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A Liberian-flagged container vessel is docked along a pier at the Khor Fakkan Container Terminal along the Gulf of Oman on June 28.
A Liberian-flagged container vessel is docked along a pier at the Khor Fakkan Container Terminal along the Gulf of Oman on June 28.

live Iran’s Annual Inflation Rate Rises To 58 Percent

As the US-Israeli war with Iran continues to impact and shape the region, journalists from RFE/RL's Central Newsroom and Iranian service, Radio Farda, deliver ongoing updates and analysis.

Key Takeaways

  • US President Donald Trump said on June 29 that Iran had "requested a meeting" and that talks would take place the following day in Qatar's capital, Doha.
  • Iran's Deputy Foreign ⁠Minister ⁠Kazem Gharibabadi ‌said on June 29 that the technical working group was not scheduled to meet this week.
  • Oil prices rose again on June 29 after falling sharply last week and approaching pre-war levels amid renewed tensions in the Strait of Hormuz.
  • Maritime traffic in the Strait of Hormuz slowed sharply after attacks on ships over the weekend, including an attack on a Qatari tanker that prompted a US military response.
08:04 12.5.2026

US, UK, Australia Tighten Sanctions On Iran Over Oil Trade, Security Threats

The US Treasury Department has sanctioned 12 individuals and entities accused of helping the Islamic Revolutionary Guards Corps (IRGC) facilitate the sale and shipment of Iranian oil to China, as Washington intensifies its "maximum pressure" campaign against Tehran.

In a statement released on May 11, the Treasury said the measures are aimed at disrupting Iran's ability to generate, move, and repatriate funds used to support its weapons programs, terrorist proxies, and nuclear ambitions.

"As Iran's military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions," Treasury Secretary Scott Bessent said.

Bessent added that the Treasury "will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy."

Meanwhile, Australia announced on May 12 new targeted financial sanctions and travel bans against Iranian individuals and entities over what it described as the regime's ongoing brutal oppression of its people and destabilizing regional activities.

"In January, the Iranian regime massacred thousands of its own citizens and carried out mass arrests of peaceful protesters, torturing detainees, subjecting them to forced confessions and preventing them from communicating with loved ones," the Australian government said in a statement released on May 12.

"The seven individuals and four entities sanctioned today include senior officials and entities involved in these horrific acts, including violence against women and children," it added.

The move came alongside fresh sanctions imposed by the United Kingdom targeting organizations and individuals accused of enabling hostile Iranian activities and overseas criminal operations.

The UK Foreign Office said the measures respond to Iran's action against "global security and its use of criminal gangs to carry out threats overseas."

"Criminal proxies backed by parts of the Iranian regime who threaten security in the UK and Europe will not be tolerated, nor will illicit finance networks," British Foreign Secretary Yvette Cooper said.

The United Kingdom already has imposed more than 550 sanctions on Iranian individuals and organizations, including the entirety of the IRGC and over 90 sanctions in response to human rights violations.


11:55

US Homeland Security Secretary Says He Did 'Happy Dance' After Iran Exit

US Homeland Security Secretary Markwayne Mullin
US Homeland Security Secretary Markwayne Mullin

US Homeland Security Secretary Markwayne Mullin said he did a "happy dance" after Iran was eliminated from the 2026 FIFA World Cup, according to Sports Business Journal, saying he was "so glad they're gone" following the team's group-stage exit.

Sports Business Journal reported that Mullin made the remarks during a World Cup security briefing in Washington, saying he was "very happy they're going back because there wasn't a single team that we dealt with more than them." He later added: "I was so happy when we were able to pull their visas and said they could leave the US soil."

Iran narrowly missed out on the knockout stage after drawing all three Group G matches and finishing as the ninth-best third-placed team.

Mullin said "almost half" of Iran's delegation had ties to the Islamic Revolutionary Guards Corps (IRGC), an elite branch of Iran's military designated a terrorist organization by the United States. The Iranian Football Federation denied the allegation, saying it was "completely unsupported by any evidence."

The United States had imposed strict travel restrictions on the Iranian squad during the tournament. a move Iran coach Amir Ghalenoei criticized, saying his team had been treated "very unfairly."

Pre-Revolutionary Flags Fly At Iran's World Cup Opener, Defying FIFA Ban Pre-Revolutionary Flags Fly At Iran's World Cup Opener, Defying FIFA Ban
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11:23

Pezeshkian Says Iran-US Deal Agreed In 'Full Coordination' With Khamenei

Iranian President Masud Pezeshkian (center)
Iranian President Masud Pezeshkian (center)

Iranian President Masud Pezeshkian has accused domestic opponents of the Iran-US framework agreement of "aligning with the operations of hostile media" and said that "all stages of the negotiations" were carried out in "full and continuous coordination" with the Islamic republic's supreme leader.

Speaking on June 30, during a meeting with members of the Society of Seminary Teachers of Qom, a conservative clerical body, Pezeshkian also said that "despite existing security restrictions and considerations, the final text of the agreement was evaluated by the relevant authorities after expert and security reviews, and also received the strong support of members of the Supreme National Security Council."

This comes as opposition to the memorandum of understanding between the US and Iran has grown in recent days among some pro-establishment political factions.

They say the government, the head of the negotiating delegation, Mohammad Baqer Qalibaf, and even some senior commanders of the Islamic Revolutionary Guards Corps approved and advanced the memorandum against Supreme Leader Mojtaba Khamenei's position.

Pezeshkian described these opponents as "groups aligned with the psychological operations of hostile media" and said "they are trying, by attacking the negotiating team and questioning national decisions, to create the conditions for weakening this achievement."

In the latest example of opposition, nearly three-quarters of members of the Assembly of Experts, the clerical body responsible for appointing and overseeing Iran's supreme leader, signed a statement calling the reopening of the Strait of Hormuz "contrary to officials' commitments and a strategic mistake" -- a statement that immediately drew a negative response from the assembly's secretariat.

Eight of the 12 people present at Pezeshkian's meeting with the Society of Seminary Teachers of Qom are members of the Assembly of Experts.

With reporting by RFE/RL's Radio Farda
07:46

Two Revolutionary Guards Killed In Armed Attack In Western Iran

Iran's Islamic Revolutionary Guards Corps (IRGC) said that two of its members were killed and two wounded after being attacked by armed individuals on the evening of June 29.

Citing the IRGC's public relations office in Kermanshah Province, the state run Mehr news agency reported that the attack took place outside the homes of two IRGC members in Paveh County. The report described the attackers as "armed terrorists."

Official sources identified the two IRGC members who were killed as Borhan Krisani and Khaled Khaledi.

At the same time, the human rights organization Hengaw reported that a newly formed group called Khori Hiva ("Sun of Hope") claimed responsibility for the attack.

Hengaw also identified the two deceased as Khaled Khaledi and Borhan Krisani, and reported that two other IRGC members were seriously wounded.

Kermanshah Province, in western Iran near the Iraqi border, is home to a large ethnic Kurdish population and has long been a flashpoint for tensions between Iranian security forces and Kurdish opposition groups.

With reporting by RFE/RL's Radio Farda
19:01 29.6.2026

Iran’s Annual Inflation Rate Rises To 58 Percent

The annual rate of inflation in Iran rose to around 58 percent year-on-year in June, according to the country’s Central Bank.

In a report issued on June 29, the Central Bank also said the consumer price index for goods and services recorded a monthly increase of over 7 percent.

The price of food, beverages, and tobacco in the country of around 90 million jumped about 130 percent in May, according to the Statistics Center of Iran.

The International Monetary Fund (IMF) projects Iran's overall inflation will hit nearly 69 percent in 2026. That would be the highest since the Islamic Revolution in 1979.

For years, Iran’s economy has been crushed by crippling US sanctions and government mismanagement.

The United States and Israel’s war against Iran deepened the economic crisis in the country. The war destroyed or damaged Iran’s key infrastructure and industries, disrupting domestic production and hiking prices for basic food items.

A US naval blockade on Iranian ports and vessels disrupted Iran's oil exports, the lifeline of its economy. Meanwhile, Iran’s decision to shut down the Internet for months hurt many businesses and professionals.

As part of the interim deal signed by Tehran and Washington on June 17, the United States ended its naval blockade and issued a 60-day waiver allowing Iran to sell its oil on the international market.

17:18 29.6.2026

Traffic In Strait Of Hormuz Drops Sharply

Maritime traffic in the Strait of Hormuz, a key artery for global oil and gas supplies, slowed sharply after attacks on ships over the weekend, including an attack on a Qatari tanker that prompted a US military response.

According to data from the maritime tracking firm Kpler, 29 commodity vessels crossed the waterway on June 27 and 12 transited on June 28.

That marked a significant drop from last week, when Iran and the United States signed a memorandum of understanding that reopened the critical waterway for international shipping.

On June 24, there were 70 crossings, the highest number since the United States and Israel launched a war against Iran on February 28.

In response to the war, Tehran effectively closed the Strait of Hormuz, a move that sent international oil and gas prices soaring and upended the global economy.

14:29 29.6.2026

Trump Says Talks On Track For Doha Despite Iran's Denial

US President Donald Trump said on June 29 that Iran had "requested a meeting" and that talks would take place the following day in Qatar's capital, Doha.

His post on social media came hours after an Iranian official had denied that technical talks -- the next step in the framework to reach an end to the war -- were scheduled to be held this week, despite claims by US officials.

The United States and Iran traded tit-for-tat strikes over the weekend in a re-escalation of tensions.

"Iran has requested a meeting. It will take place tomorrow in Doha!" Trump wrote on Truth Social.

Iran's Deputy Foreign Minister Kazem Gharibabadi ‌said earlier on June 29 that the technical working group was not scheduled to meet this week.

To read the full report, click here.

12:53 29.6.2026

Iran Denies Technical Talks Taking Place This Week

An Iranian official said that no technical talks are being held this week with the United States, despite earlier reports saying the two sides would meet in the coming days.

Deputy Foreign ⁠Minister ⁠Kazem Gharibabadi ‌said on June 29 that the technical working group was not scheduled to meet this week, Iran's Tasnim news agency reported.

"Although consultations with Qatar, including regarding the follow-up on the implementation of the other party's commitments, are ongoing as usual, the news from some media outlets that technical talks by working groups are being held in Doha cannot be confirmed," Gharibabadi told reporters.

He added that the first round of technical talks will be held within the framework of the designated working groups once conditions are in place and after an agreement is reached on the date and location, and that consultations in this regard are continuing through intermediary countries.

Earlier reports had indicated that Iranian and US technical teams would be meeting in the coming days to work on implementing the memorandum of understanding.

A US official told RFE/RL late on June 28 that "technical talks are slated to continue on all areas."

"Both sides will stand down for now, and vessels can move freely [through the strait]," the official said.

Axios, also citing a US official, reported the two sides plan ⁠to meet on June 30 in the Qatari capital, Doha.

Gharibabadi also said consultations ‌between Iran and Qatar regarding ⁠the US ‌commitments were continuing as planned but that technical working group talks in Doha had not been confirmed.

12:16 29.6.2026

Oil Prices Rise After US, Iran Exchange Strikes

Oil tankers sail off the coast of Kuwait City on June 27.
Oil tankers sail off the coast of Kuwait City on June 27.

Oil prices rose again on June 29 after falling sharply last week and approaching pre-war levels amid renewed tensions in the Strait of Hormuz.

Oil prices rose after days of US and Iranian attacks that have again slowed energy shipments through the Strait of Hormuz.

Brent crude was reportedly at around $72.57 a barrel early on June 29, while US crude was at $70.11 a barrel. Brent crude had fallen more than 4 percent to $71.99 a barrel and US crude was at $69.23 a barrel on June 26.

Traffic in the waterway slowed sharply after fresh attacks on ships in the Strait of Hormuz, including an attack on a Qatari tanker that prompted a US response and marked the worst escalation of tensions since the signing of an interim peace deal.

11:08 29.6.2026

Israel Reports Spike In Cyberattacks From Iran

A senior Israeli security official announced on June 29 that there has been a sharp increase in cyberattacks attributed to Iran targeting Israel.

Yossi Karadi, director-general of Israel's National Cyber Authority, told the German newspaper Die Welt that last June -- at the time of Israel's military operation against Iran -- the country's authorities recorded around 1,600 hostile cyber incidents.

This month, that number increased to about 4,800 cases so far.

(illustration)
(illustration)

"Some of these groups are very skilled. We can confront them, but we have to take them seriously. Unlike in the military arena, there is no cease-fire in cyberspace," Karadi said.

He explained that the attacks targeted systems used in Israel's critical infrastructure, central institutions, small and midsize companies, as well as the general public, citing law and accounting firms as examples of smaller targets.

The Israeli official added that "so far, and I hope it stays that way, we have been able to repel attacks on critical infrastructure."

Karadi also said some companies had their computer systems completely wiped.

Iran typically denies carrying out cyberattacks against other countries.

10:50 29.6.2026

Pezeshkian Says $6 Billion In Iranian Assets To Be Released

Iranian President Masud Pezeshkian announced that $6 billion of Iranian assets currently being held in Qatar will be returned to Tehran.

"Based on the plans made, $6 billion out of the total $12 billion of Iranian resources in Qatar will be released and returned to the country," he said on June 29.

"The necessary follow-up is being carried out to return the remaining part of these resources," he added.

The Iranian president did not announce a timeline for the release, and his comments could be aimed toward convincing Iranians of the merits of the interim deal.

Under the recent agreement between Iran and the United States to begin negotiations to end the war, Washington committed to releasing all of Iran's frozen or restricted financial resources and assets. The procedures for this are to be agreed upon during 60 days of negotiations between the two countries.

To date, US officials say no frozen Iranian assets have been released.

US President Donald Trump has previously suggested that released Iranian assets could be used to purchase agricultural and food products from the United States.

Iranian media and officials rejected these statements, saying they have no obligation to use the released resources. Abdolnaser Hemmati, governor of the Central Bank of Iran, said that "based on the signed notes, we have no obligation to purchase agricultural inputs from the United States."

He added: "Of course, if the price and quality of American inputs are more suitable compared to other countries, we have no obstacle to buying from that country.”

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