German Energy Firms to Visit Iran Gas Show

Senior executives from German gas and energy companies are scheduled to visit the First Iran International Gas Show (IRGS 2018) to be held in Tehran in September. The companies are active in the fields of natural gas exploration, production, transportation, storage, marketing and other related services, and provide professional solutions to upstream and downstream projects, […]

Iraq to Reduce Visa Charges for Iranian Pilgrims

By John Lee. Iraq will reportedly reduce its visa charges for Iranian pilgrims later this year. According to the report from Associated Press, the reduction will only apply to pilgrims of the “Arbaeen,” the anniversary of the passage of 40 days after the death of Shiite Imam Hussein, the Prophet Muhammad’s grandson. Visas normally cost […]

Nestle to Remain in Iran despite US Sanctions

Nestle (NESN.S) sees no direct fallout from renewed US sanctions on Iran, the world’s biggest food company has said. “We continue to closely follow political developments regarding sanctions against Iran. There are no direct implications for our business at this stage,” it said in response to a query, Reuters reported. Nestle Iran has its headquarters […]

Iran Eyes Tripling Flights to Afghanistan

The Head of Iran’s Civil Aviation Organization (CAO) said the country has offered to triple the number of weekly flights to neighboring Afghanistan. According to Ali Abedzadeh, there are now nine direct flights a week between Iran and Afghanistan. Highlighting the need for more flights between the two neighbors, the official said Iran has proposed […]

China to US: Ties with Iran Transparent, Lawful

China’s business ties with Iran are open, transparent and lawful, its foreign ministry said on Wednesday, after US President Donald Trump said companies doing business with Iran would be barred from the United States. China has consistently opposed unilateral sanctions and “long-armed jurisdiction”, the ministry said in a statement faxed to Reuters. The United States […]

Oman, Switzerland Offer to Mediate between Iran, US

Iranian Foreign Minister Mohammad Javad Zarif confirmed that the country has received messages from Switzerland and Oman offering mediation between Tehran and Washington, but that no talks are currently underway between Iran and the US. “Of course, there are some messages from other countries to mediate (between Iran and the US),” Zarif said in an […]

OMV Calls for More EU Defense against Sanctions

The CEO of Austrian energy company OMV called on Europe’s politicians to do more to protect EU companies from the returning US sanctions against Tehran. “We are defending ourselves from these political threats whose only purpose is to distort the market in favor of more expensive products,” Rainer Seele told Bloomberg on Thursday. He added, […]

MAPNA Group Awarded Major Oil Projects

The National Iranian South Oil Company (NISOC) has signed a heads of agreement with MAPNA Group for the development of Parsi and Paranj [Karanj?] oilfields in the southwestern province of Khuzestan. The document was signed on Monday, August 6, by NIOSC CEO Bijan Alipour and Mojtaba Gharavi, director of MAPNA’s oil and gas section. MAPNA […]

Iran’s Central Bank Unveils New Regulatory Package

The Governor of the Central Bank of Iran unveiled a new package of regulations on foreign currency trade which lifts a ban on the activity of money exchange markets. Speaking at a television talk show on Sunday night, Abdolnasser Hemati said the new package has been endorsed by President Hassan Rouhani’s administration in order to […]

Sanctions Can Lead to Boost in Iran’s Economy: Larijani

Iranian Parliament Speaker Ali Larijani described Washington’s new sanctions against the Islamic Republic as an opportunity for “the internal renovation of the country’s economy”. In a speech on Monday night, Larijani pointed to the re-introduction of US economic sanctions on Iran and said in the difficult situation, the country needs investment in order to boost […]

Scania ‘Working to Deliver Parts to Iran after Sanctions’

Scania’s entire sales into Iran could be lost if the United States reinstates sanctions against the country, the Swedish truckmaker’s head warned on Friday. CEO Henrik Henriksson said Scania, which was one of the first truck companies to return to Iran after anti-Tehran sanctions were lifted in early 2016, had canceled all orders that it […]

Video: Why one French Company won’t Leave Iran

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The US sanctions on Iran are forcing many European companies to rethink their investment plans. But some small businesses are choosing to deal with Iranians, rather than Americans. Al Jazeera‘s David Chater went […]

EU: Encouraging Trade with Iran Crucial to JCPOA

The European Union Foreign Policy Chief Federica Mogherini said the EU is encouraging enterprises to increase their business with Iran, as that country has been compliant with their nuclear-related commitments. Mogherini told reporters Tuesday during her trip to Wellington, New Zealand, that it is up to Europeans to decide whom they want to trade with. […]

Iran’s Labor Minister Loses Confidence Vote

Iranian lawmakers on Wednesday gave a vote of no confidence to Minister of Cooperative, Labor and Welfare Ali Rabiee, terminating the much-criticized minister’s term after five years in office. The labor minister was impeached for the second time in less than five months. He had survived a vote of no confidence on March 13. The […]

Video: Trump warns Iran’s Trade Partners

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Despite the threats from the United States, the European Union is encouraging member countries to do business with Iran. But the White House is counting on the power of its dollar to keep […]

Caspian States start Neighbourhood Watch for the Environment

Caspian littoral states agree to start neighbourhood watch for the environment Littoral countries to the Caspian Sea have made a groundbreaking commitment to evaluate the likely impact that development projects will have on the environment in each other’s states. High-level representatives from Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan today signed the Environment Impact […]

EU “Struggles to Counter US Sanctions on Iran”

European efforts to protect businesses investing in Iran from US sanctions risk leaving executives with the tough choice of whether to obey EU or American rules. The EU is finalizing its plans to mitigate the punitive measures as the Trump administration prepares to impose a new wave of sanctions next month and in November, the […]

Iran Offers India Oil Cargo Insurance, Ships

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second-biggest oil client. Several refiners in Asia, Iran’s key market for oil sales, are gradually reducing the amount of […]