South Korea’s Prime Minister Chung Sye-kyun said Monday South Korea should "quickly" return $7 billion in frozen funds to Iran in the latest diplomatic gesture to resolve the impasse between the two sides.
Iran’s Energy Ministry has revised its electricity pricing rules for cryptocurrency mining months after rising demand from miners caused power shortages in parts of the country over a cold winter season.
Grand Bazaar of Tehran, a major hub for the country’s economy, has been closed for two weeks following the sharp rise in the number of COVID-19 cases across Iran.
Iran reported 258 deaths from COVID-19 in the past 24 hours, the health ministry said on Sunday, the highest daily toll since early December, Reuters reported.
A memorandum of understanding has been signed between Iran and the neighboring Afghanistan for the construction of a border bridge to facilitate trade interactions between the two sides.
The International Monetary Fund expects Iran’s economy to grow by 2.5% in 2021.
Tehran has been put under a partial lockdown that would last for two weeks amid a fresh surge in cases of the coronavirus.
South Korean Prime Minister Chung Sye-Kyun will pay an official visit to Tehran to discuss bilateral issues, particularly the release of billions of dollars of Iranian funds frozen by Seoul as a result of US sanctions.
Iran has shattered its daily record for new coronavirus infections for the second consecutive day, with 20,954 new cases reported on Wednesday.
Iran’s Energy Ministry says electricity production capacity in the country rose by 2.2 percent in the year to late March to reach a total of 85.313 gigawatts (GW).