Page 5 - IRANRptOct22

headscarf—Ayatollah Ali Khamenei said "riots" were "engineered" by Iran's arch-foes and their allies. He gave his strong backing to the security forces. President Joe Biden, meanwhile, issued a statement saying he was "gravely concerned" that there were reports of an "intensifying violent crackdown on peaceful protestors".
Iranian oil industry contract workers have warned the government that they will strike if it does not end its crackdown on protesters, who have been demonstrating against Iran’s ruling regime for nearly two weeks in scores of towns and cities, Radio Farda has reported.
Such a strike could cripple an essential sector of the Iranian economy. The Iran Human Rights Organisation said on September 27 that at least 76 people had been killed in the ongoing protests.
The Ukraine conflict has reportedly resulted in a surprising surge of trade flows from Europe to the East and South via Iran, which saw Iranian goods transit increase 52% in March and creates something of a political quandary for both the European Union and United States, as Iran, like Russia is also under significant US sanctions.
With sanctions still in place in an effort at keeping Iranian oil off world markets, Iran has been relying on China turning a blind eye to American demands to import substantial amounts of Iran’s crude on the grey market. Iran's oil export volume is running at a level 40% higher than was seen a year ago, according to the National Iranian Oil Co (NIOC).
Iran's gas export earnings for the first four months of the Persian calendar year (March 21 to July 21) reached nearly $4bn, higher by 580% y/y, the semi-official ISNA news agency quoted Oil Minister Javad Owji as saying on July 27. The Islamic Republic has expanded gas output significantly at South Pars in recent years and supplies are estimated to flow at an average of 850-950mn cubic metres per day, topping out at 1bn cubic metres.
Iran's petrochemical exports rose by 38% y/y to $9.14bn in the first five Persian calendar months (March 21 to August 21), state media reported on August 28. Petrochemicals accounted for 44% of the value of Iran’s total exports in the period, according to the Islamic Republic of Iran Customs Administration (IRICA). Petrochemicals provide Iran with its second-largest source of export revenue after crude oil, constituting almost one-third of the country’s non-oil exports.
Iranian President Ebrahim Raisi and Russian counterpart Vladimir Putin have voiced their wish to pursue de-dollarisation in global trade during Putin’s visit to Tehran on July 19. Raisi remarked on June 29 that an independent financial system would make it "impossible for any country to exert influence or pressure on it".
Meanwhile, Iran placed its first official import order using a cryptocurrency, Tasnim News Agency reported on August 9. Such orders could provide a way for Tehran to dodge US sanctions. The type of cryptocurrency used was not disclosed by officials.
The Iranian rial (IRR) has fallen to a record low against the dollar amid the global surge in the US currency, more than two weeks of anti-regime protests and the failure of Tehran and the major powers to find a path to
5 IRAN Country Report October 2022 www.intellinews.com