Iran defies sanctions with rising oil production over past year
Iran has increased its crude oil production by over 120,000 barrels per day in the past year, despite sanctions and economic pressures.

Iran has increased its crude oil production by over 120,000 barrels per day in the past year, despite sanctions and economic pressures.
Sulfur production at Iran’s South Pars Gas Complex has jumped nearly 50 percent following major upgrades, boosting daily output to about 100 tons.
Azerbaijan has installed over 109,000 new-generation control cash registers (CCRs) across the country, enhancing transparency and preventing illegal trade.
Approximately 110,000 passenger cars were transited through Iran’s Lenge Port during the first half of the year, mainly heading to Iraq, Afghanistan, and Central Asia. Overall cargo handling at western Hormuzgan ports reached about 6.7 million tons, marking an 8% increase from last year.
Khuzestan province in southwestern Iran attracted around $7 million in foreign investment in the oil, industry, and services sectors during the first half of the Iranian year, contributing to a total of roughly $640 million in foreign investment across the region.
Remittances from Azerbaijan to Latvia surged to around $2.1 million in the first half of the year, up roughly 70% from last year, while inflows from Latvia to Azerbaijan rose to about $3.1 million, a 23% increase.
In the first half of the current Iranian year (March 21 – September 22, 2025), South Pars Gas Company produced over 2. 15 million tons of ethane. This marks a 7. 5% increase compared to the same period last year.
Trade through Iran’s Kurdistan province customs reached about $3.3 billion, with exports of roughly $380 million and 800,000 tons, reflecting moderate growth compared to last year.
Iran’s South Khorasan Province boosted exports to about $430 million in the first half of the year, marking double-digit growth in both value and volume.
Average gross earnings in July rose slightly from June, driven by growth in real estate and health sectors, while net pay saw a modest decline. Year-on-year, salaries continued to increase, with the highest earnings recorded in healthcare and social work.
Credit investments in Azerbaijan’s transport and communications sector rose by over 12 percent, reaching nearly 1.9 billion manat as of early September, according to the Central Bank.
Iran has resumed electricity exports to Pakistan and Afghanistan, supplying about 150 megawatts, while continuing to import roughly 450 megawatts from Turkmenistan and Armenia, according to the country’s power authority.
Iran’s new Bahar Azadi gold coin sold for 1.14 billion rials ($1,971) on October 4, down from 1.16 billion rials ($2,006).
Uzbekistan and Kazakhstan are actively working to deepen their economic partnership. During a high-level meeting in Tashkent, officials discussed expanding trade and collaboration across key industries, with plans to boost bilateral trade to $10 billion.
Azerbaijan’s insurance companies made 603 million manat ($355 million) in payouts from January to August 2025, up 21.7% from the same period in 2024.
The circulation speed of Azerbaijan’s national currency, the manat, has fallen to 3.4 points, showing a slight decline from both last month and the same period last year. Over the past two decades, the manat’s velocity has fluctuated widely, with historical highs around 16 points and lows near 3 points.
As of September 1, 2025, Azerbaijan's broad money supply (M3) reached 47. 767 billion manat ($28. 16 billion), up 0. 2 percent from the previous month. The manat money supply (M2) increased by 0. 4 percent to 36.
The quality of the loan portfolio in Azerbaijan’s non-banking financial institution (NBFI) sector worsened, with non-performing loans rising to around 129 million manat, pushing the NPL ratio to nearly 16%.
Azerbaijan’s non-bank credit institution (NBCI) sector saw its total assets shrink by around 30 million manat to 963 million manat in the first half of the year, mainly due to a drop in net loans.
Azerbaijan’s banking sector is facing rising funding and non-interest costs, with interest expenses reaching around 855 million manat and non-interest expenses climbing to about 1.5 billion manat.
Personal remittances from Azerbaijan to Portugal rose sharply to around $790,000 in the first half of the year, marking a 53% increase from last year. Overall, total outbound remittances from Azerbaijan fell slightly to about $238 million, while inflows to the country dropped to roughly $534 million.
In August, MasterCard transactions in Azerbaijan using resident-issued cards surged to nearly 75 million, totaling around 4.8 billion manat, marking strong month-on-month growth.
Dollarization in Azerbaijan’s banking sector loan portfolio dropped to a historic low of about 15 percent in the first half of 2025.
In the first half of this year, Azerbaijani banks wrote off nearly 57 million manat in loans, most of which were from consumer lending. Non-performing loans in the business portfolio climbed to about 430 million manat, with the rise largely driven by the construction sector and individual borrowers.
East Azerbaijan Province exported 1.63 million tons of products worth $854 million from March 21 to September 22, 2025. Major exports included $311 million to T
East Azerbaijan Province imported 223,000 tons of products worth about $638 million from March 21 to September 22, 2025. Key import sources included T
Electricity production by Iran’s thermal power plants rose by 4%, surpassing 211 billion kilowatt-hours in March–September 2025. The current generation capacity of the plants exceeds 78,000 megawatts, with 3,200 megawatts added over the past year.
Uzbekistan’s economy showed strong financial momentum in the first half of 2025, with rising external debt, trade growth, and foreign investment inflows. Key indicators, including exports, imports, and international remittances, reflect a strengthening international position and growing investor confidence in the country
The number of MasterCard payment cards in circulation in Kazakhstan rose sharply to 14.9 million as of September 1, 2025, compared to a year earlier, according to data from the National Bank of Kazakhstan.
Mellat Insurance Company of Iran reported collecting about $180 million in premiums during the first half of the current Iranian year, with nearly half of the total coming from the healthcare sector.
Exports through the Caspian port of Gilan Province rose by 289% in the first half of 2025. Over 172,000 tons were shipped, and the number of export ships grew to 88. Imports also increased by 6%, including a 41% rise in crude oil.
The official highlighted that future opportunities for Austrian businesses in Turkmenistan are diverse.
Uzbekistan continues to prioritize economic stability, with monetary and fiscal policies aimed at controlling inflation and supporting sustainable growth. In the first half of 2025, strong revenue growth and strategic government spending highlight the country’s ongoing commitment to fiscal resilience and development
As of today, the Central Bank of Azerbaijan's foreign exchange reserves total $11.31 billion. This marks a 0.5% increase from September 1, 2025, and a 3.2% rise since the beginning of the year. However, reserves have decreased by 4.1% compared to the same time last year.
Strategically orchestrated infrastructural initiatives and regulatory transformations are anticipated to serve as the foundational bedrock for sustainable advancement.
Qom Province’s exports reached around $100 million, totaling roughly 84,000 tons, marking a 10 percent increase from last year. The province’s high-quality industrial products and growing industrial activity support its competitiveness in international markets
Inflation in Georgia remained contained in the first half of 2025, supported by lower global fuel prices, a stronger lari, and prudent fiscal management, the Asian Development Bank (ADB) said.
Iran's Day Bank saw its income from loan issuance soar nearly fourfold during the first half of the Iranian year, reaching around $75 million. This significant growth highlights the bank's expanding lending operations and rising profitability.
Credit to startups in Iran surged last month, reaching around $1 billion for more than 1,150 companies, up sharply from about $540 million during the same period last year. State and non-state banks contributed to this growth, while total lending to startups over the first five months exceeded $2 billion.
The bank has adjusted its inflation forecasts, attributing the revisions to persistent upward pressures stemming from escalating utility expenses and volatile currency dynamics.
Hydrocarbon sales on the Iranian Energy Exchange rose by 6 percent in value and weight in the sixth month of 2025. The total value reached 289 trillion rials ($492 million) for 801,000 tons. This is up from 270 trillion rials ($460 million) for 756,000 tons in the fifth month.
As of September 1, 2025, Azerbaijan’s banking assets were 55. 67 billion manat ($29. 37 billion), up 6. 1 billion manat ($3. 22 billion) from last year. Liabilities grew to 48. 6 billion manat ($25.
Iran’s new Bahar Azadi gold coin saw its price rise to roughly $1,880, while the older version sold for about $1,770, reflecting ongoing fluctuations under the Central Bank’s floating exchange rate system.
Kazakhstan’s Ministry of Energy is boosting local content in subsoil user procurements through long-term contracts with domestic manufacturers. Since mid-2024, contracts worth billions of tenge have been signed, increasing private sector involvement.
Cargo traffic through Iranian airports fell sharply during the first five months of the current Iranian year, dropping by around 18 percent to roughly 27,000 tons compared to 33,000 tons in the same period last year.
Iran’s point-to-point inflation rose 45. 3% in the sixth month of the current fiscal year compared to the same period last year. The increase was especially sharp for food, beverages, and tobacco at 57.
A new non-alcoholic beverage factory will be built in Kazakhstan’s Almaty region with an investment of 216.3 billion tenge ($389 million). The project, a partnership between the government and Carlsberg Central Asia, aims to produce 340 million liters annually, boost local raw material use, create over 230 jobs, and increase exports.
Iran’s oil and gas sector posted modest growth in GDP during the first quarter of the current Iranian year, reaching nearly $11 billion, up slightly from last year. Despite this increase, overall GDP measured by crude oil value slipped by 0.
Two licorice-derived products were presented by the Ministry of Health and Medical Industry of Turkmenistan.
Tender proposals must be submitted in a sealed envelope, certified with a mastic seal, and include an electronic version of the questionnaire, the main contract terms (Word format), and technical-economic specification (Excel format).
By the end of 2025, the country’s total installed generating capacity is expected to reach 28 GW, the Ministry of Energy reported.
Recent data shows that AI chatbots are increasingly used in Azerbaijan, with OpenAI’s ChatGPT capturing the largest share of the market.
Shell’s integrated gas production rose to 934 thousand barrels of oil equivalent per day (kboe/d) in the third quarter of 2025, up from 913 kboe/d in the previous quarter.
Shell’s integrated gas segment reported adjusted earnings of $2.1 billion in the third quarter of 2025, up from $1.7 billion in the previous quarter.
ExxonMobil reported higher energy products earnings for the third quarter of 2025, supported by stronger industry refining margins, record refinery throughput, and ongoing cost efficiencies.
Loan investments in Azerbaijan’s transport and communications sector by banks and non-bank institutions totaled 2. 09 billion manat ($1. 2 billion) as of October 1, 2025. This marks a monthly increase of 172.
The incremental expansion of Turkmenistan’s private sector is creating novel opportunities for synergistic engagement with German enterprises.
Chevron’s international downstream segment reported improved results in the third quarter of 2025, supported by favorable foreign currency movements despite lower margins on refined products.
Azerbaijan’s revenue from carbamide exports surged to around 130 million US dollars in the first nine months of the year, marking a nearly 50 percent increase compared to last year.
TotalEnergies' Q4 divestments are projected at around $2 billion, including the closing of exploration & production assets in Nigeria and Norway, as well as farm-downs of renewable projects in North America and Greece for Integrated Power.
As of the end of September, Azerbaijan saw a decline in the number of transactions with local cards, with a slight change in their total volume.
As of October 1, 2025, loans issued to medium-sized enterprises in Azerbaijan reached 2.25 billion manat, marking a 5.3% monthly increase and a 28.6% rise year-on-year.
Uzbekistan and Serbia strengthened their economic partnership in 2025, with bilateral trade rising 2.5% and expanded investment cooperation highlighted during high-level visits, a business forum, and new joint initiatives.
As of October 1, Azerbaijan’s state-guaranteed debt was 10. 686 billion manat ($6. 30 billion), or 8. 2 percent of GDP. External loans accounted for 9. 024 billion manat ($5. 31 billion), domestic loans 1.
As of October 1, loans in Azerbaijan’s Karabakh region totaled 519. 9 million manat (about $305. 7 million) and in East Zangazur 22. 3 million manat (about $13. 1 million). The average interest rates were 19.
Uzbekistan’s trade relations with India continued to gain momentum in 2025, with bilateral turnover showing strong and sustained growth.
The cost of food and drink has been the thorn in Georgia's side, with prices for a wide array of food items climbing higher than a kite, overshadowing the more tempered hikes seen in booze and smokes.
Uzbekistan has invested billions in water-saving technologies and infrastructure, aiming to boost irrigation efficiency and secure agricultural growth amid shrinking water resources.
The Baku Stock Exchange (BSE) has published the turnover rankings of investment companies for 2025. According to the data, PASHA Kapital Investment Company is at the top of the heap, closely followed by ABB Invest and CPM-Invest, highlighting the competitive dynamics within Azerbaijan's investment industry.
Kyrgyzstan is expanding farmer service centers and pilot programs to enhance productivity, strengthen agricultural value chains, and improve market access for rural producers.
Higher construction costs are already "baking in" future price increases for the Georgian housing market.
Trade between China and the United Kingdom recorded an increase in 2025 compared to the previous year. The figures point to changes in import and export dynamics between the two countries.
Uzbekistan’s international reserves rose sharply at the start of 2026, driven by higher foreign currency assets and continued accumulation of official reserve holdings.
Over the 11-month period, the top 5 countries still account for about 30%, showing exports are spread across many countries.
Global cryptocurrency markets recorded moderate gains over the past week, with Bitcoin rising to about $90 and Ethereum climbing to roughly $3,100, according to data.