Russian Shipbuilder wins $1bn Iran Oil Rig Deal

By John Lee. A Russian shipbuilder has reportedly been awarded a contract worth nearly $1 billion to build five offshore drilling rigs for use in Iranian waters. An official from Krasnye Barrikady told Reuters that the project, which was under discussion for almost two years, will be financed jointly by Russia and Iran. Iran will soon […]

IRGC Firm Ready for Caspian Water Transfer Project

Khatam al-Anbia Construction Base, a conglomerate belonging to the Islamic Revolution Guards Corps (IRGC), expressed readiness to embark on a project on channeling water from the Caspian Sea to the central parts of Iran. Speaking to the Tasnim News Agency on Wednesday, commander of the base General Ebadollah Abdollahi said plans for the giant water […]

Khalilzad Warns of Iranian Interference in Iraq

By John Lee. Former U.S. Ambassador to Iraq and Afghanistan, Zalmay Khalilzad, has said that Iraqi Shi’ite officials have complained of Iran’s interference in their country’s affairs, saying the militias backed by Tehran might turn against each other in the future over a dispute on oil. In an interview with Asharq Al-Awsat, he added: “[Iraqis] […]

US seizure of Iranian Assets may open Old Wounds

By Fereshteh Sadeghi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. More than a month after the US Supreme Court’s ruling that some $2 billion in offshore Iranian assets can be used to compensate families of victims of the 1983 bombing of the US Marines headquarters […]

German Firm Wins €2bn Petchem Contract

By John Lee. Iran has reportedly awarded a €2-billion contract for development of a petrochemical project in Masjed Soleiman to a German company. Abels Decker Kuhfuß Lenzen (ADKL) will cooperate with Masjed Soleiman Petrochemical Industries Company in providing the funds, transferring the technology and implementing contracts for the project within the framework of engineering, procurement, construction […]

Iran Dispatches First Gas Oil Cargo to Iraq

Iran dispatched the first cargo of its gas oil to Iraq’s Kurdistan region on Wednesday, Alireza Ashnagar Iran’s Kordestan province deputy governor general for political, security and social affairs said. He noted that 290,000 liter of gas oil were sent by 10 tankers to the Iraqi Kurdistan region in a bid to enhance living conditi​on […]

Deutsche Bank Says Still ‘Cautious’ in Trade with Iran

A senior official with Germany’s Deutsche Bank said the transaction bank will remain tentative in its financing business with Iran despite the removal of anti-Tehran sanctions. “We remain extremely reserved when it comes to Iran,” said Werner Steinmueller, the head of Deutsche Bank’s Global Transaction Banking unit, referring to the difficulties in working with Iranian […]

Has the Iran-Saudi Cyberwar already started?

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Numerous Iranian media outlets reported May 25 that the website The Statistical Center of Iran (pictured) was hacked and temporarily put out of use. News agencies wrote that the hackers were “outside of Iran” […]

Full List of MoUs signed between India and Iran

Full list of memoranda of understanding signed during the visit of the Indian Prime Minister to Iran: Title of MoU Description Signatory from Indian side Signatory from Iran side 1. India-Iran Cultural Exchange Programme The objective is to extend the CEP for the period 2016-2019 covering the areas of culture and art; radio, TV, mass […]

Iraq to Remove Ban on Iranian Cement

By John Lee. The secretary of Iran’s Cement Industry Employers Association has said that Iraq has promised to remove its ban on the import of Iranian cement. Fars news agency quotes Abdolreza Sheikhan as saying that following several meetings between Iranian and Iraqi officials, Baghdad promised to give priority to Iranian exports, once general ban […]