Iran drops India from Chabahar rail project, cites funding delay

News: Iran government has decided to move ahead with the construction of a rail line from Chabahar port to Zahedan along the border with Afghanistan on its own as it cited delays from the Indian side in funding and starting the project. Facts: Chabahar Rail Line: It is a 628-kilometre railway line that connects Chabahar… Continue reading Iran drops India from Chabahar rail project, cites funding delay

Amid high inflation, Iran to get a new currency

News:The Iranian parliament has approved a bill to allow a major overhaul in the country’s currency rial. Facts: Key Features of the Bill: It allows the government to slash four zeros from the rial and to replace Iranian national currency Rial with another basic unit of currency called Toman(redenomination).Each Toman will be equal to 10,000… Continue reading Amid high inflation, Iran to get a new currency

Iran says it may pull out of nuclear treaty over Europe dispute

News:Iran has warned to withdraw from the Non-Proliferation Treaty(NPT) if the European countries refer the dispute over its Nuclear programme to the United Nation Security Council. Facts: About the issue: Britain, France and Germany launched a process last week charging Iran with failing to observe the terms of the 2015 Iran nuclear deal. This move… Continue reading Iran says it may pull out of nuclear treaty over Europe dispute

US gives ‘narrow exemption’ to India from sanctions on Chabahar for aid: Official

News:According to US officials,the US has provided a rare exemption to India from sanctions on the Chabahar port in Iran. Facts: About Chabahar port: Chabahar port is a seaport in Chabahar in South-Eastern Iran.Its location lies in the Gulf of Oman.It is the only Iranian port with direct access to the ocean. The Chabahar Agreement… Continue reading US gives ‘narrow exemption’ to India from sanctions on Chabahar for aid: Official

6 European nations join Iran barter system

News:Recently,six European countries have joined the barter mechanism called INSTEX which is designed to circumvent US sanctions against trade with Iran by avoiding the use of dollars. Facts: What is INSTEX: The Instrument In Support Of Trade Exchanges(INSTEX) is a payment mechanism set up by the governments of France, Germany and Britain to secure trade… Continue reading 6 European nations join Iran barter system

Iran’s Rouhani says no talks with US until sanctions lifted

Iranian president has ruled out meeting US President until the US lifts sanctions on Iran. This statement came after French President has said that he would try to arrange a meeting between US President and Iran to ease the strained relationship between the two countries. The US and Iran have been locked in a stand-off… Continue reading Iran’s Rouhani says no talks with US until sanctions lifted

India hoping for Iran deal, Russia’s inclusion in G7

The Group of Seven(G7) summit is being held in Biarritz,France.The summit will discuss issues such as (a)global free trade (b) environment (c) climate change (d) digital economy among others. However,India would be interested in two other issues which are (a) Relations between Iran and US and (b) Inclusion of Russia in the G7 group. The… Continue reading India hoping for Iran deal, Russia’s inclusion in G7

Bavar-373 system

Iran has unveiled its new home-grown air defence system called Bavar-373. Bavar-373 is a long-range mobile surface-to-air missile system.It is designed to intercept and destroy incoming hostile targets.  The system employs missiles that have a maximum range of 300 kilometers.  The system is also capable of simultaneously detecting up to 300 targets, tracking 60 targets… Continue reading Bavar-373 system

Defying U.S., Gibraltar frees Iran tanker

Gibraltar has released an Iranian oil tanker named Grace 1.The oil tanker was stopped by the UK navy after the government of Gibraltar suggested it was heading for Syria. Gibraltar is a British Overseas Territory located at the southern tip of the Iberian Peninsula.It occupies a commanding position at the western gateway to the Mediterranean… Continue reading Defying U.S., Gibraltar frees Iran tanker

Iran unveils ‘improved’ radar air defence system

Iran has unveiled an improved radar air defence missile system called Falaq. The Falaq is said to be an upgraded version of the current Gamma system which military experts said was of Russian origin. The missile can detect enemy missiles and drones from more than 400 kms away.The system also has high capabilities and can… Continue reading Iran unveils ‘improved’ radar air defence system