Iraqi Electricity Minister Qassem Al-Fahdawi (pictured) said yesterday that his country has failed to convince ...
Iranian Foreign Minister Mohammad Javad Zarif said the country has lodged a complaint against the ...
Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri, who is ...
By John Lee. French-based shipping group CMA CGM has announced that it is ceasing its ...
Russia says the three European parties to the Iran nuclear deal have agreed to continue ...
Iraqi Electricity Minister Qassem Al-Fahdawi (pictured) said yesterday that his country has failed to convince Iran to resume supplying Iraq with electricity. Last Friday, Al-Fahdawi along with an Iraqi delegation arrived in Tehran where they held talks with Iranian officials to resume supplying Iraq with 1,000 megawatts of electricity, which Tehran cut off about two […]
Iranian Foreign Minister Mohammad Javad Zarif said the country has lodged a complaint against the US government at the International Court of Justice (ICJ) over new American sanctions against the Islamic Republic. In a message in his Twitter account, Zarif said Iran has on Monday filed a complaint at the ICJ “to hold US accountable […]
Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri, who is on an official visit to neighboring Pakistan, said Tehran and Islamabad are making efforts to jointly manufacture military equipment. In remarks released after a meeting with Pakistani President Mamnoon Hussain in Islamabad on Tuesday, Major General Baqeri said during his […]
By John Lee. French-based shipping group CMA CGM has announced that it is ceasing its Iranian operations, following the threat from the US to blacklist companies doing business with Iran. CMA CGM Chief Executive Rodolphe Saade is quoted as telling a press conference: “Due to the Trump administration, we have decided to end our service […]
Russia says the three European parties to the Iran nuclear deal have agreed to continue trade ties with Tehran without the US dollar. The European parties to the Joint Comprehensive Plan of Action –Britain, France and Germany- have agreed to maintain trade with Iran independent of the US dollar, Russia’s Foreign Minister Sergei Lavrov said. […]
By John Lee. Austrian Airlines has announced that it will stop flights to the Iranian cities of Isfahan and Shiraz. In a statement, the company said: “Isfahan and Shiraz in Iran will already no longer be represented in the Austrian Airlines flight offering as of the middle of September 2018. However the traditional flight to […]
Iran and Austria have held talks to bolster oil and energy ties, a senior Iranian energy official said. Amir Hossein Zamaninia, deputy petroleum minister for international affairs and trading, who accompanied President Hassan Rouhani in his visit to Switzerland and Austria, outlined the visit’s achievements, saying the agreement on energy cooperation between the Iranian Ministry […]
By John Lee. KLM Royal Dutch Airlines has said that it has decided to suspend its direct flights to Tehran “for the time being as of 24 September … for commercial reasons“. In a statement, the company said: “As a result of the negative results and financial outlook for the Tehran operation, the last flight […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. EU diplomacy chief Federica Mogherini says the remaining participants in the Iran nuclear deal remain ‘committed’ to the accord. Iran’s remaining partners in the 2015 nuclear deal vowed Friday to keep the energy exporter […]
The South Korean Embassy in Tehran announced on Saturday the country’s purchase of crude oil and gas condensate from Iran was continuing unhalted. Loading of tankers with Iranian oil and gas condensate and oil purchase from Iran to South Korea is still continuing, said the embassy in a message on Saturday, July 7, 2018. South […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated Mahan Travel and Tourism Sdn Bhd, a Malaysia-based General Sales Agent (GSA), for acting for or on behalf of Mahan Air, an Iranian airline previously designated in connection with Iran’s support for international terrorism. GSAs such as Mahan Travel and Tourism […]
By John Lee. Authorities in Germany have reportedly launched an investigation into a request from Tehran to withdraw €300 million from a German-based bank and fly the cash back to Iran. The request comes as the Islamic republic prepares itself for tough US sanctions. The cash is held in accounts at the Iranian-owned trade bank Europäisch-Iranische […]
The total value of US exports to Iran during the first five months of this year has increased by 60 percent compared the same period in 2017, according to the latest data released by the US Census Bureau. The Census Bureau’s data showed that US exports to Iran from January to May this year rose […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Oil production, prices and politics require a delicate balance. Donald Trump is urging oil producing countries except Iran to boost output. He hopes that will keep prices low – and motorists happy with […]
The Financial Action Task Force (FATF) said Iran had until October to complete reforms that would “bring it into line with global norms or face consequences” that could further deter investors from the country. “The FATF is disappointed with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies,” the organization said […]
According to Iran Khodro Diesel‘s CEO, 15,000 commercial vehicles will be produced to join Iranian commercial fleet this year. Referring to the sanctions’ conditions this year, IKD CEO highlighted the ability and capacity of his company to domestically produce vehicles and added: “The commercial vehicles’ powertrains will be supplied by Iranian companies including IDEM, Charkheshgar, […]
The head of Iran’s Association of Automobile and Spare Parts Importers said Italy’s Fiat Chrysler Automobiles plans to resume its activities in Iran. Speaking to the Tasnim News Agency, Meysam Rezaei pointed to Fiat’s recent moves to obtain necessary legal licenses to resume its activities in the country and said the Italian firm has reached […]
The Islamic Republic of Iran has launched the second phase of the world’s largest gas condensate refinery in its southern city of Bandar Abbas. The first phase of the project, with 12 million liters per day of gasoline production capacity, came on-line in April 2017. Once fully operational, it will have a processing capacity of […]
Russian Railways has begun works on the electrification of a railway line in Iran, the head of Russian Railways company said. The project, worth $1.2 billion, will electrify a railroad connecting the city of Garmsar near Tehran with Incheboron near the border with Turkmenistan. The length of the Garmsar- Incheboron railway line is 495km. The […]
Iran has fully launched the 6th nationwide gas trunkline (IGAT-6) which bolsters the country’s gas export capacity to Iraq. The National Iranian Gas Company (NIGC) CEO Hamidreza Araqi said a major section of the project came online last calendar year (ended on March 20) and the last 100-km of the project has now come on-stream. […]