Iran executes 'Sultan of Coins' convicted of hoarding

Iran executed the so-called "Sultan of Coins" and his accomplice on Wednesday for hoarding gold coins and other hard currency, signaling zero tolerance as it tries to shore up its currency in the face of an economic crisis. State TV reported that Vahid Mazloumin and his accomplice, Mohammad Ismail Ghasemi, were hanged early Wednesday. They were convicted of manipulating coin […]

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Oil Prices Rise As Saudi Arabia Pledges Supply Cut

Oil prices rose on Monday amid news that Saudi Arabia would reduce crude sales in December to shore up sagging prices. Media reports suggest that other major producers are also considering reductions heading into 2019. Global benchmark Brent crude was up 1.28 percent at $71.08 per barrel while U.S. West Texas Intermediate (WTI) crude futures were up 0.66 percent at […]

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Oil Prices Fall Over 1% To Hit Multi-month Lows

Oil prices fell more than 1 percent on Friday to extend recent losses amid signs of rising global supply and concerns over economic slowdown in the face of a worsening U.S.-China trade war. Global benchmark Brent crude oil fell by 83 cents or 1.17 percent to $69.82 a barrel, while U.S. light crude futures were down 1.24 percent at $59.92 […]

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Stocks Gain, Dollar Flat as U.S. Elections Prompt Investor Caution

U.S. shares rose on Tuesday while the dollar held steady as Americans went to the polls in elections that could shift the balance of power in Congress. Treasury yields rose modestly as more supply came to market and spurred selling. Traders also awaited clues about the Federal Reserve’s potential interest rate increases when policymakers meet on Wednesday and Thursday. Treasury […]

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U.S. targets Iran with fresh round of oil, economic sanctions

WASHINGTON, Nov 5 (Reuters) – The United States re-imposed and strengthened economic sanctions on Iran’s oil, banking and transportation sectors on Monday after the Trump administration withdrew from the 2015 Iran nuclear deal, and vowed further action to pressure Tehran. “Treasury’s imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting […]

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US sanctions will push Tehran's hardliners to the fore, Iranian American council warns 

The United States has reintroduced wide -ranging sanctions on Iran. A U.S. based group promoting ties between the countries believe it will check progress and reform in Iran. Oil prices rose during Monday’s trading session. The reimplementation of U.S. sanctions on Iran will benefit the hard-line faction within the Middle East country, according to the Washington, D.C.-based National Iranian American […]

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US allows India, China, 6 others to buy Iranian oil

India, China and Japan are among eight countries temporarily allowed to continue buying Iranian oil as they showed significant reduction in oil purchase from the Persian Gulf country after the United States reimposed crippling sanctions on Tehran, Secretary of State Mike Pompeo said on Monday. Pompeo vowed that the US will be ‘relentless’ in pressuring Iran as he announced the list […]

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