Tag Archives | Saudi Arabia

Iran Bans Saudi Imports

Iran has banned the import of goods from Saudi Arabia after the kingdom cut diplomatic ties over attacks on the Saudi embassy following the execution of Shiite cleric Nimr al-Nimr. According to Associated Press, annual imports from Saudi Arabia total about $60 million, and consisted mostly of packing materials and textiles. Iran has also discontinued […]

More Countries Recall Ambassadors from Tehran

The regional row over the execution of Shia cleric Sheikh Nimr al-Nimr in Saudi Arabia has intensified, with Kuwait announcing that it is recalling its ambassador from Iran. Saudi Arabia’s embassy in Tehran was ransacked and set alight on Saturday, after which Saudi Arabia broke off diplomatic ties with Iran. Saudi allies Bahrain and Sudan […]

Iranian Olive Branch Offers Diplomatic Paradigm Shift

By Hassan Ahmadian, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. It has been five years since the Arab Spring began roiling the Middle East and North Africa. During this time, conflict pitting Saudi Arabia and Qatar against Iran and its regional allies in Syria, […]

Is Qatar Iran’s door to the Gulf

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 map of alliances in the Middle East is changing rapidly, influenced by regional and international conflicts. Following the Iran nuclear deal signed in July and the improvement of Iran’s ties with the West […]

French Cosmetics Chain to Open in Iran

The French perfume and cosmetics chain Sephora plans to open several shops in Iran starting next year, according to a report from Reuters. The company, part of luxury industry leader LVMH, is keen to build its presence in Iran where there is a huge appetite for cosmetics and especially make-up. With a population of nearly […]

Crude Oil for Gas: Prospects for Iran-Saudi Reconciliation

Despite the sectarian barbs traded between Saudi Arabia and Iran, Iran’s unique ability to meet the kingdom’s fast growing demand for electricity may help spur a reconciliation, according to the Atlantic Council‘s Jean-François Seznec. In his report Crude Oil for Natural Gas: Prospects for Iran-Saudi Reconciliation, Seznec argues that the two dominant energy producers do […]

Iran gives 30-day visas at airports

By John Lee. Iran is to start issuing 30-day visas for tourists from 58 countries upon arrival at its airports. The Persian-language newspaper Donya-ye Eqtesad says the visas can be extended by 15 more days. Foreign tourists could previously get 14-day visas at Iran’s airports and their visas could not be extended. Eligible countries are: […]

Iran signs Development of Esfandiar Oilfield

The Iranian Offshore Oil Company (IOOC) and a Norwegian-Austrian company have signed a preliminary agreement for the development of the offshore Efandiar field, IOOC Managing Director Saeed Hafezi [Saeid Ha’fezi] (pictured) says. “The initial confidentiality agreement has been signed, the MDP (master development plan) prepared and sufficient data exchanged. We are only waiting for the […]

Kuwait, Iran in Dispute over Gas Field

By John Lee. Kuwait has reportedly summoned the Iranian charge d’affaires to protest against a bid by Iran to develop a disputed offshore gas field. According to TradeArabia, the field, known in Iran as the ‘Ashar’ field, and as the ‘Durra’ field by Kuwait and Saudi Arabia, is the subject of negotiations between the three […]