TEHRAN: Iran launched three domestically built observation satellites into space from Russia on Sunday, state television reported, marking a new step for Tehran’s space program despite Western sanctions.
The country maintains that its aerospace industry is peaceful and complies with UN Security Council resolutions imposed over its nuclear program.
“Three Iranian satellites, Zafar-2, Paya and Kowsar 1.5, were launched into space by a Soyuz rocket from the Vostochny Cosmodrome in Russia,” Iranian television reported.
The satellites were to be used for “observation” and were designed by “the private sector,” the official IRNA news agency said.
Paya is Iran’s most advanced domestically produced imaging satellite, using artificial intelligence to improve image resolution, IRNA said.
It said the satellite would focus on water resource management, environmental monitoring and mapping.
The Russian Soyuz launcher was chosen because it is one of the most reliable in the world for transporting sensitive satellites, according to the Fars news agency.
Iran has carried out 10 satellite launches in the last two years, including one in July from the same launch site in Russia.
Western countries fear that these satellite launch systems incorporate technologies interchangeable with those used in ballistic missiles, potentially capable of carrying a nuclear warhead.
Tehran denies those accusations and refutes that it is trying to acquire nuclear weapons.
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Iran launches three satellites into space from Russia
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Iran launches three satellites into space from Russia
- Domestically built observation satellites marks new step for Tehran’s space program despite Western sanctions
Turkiye to forge on with tight economic policy, some fine-tuning, VP Yilmaz says
ISTANBUL: Turkiye is committed to carrying on its tight economic policies in order to cool inflation, and though it may fine-tune the program it will not change course, Vice President Cevdet Yilmaz said in comments embargoed to Friday.
“There is no plan to pause our program,” Yilmaz said at a briefing with reporters in Istanbul on Thursday. “All programs are dynamic, and adjustments can always be made.”
Yilmaz, who plays a key role overseeing economic policy at the presidency, said any such adjustments would aim to support production, investment and exports while moderating consumption.
Turkiye has pursued tight monetary and fiscal policies for more than two years in order to reduce price pressure, leading to high financing and borrowing costs that have weighed on businesses and households. Inflation has eased slowly but steadily over the last year but remains elevated at 31 percent annually.
Last month, Is Bank CEO Hakan Aran warned that focusing solely on one target — inflation — could create side effects, suggesting a “pause and restart” might be healthy once the program achieves certain targets.
Yılmaz said the government expects improvements in inflation in the first quarter, which should reflect to market expectations for year-end inflation around 23 percent. The government projects inflation to dip as far as 16 percent by year end, within a 13-19 percent range, and falling to 9 percent in 2027. The central bank forecasts inflation between 13-19 percent by end-2026.
Yilmaz noted inflation fell by nearly 45 points despite pressure from elevated food prices, hit by agricultural frost and drought.
The agricultural sector is expected to support growth and help ease price rises this year, which could help achieve official inflation targets, he said.
Yilmaz said the government wants to avoid a rapid drop in inflation that could hurt economic growth, jobs and social stability.
Turkiye’s economic program was established in 2023 after years of unorthodox easy money that aimed to stoke growth but that sent inflation soaring and the lira plunging. The program aims to dislodge high inflation expectations while boosting production and exports, in order to address long-standing current account deficits.
The central bank, having raised interest rates as high as 50 percent in 2024, eased policy through most of last year, bringing the key rate down to 38 percent.
Asked whether lower rates could trigger an exit from the lira currency, Yilmaz said: “What matters is real interest rates. Lowering rates as inflation falls does not affect real rates, so we do not expect such an impact.”
He added that the government will strengthen mechanisms that selectively support companies while improving overall financial conditions.
“There is no plan to pause our program,” Yilmaz said at a briefing with reporters in Istanbul on Thursday. “All programs are dynamic, and adjustments can always be made.”
Yilmaz, who plays a key role overseeing economic policy at the presidency, said any such adjustments would aim to support production, investment and exports while moderating consumption.
Turkiye has pursued tight monetary and fiscal policies for more than two years in order to reduce price pressure, leading to high financing and borrowing costs that have weighed on businesses and households. Inflation has eased slowly but steadily over the last year but remains elevated at 31 percent annually.
Last month, Is Bank CEO Hakan Aran warned that focusing solely on one target — inflation — could create side effects, suggesting a “pause and restart” might be healthy once the program achieves certain targets.
Yılmaz said the government expects improvements in inflation in the first quarter, which should reflect to market expectations for year-end inflation around 23 percent. The government projects inflation to dip as far as 16 percent by year end, within a 13-19 percent range, and falling to 9 percent in 2027. The central bank forecasts inflation between 13-19 percent by end-2026.
Yilmaz noted inflation fell by nearly 45 points despite pressure from elevated food prices, hit by agricultural frost and drought.
The agricultural sector is expected to support growth and help ease price rises this year, which could help achieve official inflation targets, he said.
Yilmaz said the government wants to avoid a rapid drop in inflation that could hurt economic growth, jobs and social stability.
Turkiye’s economic program was established in 2023 after years of unorthodox easy money that aimed to stoke growth but that sent inflation soaring and the lira plunging. The program aims to dislodge high inflation expectations while boosting production and exports, in order to address long-standing current account deficits.
The central bank, having raised interest rates as high as 50 percent in 2024, eased policy through most of last year, bringing the key rate down to 38 percent.
Asked whether lower rates could trigger an exit from the lira currency, Yilmaz said: “What matters is real interest rates. Lowering rates as inflation falls does not affect real rates, so we do not expect such an impact.”
He added that the government will strengthen mechanisms that selectively support companies while improving overall financial conditions.
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