Iran’s rial gains significant value against US dollar
The Iranian national currency, the rial, was 118,000 against the US dollar on Sunday which shows a relatively high regain of value compared to months of low that followed the American introduction of crippling economic sanctions against Tehran.
That came despite a serious flare-up of tensions in previous days in the Persian Gulf where the US said it had shot down an Iranian drone, a claim denied by Tehran, just before Iranian military forces boarded a UK tanker carrying oil in the Strait of Hormuz, reported Fars News Agency.
Normally, traders in Iran and neighboring countries had used such opportunities to increase the price of dollar against the rial, saying there might be a serious military confrontation between Iran and US-led forces in the region.
However, the rial began rebounding earlier this week after months of staying higher than 130,000 against the dollar.
That came after the Iranian government introduced measures to control the market, including forcing exporters to bring the currencies earned from trading with foreign customers to an integrated market inside Iran. That helped shorten the gap between various currency prices in the market and encouraged households to sell their currency savings.
The relative stability in the market also comes despite repeated claims in Washington that the tough sanctions introduced by US President Donald Trump since he withdrew last year from a 2015 Iran nuclear deal have seriously weakened the Iranian economy and led to general discontent among the public.
However, experts believe Iran is successfully emerging from the impacts of sanctions as the rial is recovering and the government has managed to control inflation and create more jobs over the past months.
They say that the failure of US sanctions against Iran also owes to the fact that they have not been fully observed by major international powers, including those who have signed the nuclear deal.
On Wednesday, the Iranian MP Mohammad Javad Jamali Nobandegani announced that the legislative body had received 13 draft bills of plans to counter the US unilateral sanctions against the country.
In May, Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati announced six new tactics of the monetary body to counter the negative measures of the US unilateral sanctions against Tehran.
In April, Iranian First Vice President Es’haq Jahangiri said that the plan by the administration of US President Donald Trump to reduce Iran’s oil exports to zero is doomed to fail because Americans ignore the country’s immense economic potentials.
Minister: Iran joins radar exporting club of nations
Roads and Urban Development Minister Mohammad Eslami said that Iran had developed its radar technology to the extent that it is turning into an exporter of such systems.
“We have powerful experts and new technology-based firms (NTBFs) in the field of airport and navigation systems and now our country is turning into a manufacturer and exporter of radar,” Eslami said on Sunday after participating in a ceremony to launch Koushk Bazm radar site, reported Fars News Agency.
The domestically-produced Iran air terminal radar named Koushk Bazm is one of the most advanced radars in the world and the second in the Middle East after Bandar Abbas radar.
It is equipped with the PSR radar system which can cover 120km and the MSSR system, with the ability to cover 400km. It will support the radars of Imam Khomeini and Mehrabad airports in Tehran.
Iran has also made progress in developing different types of defensive radars.
In a relevant development in March, the Iranian Army’s Khatam ul-Anbiya Air Defense Base unveiled two new indigenized state-of-the-art radar systems.
The radar systems, ‘Moein 40’ and ‘Nasser 40,’ which were built and put into action by experts at Khatam ul-Anbiya Air Defense Base, were unveiled in a ceremony attended by Commander of Khatam ul-Anbiya Air Defense Base Brigadier General Alireza Sabahi Fard and a number of other army commanders.
“Nasser 40” is a passive radar system capable of detecting targets in urban environments, which is developed by Khatam ul-Anbia Air Defense Base in cooperation with the Department of Science and Technology of the Iranian President’s Office. The radar has the capability to locate small flying objects and cruise missiles in urban environments and surrounding areas.
“Moein 40” is a navigating system which asks for information from the flying aircraft, not from the pilot, but from the aircraft system itself. The range of the radar is 400 kilometers, and the system meets the requirements of the International Civil Aviation Organization (ICAO) and is capable of detecting the geographical location of targets.
Moein has an altimeter to measure altitude and precisely locate targets, while it also has the capability to exchange targets and the exchange of information with other radar systems of the country. It could be used for both military and trade purposes.
Iran to produce 60k tons of cotton, output to surge by 15%: Official
Iranian authorities expect the output of cotton in farms across the country to increase by up to 15 percent by the end of the current Iranian year on March 20, 2020.
The official government contractor for cotton production said on Sunday that Iran’s annual output would increase this year to hit a target of 60,000 tons, over 350,000 bales, reported Press TV.
Ebrahim Hezarjaribi said the farms used to cultivate cotton in Iran had expanded by over 20 percent this year, adding that the surge in output and planting exceeded official government projections.
Hezarjaribi said the current output could satisfy almost half of the total demand for cotton in Iran’s textile industry, adding that plans were in place to reduce the country’s imports as major cotton producers in the world were shifting from export to processing industries.
He said that the government will resume the purchase of cotton produced by farmers across Iran this year at a competitive price of 31,620 rials (nearly $0.30) a kilogram.
The so-called “guaranteed purchase scheme,” implemented by Iran’s Agriculture Ministry for certain strategic crops and seeds, did not cover cotton last year as the demand in the domestic market was relatively high.
Hezarjaribi said to restore Iran’s position as a traditional cotton production hub, the country needed to change the methods used in cultivation and harvesting by introducing more mechanization in farms, especially in leading cotton-producing provinces like Khorasan Razavi, North Khorasan, South Khorasan, Golestan, Ardabil and Fars.
He said a main issue with such mechanization is the shortage of modern harvesting machines in Iran, an issue he said would be overcome in the near future through the import of combine harvesters.
Special plans devised to counter sanctions on Iran’s biotech industries: VP
Iranian Vice President for Science and Technology Affairs Sorena Sattari highlighted the country’s scientific progress and said special plans were devised to counter US sanctions against Iran’s biotechnology industries.
Speaking on the sidelines of a visit to a new technology-based company in the northern province of Alborz on Sunday, Sattari said that the Department of Science and Technology Affairs has special programs aimed at countering sanctions, particularly in the area of biotechnology, reported Tasnim News Agency.
Iran has progressed well in this area, turning into the top regional power in terms of biotechnology, he said, adding that in the near future, great support would be provided for domestically-made medicines and vaccines for the country’s livestock and poultry.
“We have great companies working in this sector and we hope that this new move in the field of livestock and poultry will make up for the country’s dependence on foreign medicines and vaccines,” he said.
In a ceremony earlier in the day, Sattari unveiled eight new advanced pharmaceutical products developed by Iranian scientists.
The products include medicines and pharmaceutical raw materials, such as microplates, omeprazole, tamsulosin hydrochloride, naltrexone base, sitagliptin phosphate, and pioglitazone in various sizes.
In a speech in February, Iranian President Hassan Rouhani said Iran exports drugs to neighboring and non-neighboring countries and even to Europe.
In November 2018, the Middle East’s biggest pharmaceutical factory specializing in the production of anticancer drugs was inaugurated in Iran.
As the US sanctions against Iran have made it difficult for the people of the country to have access to some medications such as anticancer drugs, the factory is providing a wide range of such medicines for patients.
Iranian experts have in recent years made great headway in using modern medical technology to cure a broad range of diseases inside the country, making Iran a top destination for medical tourism.
Mobile oil separator launched in South Yaran Field
A mobile oil separator (MOS) was launched in the South Yaran Oilfield on Sunday, according to a statement released by the Petroleum Engineering and Development Company (PEDEC).
Hamoun Kazemeini, the head of the South Yaran Oil Field Development Project, announced the launching of the MOS in the field, adding that according to studies on the maximum production of oil from the wells of this joint field, the use of this system was put on the agenda, Shana reported.
After installing the device in a safe place and ensuring connections, the flow of oil is directed to the MOS, and after hitting the distributing tray, the gas flows upwards and the oil downwards, and after the stabilization of the oil, the pump is set on and the oil level is tuned and controlled by an automatic valve, he said.
So far, the vetting of the companies providing this device (MOS) was carried out and the assessments are in their final stages by PEDEC.
According to Kazemeini, the companies providing these services are completely Iranian and have been visited by experienced technical and engineering teams.
Mobile oil separator (MOS) is a device for separating gas from crude oil and pumping it to the pipeline during the drilling, repairing, acidizing and testing of oil wells. As emphasized in its name, this device is mobile and it is possible to utilize it on any needed oil well and then easily transfer and install it on another one. It is composed of three units which are installed on trailers.
The onshore refining unit of Phase 14 of supergiant South Pars Gas Field will become operational by November, Shana reported.