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Iran grapples with currency market turmoil

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AFP: Iran’s currency market was in turmoil Wednesday as the central bank imposed draconian measures to try to shore up its beleaguered rial in the face of existing and looming Western sanctions.

Exclusive: In major blow, EU agrees embargo on Iranian crude

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Reuters: European governments have agreed in principle to ban imports of Iranian oil, EU diplomats said Wednesday, dealing a potentially heavy blow to Tehran that crowns new Western economic sanctions imposing real pain just months before an Iranian election.

Mass. pension fund divests of companies with Iran ties

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Reuters: The Massachusetts public employees pension fund has divested all of its stakes in companies with major ties to Iran’s energy industry, joining a campaign to pressure the country to stop developing nuclear weapons, state Treasurer Steve Grossman said on Tuesday.

Iran’s currency slumps 12% as sanctions bite

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AFP: Iran’s currency, the rial, slumped 12 percent in street trading Monday, accelerating a slide triggered on the weekend when the United States activated new sanctions over Tehran’s nuclear drive.

Kuwait protests at Iran step to develop gas field

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Reuters: Kuwait protested on Tuesday against Iran’s intention to unilaterally develop a disputed offshore gas field in the Gulf unless an agreement is reached, Kuwait’s state news agency KUNA reported.

Iran threatens action if U.S. carrier returns: IRNA

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Reuters: Iran will take action if a U.S. aircraft carrier which left the area because of Iranian naval exercises returns to the Gulf, the state news agency quoted army chief Ataollah Salehi as saying on Tuesday.

Iran sentences daughter of former president

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AP: The daughter of former Iranian President Akbar Hashemi Rafsanjani has been convicted and sentenced to six months in prison on charges of making propaganda against the ruling system.

Verdict awaited in trial of ‘CIA spy’: Iran official

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AFP: A trial in Iran of an American-Iranian man accused of being a CIA spy has finished and he is now awaiting the verdict, the country’s chief prosecutor said Monday, according to the Mehr news agency.

Iranian border guards still in Pakistani custody

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AP: Pakistani authorities have yet to decide what to do with three Iranian border guards who they say crossed into southwestern Pakistan while chasing after smugglers and killed one them, a government official said Monday.

Iran tests missiles near key oil-transit strait

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AFP: Iran on Monday tested missiles near the Strait of Hormuz, underlining its threats to close the vital oil-transit waterway as the West readies to impose more economic sanctions over Tehran’s nuclear drive.