Browsing: Iran

Iran, also called Persia, and officially the Islamic Republic of Iran, is a country in Western Asia.

President: Hassan Rouhani

Capital: Tehran

Population: 81.8 million (2018) World Bank

Currency: Iranian rial

Check out our latest coverage of Iran news and stories.

The U.S. and U.K. impose new sanctions on Iran following an unprecedented attack on Israel, raising concerns of a wider conflict in the Middle East. The sanctions target individuals and entities involved in producing drones used in the attack, as well as firms in the steel and automotive industries supporting Iran’s military. President Joe Biden vows to continue imposing sanctions to degrade Iran’s military capabilities.

The EU will expand sanctions on Iranian producers of drones and missiles following Iran’s attack on Israel. More than 300 missiles were launched from Iran, with 99% of them shot down or intercepted by Israel and its allies. Iran launched its attack after an Israeli strike on its consulate building in Syria killed 13 people.

Early in Asian trading, oil prices experienced a decline following Iran’s retaliatory strike on Israel during the weekend. Despite this, Brent crude, a crucial global oil price benchmark, remained lower but hovered around $90 per barrel on Monday morning.