Tag Archives | sanctions

NSC Opens Office to Oversee Iran Deal Implementation

By Laura Rozen, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The US National Security Council is joining the State Department in establishing a new office to oversee implementation of the Iran nuclear deal, to be headed by NSC Director for Nonproliferation Paul Irwin, a […]

Swiss Govt to Ease Iran Sanctions

By John Lee. According to a report from Associated Press, the Swiss government says it plans “in principle” to ease sanctions against Iran in line with the European Union and the United Nations following an international accord on Tehran’s nuclear program. The Federal Council said it has instructed the Economy Ministry to prepare changes to […]

Canadians Accused of Exporting Rail Equipment to Iran

By John Lee. Two Canadians accused of illegally selling railway equipment to Iran appeared in court in Montreal on Wednesday. Michael Allen (67) and Hugo Dreckmann (75) were ordered to return to court on 19th February, 2016. The two, directors of Romic Marc Rail, are accused of illegally exporting nearly $10 million worth of American-made railway equipment to Iran, […]

IGRC-Linked Companies may Partner with IOCs

The man responsible for Iran’s new oil contracts has said that domestic companies linked to the Islamic Revolutionary Guards Corp (IRGC) may be approved to partner international oil companies (IOCs) in joint ventures. Seyed Mehdi Hosseini, head of the Oil Contracts Restructuring Committee, said: “The point of these Revolutionary Guards is that they are engineering companies, […]

Senergy Working on Oil Deals despite Sanctions

Iran’s Research Institute of Petroleum Industry (RIPI) quotes a representative of the Britiah company LR Senergy as saying that the company has been active in Iran despite the western sanctions, and is in the process of signing new contracts. “We are in the process of signing agreements. The current sanctions regime does not stop us […]

Iran, Azerbaijan Plan Joint Bank

By John Lee. Iran and Azerbaijan are in discussions to set up a joint bank to facilitate financial transactions between the two countries. Iran’s Minister of Communications and Information Technology, Mahmoud Vaezi (pictured), told Azerbaijan’s Trend News Agency that in addition to the joint bank, the countries are also in talks to open branches of […]

Winners and Losers if Sanctions Lifted

By John Lee. An analysis by Fortune magazine lists the expected winners and losers from a lifting of sanctions on Iran. Winners EU automakers: Companies such as Germany’s Mercedes-Benz, and Peugeot and Renault of France, are identified as being well positioned to take advantage of Iran’s large market. Oil services companies: Iran says it needs […]

Shell to Pay Iran Debt, Considers Investment

By John Lee. A top executive at Shell has said that the company is to repay a $2 billion (1.3 billion pounds) debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted, and will consider investing in the country’s vast energy sector. The debt is a result of Iranian oil deliveries […]