New PEDEC CEO Appointed

Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), has appointed Touraj Dehghani as chief executive officer and the main member of the board of directors of the Petroleum Engineering and Development Company (PEDEC). Touraj Dehghani was previously a deputy director of PEDEC, and member of the board of directors and supervisor […]

How Rial’s Devaluation may Boost Iranian Economy

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. The money supply in the Iranian economy exceeds $355 billion at the official exchange rate, remarkably surpassing total economic output of $331 billion. Financial depth, a metric showing the ratio of liquidity to gross domestic […]

Most French Firms ‘Unable to Stay’ in Iran

Most French Firms ‘Unable to Stay’ in Iran due to US Sanctions: Minister French Finance Minister Bruno Le Maire said that after the US imposes new sanctions on Iran most French companies would be unable to continue business in Iran because of problems over payment, also saying that the US cannot be the “planet’s economic […]

Arrest of Human Rights Lawyer “an Outrage”

From Amnesty International. Arrest of prominent human rights lawyer Nasrin Sotoudeh is an outrage The arrest of Nasrin Sotoudeh, a prominent Iranian human rights lawyer, is an outrageous attack on a brave and prolific human rights defender, Amnesty International said today. Nasrin Sotoudeh was arrested at her home in Tehran this morning and transferred to […]

China Eyes Iran Trade in Own Currencies

China’s President Xi Jinping in a meeting with his Iranian counterpart offered plans for trade exchange between the two countries using their own currencies, namely rial and yuan. In a meeting with Iranian President Hassan Rouhani, held on the sidelines of the Shanghai Cooperation Organization summit in the city of Qingdao on Sunday, the Chinese […]

Iraqi Depositors ‘Trapped’ In Iranian Banking System

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Abbas Sarhan. The Iranian banking system was seen as an attractive alternative to Iraq’s shaky financial institutions. But a recent, drastic devaluation in the Iranian rial means Iraqi […]

UK appoints New Trade Commissioner for Middle East

UK International Trade Secretary Dr Liam Fox MP has appointed Simon Penney (pictured on right) as Her Majesty’s Trade Commissioner (HMTC) for the Middle East. The announcement was confirmed by Dr Fox on a visit to Bahrain and the United Arab Emirates (UAE), where he met government and industry representatives to boost trade and promote […]

Protecting EU companies in Iran

Following up on the informal Leaders’ Meeting in Sofia, as well as the Commission’s announcements of 18 May, the European Commission has adopted an update of the Blocking Statute and of the European Investment Bank (EIB)‘s External Lending Mandate. These measures are meant to help protecting the interests of EU companies investing in Iran and to demonstrate the EU’s […]

US Sanctions Threaten Iran’s Hopes for Tourism

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s numerous tourist attractions, many of which stem from its rich history and civilization going back thousands of years, have the potential to transform into revenue streams far more sustainable than the country’s vast […]

Video: Will Iran-US Tensions threaten Iraq’s Stability?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. It’s been three weeks since the parliamentary election in Iraq and many Iraqis voted for a nationalist party opposed to foreign interference. But both Riyadh and Washington want an Iraq that is sympathetic […]

Ban on High-Water-Consumption Industry in Dry Regions

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran to ban new high-water consumption industry in dry regions Iran has long been faced with a wide range of environmental challenges. These include everything from drought leading to soil erosion and sandstorms to […]

Iran Willing to Buy $1.5bn Ukrainian Ag Products

Iran has expressed willingness to purchase $1.5 billion worth of agricultural products from Ukraine, a report said. Ukraine and Iran are interested in deepening bilateral cooperation in the agricultural sector, particularly in increasing supplies of grains, vegetable oil, corn, barley and soybeans for domestic needs of Iran, Ukraine’s Deputy Agrarian Policy and Food Minister Viktor […]

Meet Iran’s Likely Next Hardliner-in-Chief

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. It sounds like the days of Ayatollah Mohammad-Taghi Mesbah Yazdi leading Iran’s hard-liners are coming to a close. At 83, he appears ready to step aside for a new ayatollah. It has recently been reported by local news […]

US, Iran “Face Off” in Former Extremist-Held Iraqi Town

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Locals in Al Qaim, Anbar, worry that the current stable security situation can’t last. It’s being upheld by US troops and Iran-allied militias, whose antipathy toward one another is […]

Truckers display new face of Popular Protest in Iran

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On the first day of what quickly became Iran’s largest trucker strike in recent years, a driver told his audience on film, “Today, May 22, on the ring road of Kavar, we are making sure that […]

Iran to Boost Uranium Enrichment Capacity

Iran to Boost Uranium Enrichment Capacity Following Leader’s Order: AEOI Spokesman for the Atomic Energy Organization of Iran (AEOI) Behrouz Kamalvandi said the organization is starting a process to boost the country’s capacity to enrich uranium following an order by Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei. Kamalvandi told ISNA news agency on […]

Iraq’s Pro-Iran Factions shrug off US Sanctions Push

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Two pro-Iranian militias active in Iraq and Syria declared that possible US sanctions targeting them would be ineffective and claimed that such sanctions would actually strengthen their presence and expansion in […]

Iran Protests to Turkmenistan over Truck Transit Fees

Iran’s Deputy Minister of Roads and Urban Development Abdolhashem Hassannia voiced the country’s protest over a recent move by neighboring Turkmenistan to increase transit fees for Iranian trucks traveling to the Central Asian country by 50 percent. Speaking at a meeting with Turkmenistan’s ambassador to Tehran, Ahmed Gurbanov, Hassannia warned that following the unilateral move […]

Peugeot-Citroën to Pull Out of Iran

French car maker PSA Group has said it will pull out of two joint in Iran following Washington’s withdrawal from the Iran nuclear deal. In a statement, the maker of Peugeot and Citroen cars said: “After signature of the Joint Comprehensive Plan of Action (JCPOA) on July 14th, 2015 and the lifting of international sanctions […]

Qatar Blockade – Surge in Food Imports from Iran

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iran was one of the countries which quickly stepped in to ensure Qatari supermarket shelves remained well stocked. Iranian exporters say helping Qatar is not just about making money. But deepening ties could […]