IMF: Iran Inflation Could Reach 40 Percent Amid Sanctions

Iran’s economy is expected to shrink by six percent this year and inflation could reach 40 percent, the International Monetary Fund (IMF) forecasts, as the country copes with the impact of tighter U.S. sanctions.

Iranian parliament labels entire US military as terrorist

Iranian lawmakers on Tuesday overwhelmingly approved a bill that labels all U.S. military forces as terrorist, state TV reported, a day after Washington ratcheted up pressure on Tehran by announcing that no country would any longer be exempt from U.S. sanctions if it continues to buy Iranian oil.

China signals plan to flout US sanctions on Iranian oil

China signaled an intention to defy U.S. sanctions on Iran’s oil industry on Tuesday, denouncing the loss of a waiver renewal as an unacceptable threat against “normal energy cooperation” with Tehran.

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