The Iranian Rial Hits Record Low as Iran Unravels in Protests

The Iranian rial fell to an all-time low in Iran’s unregulated, open market on Monday as protests against the government continued and hopes of reviving the nuclear deal remained slim. The rial fell to an average of IRR367,500 to the US dollar, IRR367,050 to the Euro and IRR421,700 and to the pound according to two exchange shops in the capital Tehran and local websites monitoring foreign currency prices. The rial has lost more than 40% against the dollar since August 2021. … Continue reading “The Iranian Rial Hits Record Low as Iran Unravels in Protests”

Iran Applies to Join China and Russia in BRICS

Iran, following a virtual summit last week where Chinese President Xi Jinping joined Russian President Vladimir Putin and other BRICS leaders, announced they would like to join BRICS themselves. The move, while an obvious cheap political ploy to divert from the G7 meeting going on over the weekend underscores the so-called outcast triad of Iran, China and Russia. The three nations have been largely labeled as outcasts for various reasons by the majority of the civilized world. The term BRIC … Continue reading “Iran Applies to Join China and Russia in BRICS”

U.S. And Israel To Discuss Military Drills For Different Iran Scenarios

U.S. talks with visiting Israeli Defense Minister Benny Gantz on Thursday are expected to discuss possible military exercises that would prepare for a worst-case scenario to destroy Iran’s nuclear facilities should diplomacy fail a senior U.S. official told Reuters. The talks follow an Oct. 25 briefing by Pentagon leaders to White House national security adviser Jake Sullivan  The U.S. official said on Wednesday, speaking on condition of anonymity said the U.S.-Israeli preparations, which have not been previously reported, underscore Western … Continue reading “U.S. And Israel To Discuss Military Drills For Different Iran Scenarios”

Iranian Nuclear Deal Revival Talks Seem Futile With Scaled Up Iran Uranium Efforts

Negotiations for the seemingly endless talks aimed at reviving the international nuclear agreement with Iran is set to start Monday involving the U.S., Britain, Germany, France, Russia, China and Iran. The elephant in the room is has Tehran advanced its nuclear work so much in the past two years that the 2015 deal can no longer be rescued? Iran’s new president has delayed restarting talks while pressing ahead with nuclear work. Iran is in no hurry after President Donald Trump … Continue reading “Iranian Nuclear Deal Revival Talks Seem Futile With Scaled Up Iran Uranium Efforts”

Turkish Lira Slides to Seven Month Low, State Banks Sell US$1.5 Billion To Stem Fall

Turkey’s Lira hit a 7 month low after the U.S. assassinated Iranian Maj. Gen.Soleimani in an airstrike. Iran’s Supreme Leader Ayatollah Ali Khamenei Swore retribution after the US Turkish state lenders sold up to $1.5 billion to stem the lira’s fall on Friday,

Saudi Arabian Aramco Oil Plant Attacked by Houthi Rebels Affects 5mbpd Production

Houthi rebels from Yemen launched successful drone attacks on the world’s biggest petroleum processing facility in Saudi Arabia Saturday. Reuters reports that up to 5mbpd of production has been impacted, half of Saudi Arabia’s output. Fires reportedly under control but damages unclear. The Yemen Houthi rebels have launched similar attacks in the past however they have never been so successful. Saturday’s attack was the largest yet claimed by the Houthis in terms of its overall impact on the Saudi economy. … Continue reading “Saudi Arabian Aramco Oil Plant Attacked by Houthi Rebels Affects 5mbpd Production”