Crude Oil for Gas: Prospects for Iran-Saudi Reconciliation

Despite the sectarian barbs traded between Saudi Arabia and Iran, Iran’s unique ability to meet the kingdom’s fast growing demand for electricity may help spur a reconciliation, according to the Atlantic Council‘s Jean-François Seznec. In his report Crude Oil for Natural Gas: Prospects for Iran-Saudi Reconciliation, Seznec argues that the two dominant energy producers do […]

Rouhani Expects Sanctions Lifted by end-2015

Iran’s President, Hassan Rouhani, has said he expects sanctions on Iran to be lifted by the end of the year. IRNA quotes Rouhani as saying, “according to our plans, the oppressive sanctions against the Islamic Republic of Iran will be lifted by the end of 2015.” Meanwhile, special envoy and coordinator for international energy affairs […]

Iran Buys Shares of AIIB Bank

Iran’s Deputy Economy Minister, Mohammad Khazayee, has said that Iran has finalized the purchase of a 2.8 per cent stake in the Asian Infrastructure Investment Bank (AIIB) which has recently been launched by China. According to a report from Mehr News Agency, the Minister also announced plans to buy shares in the New Development Bank […]

Sweden’s Leax Group Considers Iranian Market

Swedish mechanical components manufacturer Leax Group is reported to be eyeing the Iranian market for potential major new business. Following a recent visit to the country organised by Scandinavian automotive supplier association, FKG, Leax Group president and CEO Roger Berggren (pictured) told just-auto: “Iran used to be a very good market for Volvo and Scania […]

Port of Antwerp Meets with Iran

A delegation from the Belgian port of Antwerp visited Iran last week to re-establish shipping and commercial ties. According to a report from MarEx, the meetings included officials from Iran’s Ports and Maritime Organization, the Islamic Republic Shipping line (IRSL), Iranian Customs and the Iranian investment Organization, finishing with a visit to the Shahid Rajaee […]

Iran Demands Rights to Helmand Water

“One of our main demands in our negotiations with Afghanistan is Iran’s right to the Helmand water“, says Foreign Minister Mohammad Javad Zarif (pictured). Following the 1857 separation of Afghanistan from mainland Iran, the then Afghan government refused to allow the Iranian side to enjoy its water right from the Helmand river. Helmand water rights […]

NSC Opens Office to Oversee Iran Deal Implementation

By Laura Rozen, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The US National Security Council is joining the State Department in establishing a new office to oversee implementation of the Iran nuclear deal, to be headed by NSC Director for Nonproliferation Paul Irwin, a […]

IKCO Vehicle Production Slumps

Vehicle production at the Iran Khodro Company (IKCO), Iran’s largest auto manufacturing company, has fallen below 1,000 units a day. Tasnim News Agency reports that as recently as last May the company was producing 2,400 units per day, but this fell to 910 units per day for the month ending 22nd October. An unnamed official […]

Iran to Boost South Pars Gas Output

By John Lee. Iran plans to start producing gas and condensate at Phases 17 and 18 of the South Pars offshore deposit by late March, according to a report from Bloomberg. The onshore facilities of this project will be constructed in Asalouyeh region, some 100 kilometers from Asalouyeh coast. The offshore facilities of this project […]

Korea signs MOU with Iran re Stock Market

By John Lee. The Korea Exchange (KRX), operator of South Korea’s stock exchange, has signed a memorandum of understanding with the Securities and Exchange Organization (SEO) of Iran in Tehran collaborate and share experience in building related infrastructure. The SEO is Iran’s financial regulatory body, which governs the country’s stock, derivatives and bond markets. The KRX […]