Tag Archives | sanctions

Renault to Remain in Iran despite US Sanctions

French carmaker Renault will maintain its presence in Iran despite the threat of renewed US sanctions, CEO Carlos Ghosn said. “We will not abandon it, even if we have to downsize very strongly,” Ghosn said at the annual shareholders’ meeting in Paris on Friday, AFP reported. “When the market reopens, the fact of having stayed […]

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 […]

US Sanctions Threaten Iran’s Hopes for Tourism

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. Iran’s numerous tourist attractions, many of which stem from its rich history and civilization going back thousands of years, have the potential to transform into revenue streams far more sustainable than the country’s vast […]

Iraq’s Pro-Iran Factions shrug off US Sanctions Push

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. Two pro-Iranian militias active in Iraq and Syria declared that possible US sanctions targeting them would be ineffective and claimed that such sanctions would actually strengthen their presence and expansion in […]

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 […]

BP Delays Work on Gas Field over New US Sanctions

BP has announced it is deferring new work on a gas field it co-owns with a subsidiary of Iran’s government-owned oil company because of impending US sanctions on Tehran after Washington pulled out of the 2015 nuclear deal. The oil and gas company said its ongoing work at the Rhum gas field northeast of the […]

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. […]

US vows ‘Strongest Sanctions in History’ on Iran

By John Lee. US Secretary of State Mike Pompeo has said that the Trump administration is imposing the “strongest sanctions in history” on Iran, adding that the country would be “battling to keep its economy alive“. The full text of Mike Pompeo’s speech to The Heritage Foundation in Washington DC can be read below: MS […]

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 […]

Sukhoi to Sell SuperJets to Iran despite Sanctions

Russia’s Sukhoi Civil Aircraft said it would continue to cooperate with Iranian airlines within the framework of interim agreements on the delivery of SSJ100R passenger aircraft, despite the re-implosion of US sanctions against Iran. “The Sukhoi Civil Aircraft will continue to work with Iranian airlines under the preliminary agreements signed at the Eurasia Air Show […]

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 […]

How Iran and Europe can Save the Nuclear Deal

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. US President Donald Trump’s unilateral withdrawal from the Joint Comprehensive Plan of Action (JCPOA) has created an urgency for all other deal signatories to work toward saving the accord. As international companies face a new […]

Iranian Oil Exports set to continue under US Sanctions

By David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Assessing the short- and long-term consequences of the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) for Iranian energy is crucial. In the short term, the impact will be rather modest in […]

Trump pulls US out of Iran Nuclear Deal: FULL DETAILS

By John Lee. US President Donald Trump has said he will withdraw the United States from Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA). In a live statement, the President said: “I will sign a presidential memorandum to begin reinstating U.S. nuclear sanctions on the Iranian regime. We will be instituting […]

Iran Nuclear Deal: Reaction from World Leaders

By John Lee. Following the US withdrawal from the Iran nuclear deal, world leaders have been giving their opinions. Former US President Barack Obama said: “Walking away from the JCPOA turns our back on America’s closest allies, and an agreement that our country’s leading diplomats, scientists, and intelligence professionals negotiated. “At a time when we […]

Rouhani Calls Trump’s Withdrawal “Psychological War”

President Rouhani Calls Trump’s Iran Nuclear Deal Withdrawal “Psychological War” Iran’s President Hassan Rouhani said on Tuesday that Tehran has adopted necessary measures to confront new anti-Iran pressures, saying that his US counterpart is launching psychological war and economic pressure on Tehran by announcing withdrawal from the 2015 nuclear deal. “The Iranian nation will be […]