Struggling under the weight of harsh international sanctions, the global oil price slump since mid-2014 has made Iran’s economic plight ever more desperate.

Iran this week raised domestic gasoline prices by 40%, and those for gas to households, commercial consumers and state-institutions by 15% as part of the cash-strapped government’s latest efforts to both ease pressure on the budget, and shore up the country’s strained public finances. (CONTINUED - 1409 WORDS)