Smugglers in Iran make $20B a Year

The head of the Campaign against Smuggling of Goods and Foreign Currency, Habibollah Haqiqi, has said that smugglers in Iran earn over $20 billion a year. IRNA also quotes him as saying that their actions prevent the creation of two million jobs in the country. Haqiqi accused the smugglers of illegally importing bring poor quality […]

Poland Considers Oil and Gas Prospects in Iran

Poland’s state-run gas distributor is examining oil and gas exploration and production opportunities in Iran. The Polish Oil and Gas Company (POGC, PGNiG)‘s CEO Mariusz Zawisza told Reuters: “We are interested in the Iranian market and we are considering various business configurations there … “We have an office in Iran and are at the stage of […]

Will Rouhani only Serve One Term as President?

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. The weekly paper of Iran’s Hezbollah (Ansar-e Hezbollah) argued that President Hassan Rouhani will be the first one-term president in the history of the Islamic Republic of Iran. While Iran’s hard-liners have still not […]

High Hopes for New Iranian Oil Contracts

By Farshad Kashani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran has devised a new contract model — designed to benefit both the National Iranian Oil Company and international contractors — that it hopes will bring in billions of dollars in investments. Unlike some […]

Ayatollah: US using Sex and Money to Infiltrate Iran

Iran’s supreme leader, Ayatollah Ali Khamenei (pictured), has said that the United States is using sex, money and Western lifestyles to infiltrate Iran’s decision-making elite. Reuters quotes him as telling a gathering of the commanders of the Basij, IRGC’s voluntary militia arm: “Two main things are used for this infiltration: money and sexual attractions. They […]

Iran Defers Methanol, Urea Projects

The National Petrochemical Company (NPC) has decided to hold off on a number of its methanol and urea petrochemical projects because of the country’s excessive output of these products, a senior NPC official said. Director of Planning and Development of the NPC, Hamid Reza Rostami, said the projects are being deprioritized due to the market […]

Iran Approaches Self-Sufficiency in Wheat

The Head of Iran’s Government Trading Company (GTC) said the country’s wheat production in the next Iranian calendar year (March 2016-March 2017) will exceed 10 million tons. Ali Qanbari told the Tasnim News Agency: “We will have no wheat imports next year and given satisfactory precipitations in the month of fall, we can approach the […]

Iran Hedges its Bets in Syria

By Ellie Geranmayeh, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The countries party to the statement of the International Syria Support Group, which was agreed to Nov. 14 in Vienna, seek to implement a road map to end the Syrian conflict under conditions most […]

Iran Targets $60bn Trade with Turkmenistan

President Rouhani and his Turkmen counterpart President Gurbanguly Berdimuhamedow held a joint meeting in Tehran and described Tehran-Ashgabat ties amicable, stressing the need to design a long-term cooperation plan. Pointing out that the two countries enjoy historic ties with each other, President Rouhani said: “Tehran-Ashgabat relations have always been amicable and are deepening to the […]

Iran in Talks on Major Shipbuilding Projects

By John Lee. Iran plans to unveil a series of grand projects in partnership with major world shipbuilders, according to a report from Iran Daily. Talks have been held with South Korean, Italian, Chinese, German and Turkmen companies on joint ventures, said The Managing Director of the Iran Shipbuilding and Offshore Industries Complex Company (ISOICO), […]