various reasons

Iran rejects Argentina's request to arrest minister over 1994 bombing

Iran lashed out at Argentina on Wednesday after the South American country sought the arrest of Iran's Interior Minister Ahmad Vahidi over his alleged involvement in the deadly 1994 bombing of a Buenos Aires Jewish community centre. Without mentioning Vahidi by name, Iran's Foreign Ministry warned Argentina against making baseless accusations against citizens of other countries. The warning Wednesday came a day after Argentina demanded that Pakistan act on an Interpol red notice to arrest Vahidi during an official visit to Islamabad. Vahidi, who is wanted by Interpol, cut his government trip to Southeast Asia short, making an unexpected return to Tehran Wednesday. There was no immediate response from Pakistani authorities. Argentina's renewed push to hold Iran accountable for the worst such attack in its history comes as right-wing President Javier Milei reshapes foreign policy to align more closely with Iran's bitter enemy, Israel, and as tensions surge between the Mideast foes.

Anyone considering business with Iran will face risk of sanctions: US

Anyone considering a business deal with Iran needs to be aware of the potential risk of sanctions from the United States, an official said on Tuesday. "Just let me say broadly, we advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. But ultimately, the government of Pakistan can speak to their own foreign policy pursuits," Vedant Patel, Deputy Spokesperson of the US State Department, said while responding to a question on a recent visit of the Iranian president to Pakistan. During the visit, Pakistan and Iran signed eight MoUs (memoranda of understanding) and also agreed to push bilateral trade to USD 10 billion. Early this week, the US imposed sanctions on suppliers to Pakistan's ballistic missile programme, including three companies from China. "The sanctions were made because these were entities that were proliferators of weapons of mass destruction and the means of their delivery. These were entities based in the PRC (People's Repub

Signs of stress: India Inc feels the heat of Iran-Israel conflict

Industry executives nervous about rising freight cost, longer delivery time

Iran asserts 'inherent right to self-defence' over Israel's aggression

Iran expressed disappointment that the UN Security Council failed to "fulfil its duty in a right, fair, unbiased and undiscriminating manner"

US, UK issue new sanctions on Iran in response to weekend attack on Israel

The US and UK on Thursday imposed a new round of sanctions on Iran as concern grows that Tehran's unprecedented attack on Israel could fuel a wider war in the Middle East. Treasury's Office of Foreign Assets Control targeted 16 people and two entities in Iran that produce engines that power the drones used in the April 13 attack on Israel. Additionally, the UK is targeting several Iranian military organizations, individuals and entities involved in Iran's drone and ballistic missile industries. We will continue to deploy our sanctions authority to counter Iran with further actions in the days and weeks ahead," Treasury Secretary Janet Yellen said in a statement. The action comes after US officials earlier this week warned that they were readying new sanctions in response to Iran's activity in the region and to prevent future attacks. Lawmakers on Capitol Hill also have been quickly pushing forward legislation that would financially punish the Islamic Republic and its leaders. Iran'

US contemplates more Iran sanctions; Israel war cabinet to meet again

An Israeli government source said the war cabinet session scheduled for Tuesday had been put off until Wednesday, without elaborating

Will allow Indian authorities to meet crew members of seized vessel: Iran

Iranian Foreign Minister Hossein Amir-Abdollahian has said that Tehran will allow Indian authorities to meet 17 Indian crew members of a cargo vessel that was seized by the Iranian military near the Strait of Hormuz on Saturday. Amir-Abdollahian conveyed this to External Affairs Minister S Jaishankar during a telephonic conversation on Sunday, according to an Iranian readout. In the talks, Jaishankar called for release of the Indians onboard Portuguese-flagged cargo vessel MSC Aries. "We are following up on the details of the seized ship and soon it will be possible for the representatives of the Indian government to meet with the crew of the said ship," the Iranian readout quoted Amir-Abdollahian as saying. It said Jaishankar expressed his concern about the situation of the 17 Indian crew members and requested assistance from Iran in this regard. Special Naval Forces of Iran's Islamic Revolution Guards Corps (IRGC) seized 'MSC Aries' reportedly in view of its links with Israel.

Iran-Israel conflict: Blinken calls Turkey, Egypt, Jordan, Saudi FMs

: US Secretary of State Antony Blinken on Sunday reached out over phone to the foreign ministers of Jordan, Saudi Arabia, Turkey and Egypt, while Defense Secretary Lloyd Austin had calls with his Saudi and Israeli counterparts, amid signs of an escalating crisis in the Middle East following Iran's strikes on Israel. Iran fired more than 300 drones and missiles at Israel, which Tehran said was in response to the April 1 strike on its consulate in Syria. Almost all Iranian drones and missiles were shot down by Israeli, US and allied forces before they reached their targets. The diplomatic overdrive to fight the crisis came soon after US President Joe Biden had a conference call with G-7 leaders and had separate telephonic conversations with King Abdullah of Jordan and Prime Minister Benjamin Netanyahu of Israel. In all the calls, the American leadership emphasised on the need to avoid further escalation in the region and reaffirmed America's ironclad commitment to the security of ...

Despite years of enmity, Why did Iran attack Israel for the first time?

Iran's dramatic aerial attack on Israel follows years of enmity between the countries and marks the first time Iran has launched a direct military assault on Israel. The hostility between the countries has only worsened in the six months since Hamas launched its attack on Israel, which set off a war that continues to threaten to drag the entire region towards a broader conflict. Here is a look at the key events leading up to Iran's assault: HAMAS ATTACKS ISRAEL Oct. 7 - Thousands of Hamas-led militants storm across the border into Israel, killing 1,200 people, mostly civilians, and taking roughly 250 captive, according to Israeli authorities. The assault triggers a devastating war that has killed more than 33,700 people, mostly women and children, according to local health officials. In launching the assault, Hamas hopes other regional enemies of Israel's will join. U.S. President Joe Biden warns Israel's regional foes not to get involved and sends military support to the Middle ...