Iraq on Wednesday unveiled an ambitious energy strategy that aims to see it raise $6 trillion from oil and gas sales by 2030 and massively increase local power generation, a major domestic complaint. The plan, dubbed the Integrated National Energy Strategy, would see Iraq invest some $620 billion in the sector over nearly two decades, in a bid to substantially increase living standards and employment levels in a country badly hit by decades of conflict and sanctions.

SEOUL, June 11 (Yonhap) -- South Korea on Tuesday announced a set of measures aimed at minimizing expected damages from renewed U.S. sanctions against Iran that are well expected to eat into the country's US$6-billion exports to the Middle East country. The country had significantly reduced the amount of crude oil it purchases from Iran, following the enactment of U.S. sanctions last year under the United States' National Defense Authorization Act.

Like many middle class Iranians, 55-year-old Maryam has seen the bright future she once envisioned for her family thwarted by the country's economic pains. Leaning over an elegantly framed photo of her four children, Maryam bemoans the missed opportunities and financial woes that have put an end to her plans. "Sometimes even thinking about the future is painful. So I just occupy myself with making the manteau," she said of her in-house tailor shop, where along with her 30-year-old daughter she makes Islamic-approved clothes for women that cover most of the body.

By Marcus George DUBAI (Reuters) - If there is an issue at the core of Iran's presidential election next month, it is whether the next president can jump start the economy and ease the deep financial pressures facing the majority of Iranians. Spiraling prices and constricted spending power have left millions of Iranians struggling against a virulent combination of Western economic sanctions and poor fiscal management.