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Recent developments regarding the Free Trade Agreement (FTA) between Iran and the Eurasian Economic Union (EAEU) have garnered attention. Hadi Tahan Nazif, spokesperson for the Guardian Council, confirmed the FTA’s compliance with Islamic law and the Iranian Constitution, indicating its impending implementation by late March or early April. This agreement aims to enhance trade relations, offering opportunities in agriculture, manufacturing, technology exchange, and investment. The FTA is seen as a pivotal step for Iran’s economy, potentially leading to job creation and economic stability, while positioning Iran favorably within the regional economic landscape.
Iran Sees Jet Fuel Consumption Surge by Over 6% Year-on-Year Through March
Iran’s civil aviation sector is showing resilience despite ongoing international sanctions, as reported by the head of the Aviation Refueling Department. In the year leading up to March 20, over 1.572 billion liters of jet fuel were supplied, an increase of nearly 100 million liters from the previous year, supporting 212,886 flights. Daily fuel consumption rose by 250,000 liters to approximately 4.308 million. However, the Iranian government plans to end subsidies for jet fuel to save nearly $1 billion annually, raising concerns about potential cost increases for airlines and passengers. Despite challenges, demand for air travel in Iran remains strong.
De-Dollarization Momentum Surges Amidst Trump’s Opposition: What It Means for the Global Economy
President Trump has warned of potential 100% tariffs on BRICS countries if they consider replacing the US dollar with a common currency, raising global tensions. The Kremlin dismissed the threat, stating there are no plans for such a currency. Experts suggest Trump’s rhetoric aims to bolster domestic confidence rather than pose a real threat. Additionally, Trump signed an executive order banning Central Bank Digital Currencies (CBDCs) in the US, signaling potential actions against other nations pursuing their own. Over 134 countries, representing 98% of global GDP, are exploring digital currencies, indicating a significant shift in the financial landscape and diminishing trust in the dollar.
