Tag Archives | Joint Comprehensive Plan of Action (JCPOA)

UK Replaces US in Redesigning Arak Reactor

By John Lee. The head of the Atomic Energy Organization of Iran (AEOI) has said that the US has been replaced by the UK on the working group tasked with redesigning the Arak heavy water reactor in central Iran. Ali Akbar Salehi (pictured) told IRIB that the US withdrawal from the nuclear deal has not impacted […]

EU adopts Support Package for Iran

The Commission has adopted a first package of €18 million for projects in support of sustainable economic and social development in the Islamic Republic of Iran, including €8 million assistance to the private sector. Today’s projects are the first of a wider package of €50 million for Iran, aiming to support the country to address […]

Westminster Group seeks Solution to Remain in Iran

By John Lee. UK-based supplier of managed services and technology-based security solutions has said it is seeking a solution that would allow it to remain in the Iranian market. In a statement to the markets on Tuesday, Westminster Group said: “On the 10 May 2018 the Company announced that its major long term managed services contract […]

Beijing to Continue Trade with Tehran

China’s Commerce Ministry declared on Thursday that Beijing is consistently opposed to the United States’ unilateral sanctions against Iran and intends to continue its trade cooperation with the country under its international commitments. The Chinese ministry spokesperson Gao Feng, during a briefing commented on Iran’s complaint against the United States to the International Court of […]

E3 Agrees to Replace Dollar in Iran Trade: Lavrov

Russia says the three European parties to the Iran nuclear deal have agreed to continue trade ties with Tehran without the US dollar. The European parties to the Joint Comprehensive Plan of Action –Britain, France and Germany- have agreed to maintain trade with Iran independent of the US dollar, Russia’s Foreign Minister Sergei Lavrov said. […]

Most French Firms ‘Unable to Stay’ in Iran

Most French Firms ‘Unable to Stay’ in Iran due to US Sanctions: Minister French Finance Minister Bruno Le Maire said that after the US imposes new sanctions on Iran most French companies would be unable to continue business in Iran because of problems over payment, also saying that the US cannot be the “planet’s economic […]

Protecting EU companies in Iran

Following up on the informal Leaders’ Meeting in Sofia, as well as the Commission’s announcements of 18 May, the European Commission has adopted an update of the Blocking Statute and of the European Investment Bank (EIB)‘s External Lending Mandate. These measures are meant to help protecting the interests of EU companies investing in Iran and to demonstrate the EU’s […]

Iran to Boost Uranium Enrichment Capacity

Iran to Boost Uranium Enrichment Capacity Following Leader’s Order: AEOI Spokesman for the Atomic Energy Organization of Iran (AEOI) Behrouz Kamalvandi said the organization is starting a process to boost the country’s capacity to enrich uranium following an order by Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei. Kamalvandi told ISNA news agency on […]

Peugeot-Citroën to Pull Out of Iran

French car maker PSA Group has said it will pull out of two joint in Iran following Washington’s withdrawal from the Iran nuclear deal. In a statement, the maker of Peugeot and Citroen cars said: “After signature of the Joint Comprehensive Plan of Action (JCPOA) on July 14th, 2015 and the lifting of international sanctions […]

How US Sanctions will impact Iranian Startups

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On May 8, US President Donald Trump finally carried out his threat to pull out of the nuclear deal with Iran. Agreed on by Iran and six world powers back in 2015, the Joint Comprehensive […]

Iran Gas Exports “Unsanctionable”: Official

The CEO of the National Iranian Gas Company (NIGC) said export and consumption of natural gas would benefit humanity, adding Iran’s gas export deals were still effective and “no one has the right to impose sanctions on them.” “Export of gas does not necessarily concern national interests, rather, human interests are hinged upon export and […]

Video: Nuclear Deal ‘in intensive care’

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Signatories of the Iran nuclear deal meet in Vienna in a bid to save the agreement, as Iran warns the deal has been put “in intensive care” by Washington’s dramatic withdrawal earlier this month. […]

Iran’s Gas Industry “Not Affected” by US JCPOA Exit

A top Iranian energy official highlighted the country’s self-sufficiency in the gas industry and said it is not going to face any restrictions following the US withdrawal from the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA). In remarks released on Monday, Managing Director of the National Iranian Gas Company (NIGC) […]

Shipping Giant to cease Iran Business

By John Lee. Danish shipping giant AP Moller-Maersk has said it will cease operations in Iran following the reimposition of US sanctions. Chief Executive Soren Skou is quoted as saying: “With the sanctions the Americans are to impose, you can’t do business in Iran if you also have business in the U.S., and we have […]

Total to Unwind Iran Operations if no Waiver

On 4 July 2017, Total, together with the other partner Petrochina, executed the contract related to the South Pars 11 (SP11) project, in full compliance with UN resolutions and US, EU and French legislation applicable at the time. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian […]

EU, Iran Working on Details of Direct Money Transfers

The European Union’s energy commissioner said he has submitted the EU proposal for direct transfers of money to Iran’s central bank, adding that the two sides are discussing the plan in details. Speaking to reporters after a meeting with Iran’s energy minister in Tehran on Saturday, Miguel Arias Canete highlighted the EU’s efforts to boost […]

Iran’s Housing Sector keeps Building

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In Iran, the housing sector — which accounts for a hefty 35% of all household expenses — has since 2011 been in the grip of its worst recession in recent history. Indeed, it was the only […]