Iran says IS Resurgence could Hamper Iraq Oil Deal

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News. The Islamic State (IS) appears to be staging a comeback in parts of Iraq, which could endanger the country’s oil deal with Iran. Hamid Hosseini, the Iranian secretary-general of […]

Tehran-Ashgabat Business Forum slated for Late March

Iran and Turkmenistan are planned to hold a joint business forum in Ashgabat in late March, a report said. According to the report carried by the official website of Iran Chamber of Commerce, Industries, Mines and Agriculture, Iranian and Turkmen traders will participate in the joint forum. It will be held concurrent with Iranian President […]

Iran’s Agriculture Minister Survives Impeachment Vote

Iranian Agriculture Minister Mahmoud Hojjati on Wednesday joined his two comrades to survive a vote of no-confidence in the parliament. The agriculture minister was the third cabinet member to survive a no-confidence vote in the past two days. The agriculture minister took the podium in an open session of the parliament on Wednesday morning to […]

Russian Firm to Invest $740m in Iranian Oil Fields

Russia’s state-controlled Zarubezhneft signed an agreement in Tehran on Wednesday to re-develop two oil fields in western Iran. It was the second post-sanctions oil contract awarded to Russia by Iran. Based on the agreement, the Russian firm would re-develop Aban and West Paydar oil fields. Both fields are located in areas bordering Iraq and are […]

Tillerson departure Threatens Iran Nuclear Deal

By John Lee. US President Donald Trump’s firing of Secretary of State Rex Tillerson may hasten the demise of the Iran nuclear deal, the Joint Comprehensive Plan of Action (JCPOA). Tillerson’s replacement, CIA chief Mike Pompeo, has expressed hawkish views on Iran and the nuclear deal. Trump delivered an ultimatum to European powers in January, […]

Apple blocks App Store in Iran

By John Lee. Apple iPhone users in Iran are no longer able to access the App Store, according to media reports. The Verge reports that while the company doesn’t sell devices or operate the App Store in Iran, Iranians were able to import Apple products from other counties and set them up to access portions […]

Gas Executive becomes UK Ambassador to Iran

Mr Rob Macaire CMG has been appointed as the UK’s Ambassador to the Islamic Republic of Iran in succession to Mr Nicholas Hopton, who will be transferring to another Diplomatic Service appointment. Mr Macaire will take up his appointment in April 2018. Mr Macaire rejoins the diplomatic service following five years as Director of Government/Public […]

Iran, Serbia resume Direct Flights after 27 Years

After a gap of 27 years, direct flights between Iran and Serbia resumed Saturday, when an IranAir jet touched down at Belgrade’s Nikola Tesla airport, Serbian media reported. IranAir is offering a direct service between Tehran and Belgrade twice weekly, with all flights fully booked until the end of the summer, the reports said, according […]

IKCO to supply Nigerian Taxi Fleet

Iran Khodro (IKCO) is to sell 310 IKCO Samand and Peugeot 405 cars to supply Nigerian taxi fleet. “Since Nigeria is developing economically, IKCO can win a good share of its car market by dispatching its products to this country,” said Hassan Golchubian, IKCO Export Director for the Middle East and Africa. Given the fact […]

Poorest Citizens still waiting for some semblance of Parity

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s poorest citizens still waiting for some semblance of parity after 39 years When the 1979 Islamic Revolution in Iran took place, its overriding objective was social justice achieved through helping the poor and ensuring political freedom. However, after almost […]

Iran “Likely to Join EEU in May”

The Eurasian Economic Union (EEU) could welcome Iran as a new member in May, Russia’s Energy Minister Alexander Novak said. “The move to enter into a temporary agreement making for a free trade zone to be set up between Iran and the Eurasian Economic Union, which is currently at an advanced stage, will obviously trigger […]

Tehran, Moscow finalize Energy Cooperation MOU

The Memorandum of Understanding of the 14th Commission for Trade and Economic Cooperation of the Islamic Republic of Iran and the Russian Federation in the Oil and Gas Industries was set up in 38 articles. In the memorandum, the parties, while supporting the talks and agreements reached between the relevant ministries of the two countries, […]

Questions as Iranians claim US Licensing Plane Sales to Iran

By Saeed Jalili for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Questions abound as Iranians claim US Treasury licensing plane sales to Iran Questions have emerged about whether the US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued new licenses to Canadian plane manufacturer […]

FIFF to Launch Digital Encyclopedia on Iranian Cinema

FIFF 2018 to Launch Cicinema, New Digital Encyclopedia on Iranian Cinema The partnership of Fajr International Film Festival is aiming to launch the new website cicinema, The Digital Encyclopedia on Iranian Cinema, concurrent with the start of the 36th edition of FIFF in April. Stating the above, the creator of the website Iraj Taghipour said: […]

Free Trade Zones to Attract $4.5bn in FDI

The secretary of the Supreme Council of Iran’s Free Trade, Industrial and Special Economic Zones said the country has signed new contracts with foreign companies, attracting $4.5 billion worth of investment in free trade zones. “Investors from Turkey, China, Italy, France and South Korea have invested in (Iran’s) free zones…,” Morteza Bank said on Saturday. […]

Refinery sells Associated Gas

The 9th refinery of the South Pars Gas Complex (SPGC) has signed a contract with an Iranian buyer to sell gas it had previously been flaring. According to the National Iranian Gas Company (NIGC), the deal was signed with the aim of optimizing energy consumption in the refinery and preventing waste of gas and pollution […]

Iran, Azerbaijan Finalize 12 Agreements

Delegations from Iran and the Republic of Azerbaijan held a new session of a joint commission on mutual cooperation in Tehran, finalizing 12 agreements that the two sides had drafted in the past. The 12th meeting of Iran-Azerbaijan Intergovernmental Commission for Economic, Trade and Humanitarian Cooperation was held in Tehran on Tuesday, co-chaired by Iranian […]

NIOC Signs Research Deals with Iranian Universities

The National Iranian Oil Company (NIOC) has signed research contracts with 5 leading Iranian universities for expanding the petroleum industry’s scientific and technological bases in discovering hydrocarbon resources. The contracts were signed this morning (Monday, March 12), by NIOC Managing Director Ali Kardor and chancellors of the universities of Shahid Beheshti, Ferdowsi of Mashhad, Kharazmi, […]

Oil Exports in March Fall to Two-Year Low

Iran’s crude and condensate exports are set to fall to a two-year low this month as loadings for its main Asian buyers will tumble by one-third from the previous month, a report said. Global buyers are scheduled to lift 1.94 million barrels per day (bpd) of Iranian crude in March, down 21 percent from the […]

Finland, Denmark, Sweden agree deal with Iran’s IDRO

The ambassador of Finland to Tehran said Helsinki, Copenhagen and Stockholm have signed an agreement with Iran’s IDRO Group to improve cooperation in various fields, including oil and renewable energies. “Finland, Denmark and Sweden signed an MoU with IDRO of Iran to promote collaboration in in the fields of oil & gas, high-tech, transportation, renewable […]