Tag Archives | Iraq

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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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 […]

Aiding Iraq in Reconstruction Iran’s Priority

Aiding Iraq in Reconstruction Iran’s Priority after Daesh Defeat: Defense Minister Iranian Defense Minister Brigadier General Amir Hatami said that following the defeat of the Daesh (ISIL or ISIS) terrorist group in Iraq, Iran’s priority in its cooperation with Iraq now is helping the Arab country in its reconstruction process. In a meeting with Iraqi […]

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Iran Oil Ministry: Iraq to Blame for Delay in Oil Swap

Iran’s Oil Ministry linked a 4-month delay in the implementation of an oil swap deal with Iraq to the Arab country’s unpreparedness and technical problems. In a letter to the Tasnim News Agency in response to a recent report on the lengthy delay in implementation of the oil swap deal with Iraq, Iran’s Oil Ministry […]

Russian Firm to Invest $740m in Iranian Oil Fields

Russia’s state-controlled Zarubezhneft signed an agreement in Tehran on Wednesday to re-develop two oil fields in western Iran. It was the second post-sanctions oil contract awarded to Russia by Iran. Based on the agreement, the Russian firm would re-develop Aban and West Paydar oil fields. Both fields are located in areas bordering Iraq and are […]

Iran Offers $3bn LOC for Iraq Reconstruction

By John Lee. Iran’s First Vice President, Es’haq Jahangiri, has said Iran is ready to provide Iraq with a line of credit (LOC) of “up to” three billion dollars to pave the way for the Iranian private sector’s active participation in the reconstruction of the country. According to Iran’s PressTV, he made the statement at […]

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Iraq to continue Importing Electricity from Iran

By John Lee. Iraq’s Minister of Electricity Qassim Mohammad al-Fahdawi has met with a visiting delegation from Tehran headed by Iran’s Minister of Industry, Mine and Trade, Mohammad Shariatmadari. They renewed for an additional year a contract under which Iran sells electricity to Iraq. Through four major supply lines, Iran sends 1,000 megawatts of electricity […]

Iran, Iraq Economic Roadmap to be Outlined

By John Lee. Iran’s Minister of Industry, Mine and Trade, Mohammad Shariatmadari (pictured), has said it is hoped that upcoming visit of Iran’s first vice president Es’hagh Jahangiri to Iraq will “outline the economic cooperation roadmap between the two countries.” Shariatmadari and his accompanying delegation held talks on Monday with Iraq’s Minister of Housing and […]

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300 Peugeot Pars on their way to Iraq

By John Lee. By the end of this year IKCO will strengthen its presence in Iraq, dispatching 300 Peugeot Pars passenger cars, equipped with automatic gearboxes. “Iraqi market is one of the foremost export markets for IKCO,” said Hassan Golchubian, IKCO Export Director of the Middle East and Africa, adding that as other markets, Iraq […]

Call for Soft Power to head off Water Crises

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranians call for soft power now to head off future water crises A senior military adviser to Iranian Supreme Leader Ayatollah Ali Khamenei called Feb. 27 for talks with Iraq and Afghanistan on water resources. At a two-day […]

Speaker Requests Iran’s Help in Reconstruction of Iraq

Iraqi Parliament Speaker Salim al-Jabouri praised Iran for supporting the Arab country in the fight against terrorism, calling for Tehran’s continued assistance and partnership in the reconstruction and development of Iraq. In comments at a Sunday meeting in Iran’s Baghdad embassy, held to mark the victory anniversary of the Islamic Revolution, Jabouri expressed the hope […]

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Iraqi Kurds manoeuvre to get Closer to Iran

By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iraqi Kurds have given reassurances to Tehran that they will not allow Kurdish opposition groups to launch cross-border attacks from Iraqi Kurdistan, a major development in the warming up of relations between Erbil and Tehran. […]

Iran has settled Gas Dues to Turkey: NIGC

The managing director of National Iranian Gas Company (NIGC) said Iran has settled its debt to Turkey for overcharging gas and from now on receives payments for its gas flow. Hamidreza Araghi told a press conference on Monday that if Iran does not play a crucial role in the international gas market, it does not […]

Discussions on Iran-Iraq Ties

Iran’s Ambassador to Baghdad Iraj Masjedi and Leader of Iraq’s National Alliance Ammar al-Hakim weighed plans for closer cooperation between the two neighbor and discussed the latest developments in the region. In a meeting in Baghdad, the Iranian ambassador and the Iraqi politician discussed the most recent political and security developments in Iraq and the […]

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Iraq to start 60,000 bpd Oil Swap with Iran

By John Lee. Iraq says it plans to start oil exports to Iran from its northern Kirkuk oilfields next week, under the swap deal announced last month. Iraq will export 60,000 bpd of crude oil by truck from Kirkuk to Iran’s Kermanshah refinery (pictured), and ship back refined Iranian oil for southern Iraq. For the […]

Eni invites NIDC to Participate in Tenders in Iraq

By John Lee. Italian oil giant Eni has reportedly invited the National Iranian Drilling Company (NIDC) to participate in its international tenders in Iraq. NIDC managing director Sepehr Sepehri is quoted as saying that Eni has invited the NIDC to take part in three drilling tenders that the it plans to hold in Iraq. The […]

NIDC Eyes Iraqi Drilling Market

The National Iranian Drilling Company (NIDC) is planning to participate in neighboring Iraq‘s drilling tenders. Speaking to reported on the sidelines of an oil show in Kish Island, on Tuesday, Sepehr Sepehri, NIDC managing director, said the company’s approach is to secure itself a toehold in global markets, adding NIDC is planning to participate in […]

Iran Eyes Closer Banking Ties with Iraq

Iran’s president called for stronger banking relations with Iraq to allow for a growth in the bilateral trade and economic cooperation. In a meeting with Iraq’s parliament speaker in Tehran on Tuesday, President Hassan Rouhani said expansion of economic and trade ties between the two neighbors hinges on enhanced baking relations. The central banks of […]

Iran Unveils Plan for Gas Exports to Europe

An Iranian energy official unveiled plans for a major boost to the export of gas through the country’s western distribution network, describing a rise in the pipeline capacity as part of a project to increase gas exports to Iraq, Turkey and Europe. Speaking to Tasnim on Sunday, Iranian Gas Engineering and Development Company (IGEDC) Managing […]

Iran willing to Normalize Ties with KRG

By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran willing to normalize ties with KRG, but not without change Iran appears to be preparing to normalize its relations with Iraqi Kurdistan after two tumultuous months in which it helped Baghdad bring the Kurds to […]