Iran’s central bank began distributing a 5,000,000-rial “Iran-cheque” on Sunday, describing it as a step to “facilitate the circulation of cash” and speed up everyday transactions. Iran’s economic crisis is not a new grievance.

The decline was largely driven by a web of middlemen and buyers who know Tehran has limited options for unloading its sanctioned crude.

Amid widening protests that have led to thousands of deaths, the US has hit Iran with sweeping sanctions intended to target a “shadow banking” network that powers the country’s petroleum and petrochemical sales to foreign markets, the US Treasury Department said on Thursday.

Crude oil posted the largest weekly gains since October, as the buildup of US forces near Iran raised concerns that military strikes could occur, potentially disrupting global crude supply.

Iran has raised oil output to near pre-sanctions levels by offering discounted crude and relying heavily on Chinese independent refiners. Despite higher exports, Iran’s economy remains under severe strain due to inflation, currency collapse, and ...

Speculation about an imminent war with Iran is being amplified daily, fueling anxiety across the region. Against this backdrop, Iran faces a dual challenge: navigating through the gathering storm clouds toward political negotiations that safeguard its interests,

President Trump says India will stop buying sanctioned Russian oil in trade deal, but data shows shadow fleet vessels on the move evading global enforcement.

By Florence Tan SINGAPORE, Jan 30 (Reuters) - Oil prices are headed for their biggest monthly gains in years on Friday as tensions in the Middle East escalated over a possible U.S. attack on Iran that could disrupt supplies from one of the biggest OPEC producers.