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Iraq Rebuffs US on Cutting Off Energy Purchases from Iran

The US is pressuring Iraq to stop buying energy from its neighbor Iran, in what has become a major point of conflict between Washington and Baghdad. Iraqi leaders are pushing back on the demand, which is rooted in US President Donald Trump’s sanctions against Iran, according to a report by the New York Times on […]

Iran, Turkey Complementary in Many Areas: Minister

Turkish Minister of Transport and Infrastructure Mehmet Cahit Turhan highlighted the importance of his country’s relations with Iran and said the two nations can complement each other in various political, cultural and economic areas. Speaking at a ceremony in Ankara on Monday to mark the 40th anniversary of the Islamic Revolution’s victory, Turhan hailed the […]

Top Lawmakers Discuss Bolstering Iran-Japan Ties

Iranian Parliament Speaker Ali Larijani and President of Japan’s House of Councilors Chuichi Date explored avenues for the expansion of political and economic relations between the two countries. Larijani, who has travelled to Japan with a parliamentary delegation, met with Chuichi Date on Tuesday. In the gathering, the Iranian official hailed the age-old relations between […]

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Iran, Iraq to Use Euro, Dinar in Oil Trade

The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Abdolnaser Hemmati on Wednesday held a meeting with presidents of Iraqi banks, members of Iraq’s chamber of commerce and the Arab country’s business people during a trip to Baghdad. In the gathering, the top […]

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After 40 years, is Iran’s Revolution Unravelling?

By Suzanne Maloney, Brookings Institution. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. After 40 years, is Iran’s revolution unravelling? Iranians came to the streets en masse on Monday to mark the 40th anniversary of the revolution that brought their Islamic Republic to power. As […]

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Staff Assistant, Economist, ESCAP – Economic and Social Commission for Asia and the Pacific (Source: UN) (Picture: Success, growth, career, development signpost from 3D_Creation/Shutterstock)

Iran, Iraq Deal to Boost Cooperation in Electricity

High-ranking officials from Iran and Iraq on Friday signed two memorandums of understanding (MoUs) and a contract to boost cooperation between the two countries in the electricity industry. At the end of his three-day visit to Iran, Iraqi Minister of Electricity Luay al-Khatteeb signed two MoUs and a contract on the electric industry with Iranian […]

Iran’s Biggest Solar Power Plant Launched

Iran’s biggest solar power plant with a capacity to produce seven megawatts (MW) of electricity was inaugurated in the western province of Hamedan on Tuesday. The power plant came into operation during a ceremony attended by Iranian First Vice-President Eshaq Jahangiri and Energy Minister Reza Ardakanian in Hamedan on Tuesday. The renewable energy project has […]

Russia to Construct Iran-India Gas Pipeline

Iranian Oil Minister Bijan Namdar Zanganeh said the country has accepted Russia’s proposal to construct a subsea pipeline for exporting natural gas from the Islamic Republic to India. Speaking to reporters at a press conference in Tehran on Tuesday, Zanganeh dismissed as “untrue” claims that he had not accepted the Indians’ proposal to construct the […]

US “Pressuring” European Firms to Limit Activity in Iran

The general secretary of the German-Iranian Chamber of Commerce said US officials are pressuring European companies to limit their business activities in Iran. “There is more passion from our American friends to create problems,” Michael Tockuss told the German business news weekly Wirtschaftswoche on Saturday. Those problems, Tockuss said, stem from direct pressure being applied […]

ATR Applies for US Permission to Deliver Iran Planes

The CEO of Iran Air said ATR aircraft manufacturer has requested permission from the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury for the delivery of the turboprops Iran has purchased. Farzaneh Sharafbafi told Tasnim on Saturday that the delivery of the remaining ATR turboprops to Iran requires a permission […]

Up to 7000 German firms eager to Trade with Iran

By John Lee. The managing director of the German-Iranian Chamber of Commerce has reportedly said that up to 7,000 German business enterprises are believed to be seeking to continue trade with Iran. Michael Tockuss is quoted as saying: “Our estimate is that between 5,000 and 7,000 small- and medium-scale businesses are still after trade with […]

Attempts to Hack Diplomatic Entities in Iran

By John Lee. Russian cybersecurity firm Kaspersky Lab has said it has found evidence of attempts to compromise the information systems of foreign diplomatic entities in Iran: “Throughout the autumn of 2018 we analyzed a long-standing (and still active at that time) cyber-espionage campaign that was primarily targeting foreign diplomatic entities based in Iran. “The […]

PM Urges Rapid Implementation of Iran Banking Deal

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said Iraqi Prime Minister Adil Abdul-Mahdi has voiced “his firm support” for the banking deal reached between the two countries on Tuesday night and called for its rapid implementation. “After a long and four-hour meeting last night with the governor of the Central Bank of […]

Iran, Iraq “Finalize” Payment Mechanism

Governors of the central banks of Iran and Iraq signed an agreement to develop a payment mechanism aimed at facilitating banking ties between the two neighboring countries. The deal on the payment mechanism was signed in a meeting between Iran’s Abdolnaser Hemmati and Iraq’s Ali Mohsen al-Allaq in Baghdad on Tuesday night. Speaking at the […]

New Petropars CEO Appointed

The CEO of the Naftiran Intertrade Company Sàrl (NICO) issued a decree appointing Hamid Reza Masoudi (pictured) as the new managing director of Petropars Ltd. (PPL). “Considering the valuable commitment, expertise and experiences you have displayed and regarding the approval of the general assembly of Petropars Company, you are appointed as the managing director and […]

Iran “Never Accepts INSTEX’s Humiliating Conditions”

Iran Never Accepts INSTEX’s Humiliating Conditions: Judiciary Chief Iranian Judiciary Chief Ayatollah Sadeq Amoli Larijani said the country would never accept the “humiliating conditions” of the European Union’s financial mechanism for trade with Iran known as INSTEX, including Iran’s accession to the Financial Action Task Force (FATF). “After 9 months of procrastination and negotiation, Europeans […]

Major Petro-Refinery to be Built in Jask

Plans are under way to build a large petrochemicals and refining complex in Jask Island by Bakhtar Petrochemical Holding. Ali Mohammad Bossaqzadeh, director of projects at the National Petrochemical Company (NPC), told NIPNA that the project would be built in order to meet the needs of the country and also to increase the exports of […]

Iran Falls in Transparency Ranking

By John Lee. Transparency International has said that Iran’s ranking has fallen eight places in its global Corruption Perceptions Index (CPI). From a total of 180 countries, Iran came in at number 138; last year’s position was 130 out of 180 countries. This result puts it on equal ranking with Lebanon and Russia, ahead of […]

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Development Coordination Officer, Economist, UNDP – United Nations Development Programme Development Coordination Officer, Partnerships and Development Finance, UNDP – United Nations Development Programme Executive Associate to UN Resident Coordinator, UNDP – United Nations Development Programme Admin Intern, UNDP – United Nations Development Programme Administrative […]