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Dutch Firm “in Talks” regarding Azadegan Field

The managing director of a major Dutch manufacturer of flexible composite pipes said it is in final talks with Iran to develop a “flowline project” in the country’s South Azadegan oil field. “We are currently in the final negotiations for a project that should be a significant project. At this time, it is better not […]

Iran, Eurasia Ink Preferential Trade Deal

Iran and members of the Eurasian Economic Union signed a temporary preferential trade agreement in Kazakhstan on Saturday. In a ceremony in the Kazakh capital of Astana, Iran and the Eurasian Economic Union (EEU) signed the accord and agreed to reach a comprehensive and lasting deal within the next three years. The document was signed by […]

NISOC, Pergas Sign Deal to Developing Iran Oilfield

The National Iranian South Oil Company (NISOC) and Pergas Consortium have signed a heads of agreement on Wednesday for developing Iran’s Karanj Oilfield under the newly-devised model of oil contracts. The document was signed in Tehran in a ceremony that was held with Iranian Minister of Petroleum Bijan Zangeneh, NISOC CEO Bijan Alipour, British Ambassador […]

US vows ‘Strongest Sanctions in History’ on Iran

By John Lee. US Secretary of State Mike Pompeo has said that the Trump administration is imposing the “strongest sanctions in history” on Iran, adding that the country would be “battling to keep its economy alive“. The full text of Mike Pompeo’s speech to The Heritage Foundation in Washington DC can be read below: MS […]

Iraq Election leaves Iran Scrambling to Preserve Influence

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. The Sairoon (On the Move) Alliance formed by Muqtada al-Sadr and the Iraqi Communist Party is ahead in the preliminary results of the Iraqi elections. More than 90% of the votes in all of […]

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Shipping Giant to cease Iran Business

By John Lee. Danish shipping giant AP Moller-Maersk has said it will cease operations in Iran following the reimposition of US sanctions. Chief Executive Soren Skou is quoted as saying: “With the sanctions the Americans are to impose, you can’t do business in Iran if you also have business in the U.S., and we have […]

Total to Unwind Iran Operations if no Waiver

On 4 July 2017, Total, together with the other partner Petrochina, executed the contract related to the South Pars 11 (SP11) project, in full compliance with UN resolutions and US, EU and French legislation applicable at the time. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian […]

EU, Iran Working on Details of Direct Money Transfers

The European Union’s energy commissioner said he has submitted the EU proposal for direct transfers of money to Iran’s central bank, adding that the two sides are discussing the plan in details. Speaking to reporters after a meeting with Iran’s energy minister in Tehran on Saturday, Miguel Arias Canete highlighted the EU’s efforts to boost […]

Sukhoi to Sell SuperJets to Iran despite Sanctions

Russia’s Sukhoi Civil Aircraft said it would continue to cooperate with Iranian airlines within the framework of interim agreements on the delivery of SSJ100R passenger aircraft, despite the re-implosion of US sanctions against Iran. “The Sukhoi Civil Aircraft will continue to work with Iranian airlines under the preliminary agreements signed at the Eurasia Air Show […]

Iran’s Housing Sector keeps Building

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. In Iran, the housing sector — which accounts for a hefty 35% of all household expenses — has since 2011 been in the grip of its worst recession in recent history. Indeed, it was the only […]

Iran, Russia Agree to Boost Railroad Cooperation

Iranian Minister of Economic Affairs and Finance Massoud Karbasian and the director general of the Russian Energy Agency (REA), Anatoly Tikhonov, agreed to enhance cooperation between the two sides in various projects, including the Garmsar-Inche Bouroun railroad. “RZD International representatives as a part of the Russian delegation headed by Anatoly Tikhonov, Director General of the […]

US puts Sanctions on head of Central Bank

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force […]

How Iran and Europe can Save the Nuclear Deal

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. US President Donald Trump’s unilateral withdrawal from the Joint Comprehensive Plan of Action (JCPOA) has created an urgency for all other deal signatories to work toward saving the accord. As international companies face a new […]

Video: Iran seeks ‘Clear Future Design’ for JCPOA

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iran’s president has said he will stick to the agreement, if other countries meet their obligations. Meanwhile, his foreign minister has embarked on a diplomatic tour, in an attempt to salvage the deal. […]

Iran Energy Minister in Germany for Talks

Iranian Energy Minister Reza Ardekanian travelled to Germany on Monday to weigh plans for environmental and energy cooperation between the two countries. Ardekanian is planned to hold talks with Germany’s Federal Minister for the Environment, Nature Conservation and Nuclear Safety Svenja Schulze and Federal Minister of Germany for Economic Affairs and Energy Peter Altmaier during […]

Iranian Oil Exports set to continue under US Sanctions

By David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Assessing the short- and long-term consequences of the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) for Iranian energy is crucial. In the short term, the impact will be rather modest in […]

Polish Firm Signs Iran Cooperation Agreement

The National Iranian Drilling Company (NIDC) signed an outline agreement with Poland’s Exalo Drilling SA to cooperate in drilling operations. Sepehr Sepehri, NIDC CEO, signed the memorandum with Exalo and Mishan Company, a knowledge-based Iranian company, on the sidelines of the 23rd Iran Oil and Gas Show in Tehran on Tuesday, Shana reported. Mishan is […]

Trump pulls US out of Iran Nuclear Deal: FULL DETAILS

By John Lee. US President Donald Trump has said he will withdraw the United States from Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA). In a live statement, the President said: “I will sign a presidential memorandum to begin reinstating U.S. nuclear sanctions on the Iranian regime. We will be instituting […]

Iran Nuclear Deal: Reaction from World Leaders

By John Lee. Following the US withdrawal from the Iran nuclear deal, world leaders have been giving their opinions. Former US President Barack Obama said: “Walking away from the JCPOA turns our back on America’s closest allies, and an agreement that our country’s leading diplomats, scientists, and intelligence professionals negotiated. “At a time when we […]

Rouhani Calls Trump’s Withdrawal “Psychological War”

President Rouhani Calls Trump’s Iran Nuclear Deal Withdrawal “Psychological War” Iran’s President Hassan Rouhani said on Tuesday that Tehran has adopted necessary measures to confront new anti-Iran pressures, saying that his US counterpart is launching psychological war and economic pressure on Tehran by announcing withdrawal from the 2015 nuclear deal. “The Iranian nation will be […]