عربي English Türkçe اردو فارسى
Logo
Latest News
World

Iran’s Currency Continues to Fall, Rouhani’s Administration Says Criticism 'Acceptable'

via TASNIM
via TASNIM
TT
TT

Iran’s Currency Continues to Fall, Rouhani’s Administration Says Criticism 'Acceptable'

via TASNIM
via TASNIM

The Iranian currency continued to fall as its rial hit a record low against the US dollar for the second time in two months over concerns about Iran's economy.

The Iranian government, according to several officials in President Hassan Rouhani’s administration, rushed to defend its performance against the harsh criticisms by the state’s newspapers although government Spokesman Mohammad Bagher Nobakht said the criticisms were "acceptable".

The rial, which had plunged through 50,000 rials to the dollar in February, depreciated to 60,000 on the unregulated market.

The rial has reached a series of records-low in recent weeks, and stood at 58,650 to the dollar at the close of business on Monday.

Several foreign-exchange dealers announced they had stopped selling both dollars and euros by late afternoon trade, according to ISNA.

After an emergency session of the government on Monday night, Vice-President Eshagh Jahangiri said the rate would be capped at 42,000 rials to the dollar and foreign exchange offices would be brought under the control of the central bank.

"Unfortunately in recent days, incidents have happened in the rate of foreign currency which have caused concern for the people," he said in comments on the state broadcaster.

He blamed "non-economic, unjustified and unpredictable factors" for driving the rial's collapse, given that its exports were performing strongly.

"There should not be such incidents in an economy that always has a surplus of foreign currency. Some say interference by foreign hands is disrupting the economic climate and some say domestic machinations are spurring these things in order to destabilize the climate in the country," added Jahangiri.

For his part, Nobakht said, “We will certainly use all of the state’s strengths and capabilities in order to, God-willing, steady the market.”

“We accept that this situation is not a good one and it’s against what we want,” he added in a statement.

Rouhani met with officials to discuss ways to intervene and stabilize the currency, Nobakht said. The measures will be implemented in coming days, he added without elaborating.

Most Viewed

 
 
World

Half of Ukraine’s Capital in the Dark After Russian Strikes, Ministry Says

People use a flashlight as they walk during a power blackout after critical civil infrastructure was hit by recent a Russian missile and drone attacks, amid Russia's attack on Ukraine, in Kyiv, Ukraine December 8, 2025. (Reuters)
People use a flashlight as they walk during a power blackout after critical civil infrastructure was hit by recent a Russian missile and drone attacks, amid Russia's attack on Ukraine, in Kyiv, Ukraine December 8, 2025. (Reuters)
TT
TT

Half of Ukraine’s Capital in the Dark After Russian Strikes, Ministry Says

People use a flashlight as they walk during a power blackout after critical civil infrastructure was hit by recent a Russian missile and drone attacks, amid Russia's attack on Ukraine, in Kyiv, Ukraine December 8, 2025. (Reuters)
People use a flashlight as they walk during a power blackout after critical civil infrastructure was hit by recent a Russian missile and drone attacks, amid Russia's attack on Ukraine, in Kyiv, Ukraine December 8, 2025. (Reuters)

Power was out for roughly half of residents in the Ukrainian capital Kyiv on Tuesday after the latest Russian attacks on the country's energy system, the energy ministry said.

"The situation in Kyiv remains one of the most difficult – currently, up to 50% of consumers in the capital are without electricity," the ministry said on Telegram.

Russia has sharply increased both the number and intensity of attacks on Ukrainian gas and energy infrastructure in recent months, targeting both power generation facilities and electricity transmission systems.

Ukraine operates three nuclear power plants, which produce more than 50% of all electricity, but the plants are forced to reduce production due to damage to power lines.

The energy shortage is forcing power grid operator Ukrenergo to restrict supplies to consumers, plunging entire regions into darkness. Power cuts also affect heat and water supplies.

Residents of Kyiv and the Kyiv region have been getting electricity for only about 10 hours out of 24 over the past week.

World

Germany Plans Production of Advanced Taurus Missiles from 2029

A man pauses on a pedestrian bridge as a German flag flies over the Reichstag building in Berlin on October 23, 2024. (AFP)
A man pauses on a pedestrian bridge as a German flag flies over the Reichstag building in Berlin on October 23, 2024. (AFP)
TT
TT

Germany Plans Production of Advanced Taurus Missiles from 2029

A man pauses on a pedestrian bridge as a German flag flies over the Reichstag building in Berlin on October 23, 2024. (AFP)
A man pauses on a pedestrian bridge as a German flag flies over the Reichstag building in Berlin on October 23, 2024. (AFP)

Germany plans to begin production of an upgraded version of its Taurus cruise missile in 2029, according to a budget proposal seen by Reuters on Tuesday, which is expected to be approved by parliament next week.

German forces currently have some 600 Taurus missiles with an official range of more than 500 km (311 miles) in their inventories, to be launched from fighter jets such as the Tornado, the F-15 or the F-18.

The weapon, built by European defence company MBDA , is designed to destroy high-value targets behind enemy lines such as command bunkers, ammunition and fuel dumps, airfields and bridges.

The German government has repeatedly denied requests by Ukraine to supply it with Taurus cruise missiles amid concerns over their long range and their potential use against targets inside Russia, according to Reuters.

The upgraded Taurus NEO missile, as outlined in the 415-million-euro ($483 million) budget proposal which is classified as confidential, will feature an extended range, improved shielding against interference, and advancements in navigation and seeker head technology.

Sweden's Saab and US-based Williams International are identified as the main subcontractors for the enhanced missile.

At a later stage, Sweden and Spain may join the contract, the document said.

According to previous information, Germany aims to purchase some 600 Taurus NEO for around 2 billion euros in total.

The Kremlin has told Germany that delivering cruise missiles to Kyiv would lead to a further round of "spiralling tension" in the Ukraine conflict.

World

Putin Does Not Want to Restore the USSR or Attack NATO, the Kremlin Says 

Russian President Vladimir Putin speaks during his meeting with members of the Council of the Collective Security Treaty Organization (CSTO) Parliamentary Assembly at the Senate Palace of the Kremlin in Moscow, Russia December 8, 2025. (Pavel Bednyakov/Pool via Reuters)
Russian President Vladimir Putin speaks during his meeting with members of the Council of the Collective Security Treaty Organization (CSTO) Parliamentary Assembly at the Senate Palace of the Kremlin in Moscow, Russia December 8, 2025. (Pavel Bednyakov/Pool via Reuters)
TT
TT

Putin Does Not Want to Restore the USSR or Attack NATO, the Kremlin Says 

Russian President Vladimir Putin speaks during his meeting with members of the Council of the Collective Security Treaty Organization (CSTO) Parliamentary Assembly at the Senate Palace of the Kremlin in Moscow, Russia December 8, 2025. (Pavel Bednyakov/Pool via Reuters)
Russian President Vladimir Putin speaks during his meeting with members of the Council of the Collective Security Treaty Organization (CSTO) Parliamentary Assembly at the Senate Palace of the Kremlin in Moscow, Russia December 8, 2025. (Pavel Bednyakov/Pool via Reuters)

The Kremlin said on Tuesday that European claims that Russian President Vladimir Putin wanted to restore the Soviet Union were wrong and that claims Putin plans to invade a NATO member were complete stupidity.

Putin, who was born in the Soviet Union, in 2005 cast the collapse of the Soviet Union as the biggest geopolitical catastrophe of the 20th century because tens of millions of Russians were impoverished and Russia itself faced the threat of disintegration.

Opponents say Putin's Russia is decaying in a potent brew of absurdity and repression that is comparable to the Leonid Brezhnev-era of the Soviet Union. Western leaders say that Putin, if he wins in Ukraine, will one day attack NATO.

Putin has repeatedly denied that he has any plans to attack NATO and has said that such a step would be foolish for Russia given the conventional military superiority of NATO over Russia.

German Chancellor Friedrich Merz said on Monday that Putin wanted to bring the "old Soviet Union" back and that Europe had to defend itself against what he said were clear Russian intentions, set out, he said, in Russian state doctrines, to attack NATO.

"This is not true," Kremlin spokesman Dmitry Peskov told reporters when asked about Merz's remarks. "Vladimir Putin does not want to restore the USSR because it is impossible, and he himself has repeatedly said this."

"To talk about it is not respectful to our partners," Peskov said. "Apparently, Mr. Merz does not know this."

"As for preparing for an attack on NATO, this is complete stupidity," Peskov said.