Are Reported Iran-Russia Arms Deals Genuine?

By Abbas Qaidaari, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s foreign policy has experienced many developments following the signing of the Joint Comprehensive Plan of Action with six world powers on July 14. The most significant of these changes is perhaps how Russia […]

Rouhani Fires Back at Criticism of Economic Management

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 price of oil dropped to $31.56 per barrel on Jan. 11, a 12-year low. While the news has been tough on all oil-exporting countries, perhaps no one feels the pressure more than Iran’s […]

New Ambassador to Denmark Named

Following the recommendation of Foreign Minister, Mohammad Javad Zarif, and the approval of President Hassan Rouhani, Iran’s new Ambassador to Denmark Morteza Moradian (named) was named on Wednesday. Moradian had already served as director general for the Commonwealth of Independent States (CIS), Caucuses, north western neighbours, deputy director general for Western Asia, and Irans ambassador […]

Iran Preparing for Unfreezing of $30bn

By John Lee. PressTV quotes the governor of the Central Bank of Iran (CBI), Valiollah Seif (pictured), as saying that the CBI has started preparation for the much-awaited unfreezing of around $30 billion in Iranian funds but have been frozen in overseas banks as a result of sanctions. Seif said the money could be made available […]

Airbus Targets Iranian Jet Market

By John Lee. The head of Airbus’s passenger jet unit has told the Financial Times that the company is poised to re-enter the Iranian aircraft market when sanctions are lifted. Fabrice Brégier (pictured) said: “We have made some contacts … This is potentially a huge market for Airbus and our competitors. “We are dependent on the […]

Malaysia’s Petronas to Buy Iranian Oil

By John Lee. Malaysia’s Petronas has announced that it will purchase oil from Iran, following a break of after three years. Company President and CEO, Datuk Wan Zulkiflee Wan Ariffin (pictured), said on Wednesday that Petronas stopped importing crude oil from Iran in 2012 but it will consider purchase of oil from the Middle Eastern […]

Iran Increases Food Exports to Russia

By John Lee. The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), Massoud Khansari (pictured), has announced that 500 trucks carrying foodstuffs have been dispatched to Russia in the past week, via the Azerbaijan Republic. According to Tasnim News Agency, Iran has made great efforts in recent months to replace Turkey in the […]

SPGC Exports 3.2m Tons Sulfur

The South Pars Gas Complex (SPGC) exported more than 3.23 million tons of granular sulfur in the nine months ending 21st December. Average daily sulfur production at SPGC’s first, second, third, fifth and ninth refineries stands at 1,300 tons, Masoud Hassani, the SPGC’s managing director, told Shana. Granular sulfur is used in chemical, textile, metallurgical, […]

Iran Frees US Sailors

By John Lee. Iran’s Revolutionary Guards (IRGC) have released the 10 US sailors who were detained on Tuesday for entering its territorial waters. The Commander of the IRGC’s Navy Brigadier General, Ali Fadawi [Ali Fadavi] (pictured), said the vessels entered Iran’s waters because their navigation systems had broken down. U.S. Secretary of State John Kerry […]

Arak Reactor ‘Not Yet Decommissioned’

By John Lee. Iran’s deputy nuclear chief has denied a report that the core of the Arak heavy-water reactor has been removed and filled with concrete. According to BBC News, Ali Asghar Zarean said that Iran would sign an agreement with China to modify the reactor before doing so. “Definitely, we will not apply any […]