Against the backdrop of US sanctions against Iran, the high cost of living and suspected corruption, Tehran believes that the country is facing an “economic war.” The Chairman of the Supreme court Ayatollah Sadegh Amoli Larijani wrote a letter about this to the Iranian spiritual leader Ayatollah Ali Khamenei, as reported by the state television channel of the Islamic Republic on Saturday, August 11th.

“The current specific economic conditions can be considered an economic war,” pointed out …

The Russian currency market continues to sink due to the risk of sanctions and the outflow of foreign capital, finanz.ru reports.

After gaining 2.05 rubles on Wednesday, 1.11 on Thursday, the US dollar gained a further 1.24 rubles during trade on Friday, reaching 67.8975 rubles, the highest since April 18, 2016. The euro appreciated by 48 kopeks for the day and 3.11 rubles since the start of the week, updating its 4-month high to 77.43 rubles.

There is a growing lack of foreign currency in …

Turkey is preparing to carry on trade in national currencies with its largest trading partners, such as Ukraine, China, Russia and Iran, writes Kommersant newspaper.

According to Turkish President Recep Tayyip Erdogan, if European countries want to get rid of the dollar "shackles" then Ankara is ready to create similar trade system with them.

Turkey does not accept the world order in which the world has declared an economic war, and countries are pressured by the threat of imposing sanctions, …