Tag Archives | Turkey

Iran Weary of Trump’s Plans in Iraqi Kurdistan

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. More than two weeks after the Sept. 25 independence referendum in Iraqi Kurdistan, Iran has yet to take any meaningful action against the Kurdish region despite its rhetoric, including Supreme Leader Ayatollah Ali Khamenei’s […]

Iran, Turkey to Finalize Currency Swap Deal

The Governor of the Central Bank of Iran (CBI) Valiollah Seif, who is on an official visit to neighboring Turkey, said the two countries plan to finalize their trade exchanges based on currency swap. In remarks released on Tuesday, Seif referred to efforts to realize the goal of $30 billion of annual bilateral trade between […]

Iran, Turkey sign 4 Cooperation Pacts

Iran and Turkey have signed four Memorandums of Understanding (MoUs) to deepen relations between the two countries: between the Iranian Ministry of Economic Affairs and Finance and the Turkish Ministry of Customs and Trade; between the Central Bank of Iran (CBI) and the Turkish Central Bank; between the National Library of Iran and the Turkish […]

Iran Replaces Iraq as Biggest Crude Oil Exporter to Turkey

By John Lee. Turkey’s imports of crude oil from Iran have increased 142 percent in the first seven months of 2017, from 3 million tons to 7.4 million tons, making it the country’s biggest supplier of crude. According to the report from Daily Sabah, Iraq‘s crude oil exports to Turkey decreased 20.5 percent from 5.4 […]

Iran, Turkey Agree to Broaden Military Alliance

The Armed Forces of Iran and Turkey agreed on Monday to promote cooperation in various arenas, as in offering help for the persecuted Muslim people of Myanmar, Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri announced. Speaking at a joint press conference with his Turkish counterpart General Hulusi Akar in […]

Cargo Line Opened between Qatar, Turkey via Iran

Qatar has opened a land and sea cargo line with Iran and Turkey in a bid to reduce the Arab country’s cargo shipping costs by 80 percent, a report said. Former editor-in-chief of Qatar’s al-Sharq newspaper, Jaber Al-Harmi, said via twitter that the Persian Gulf Arab state has opened a land and sea cargo line […]

Ex-Minister Charged with Conspiring to Evade Sanctions

By John Lee. A former economy minister and other high-profile Turkish figures have been charged with conspiracy to evade US sanctions on Iran. The indictment charges Mehmet Zafer Caglayan, along with the former head of Turkey’s state-owned Halkbank and with some of his deputies. According to a report from The Washington Post, the investigation had […]

Iranian Exports to Turkey Up 80% in 7 Months

The total value of Iran’s exports to Turkey during the first seven months of the current year has increased by 80 percent, compared to the same period last year, data released by Turkey showed. Iran exported $4.5 billion worth of goods to Turkey from January to July 2017, indicating an 80% increase compared to a […]

Russian Companies Submit Plans to Develop Iran Oil Fields

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran. Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran’s Ministry of Petroleum announced on Monday. A memorandum of understanding for […]

Iran, Turkey move to re-establish Role as Regional Backbone

By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran and Turkey are among the oldest rivals in the Middle East. This rivalry between the former Ottoman and Persian empires has calmed in recent decades, yet, with the spark of the Arab Spring, the two […]

Iran, Russia, Turkey Sign $7bn Drilling Deal

Turkey’s Unit International announced it has signed a $7 billion agreement with Iran’s Ghadir Investment Holding and Russia’s state-owned Zarubezhneft to drill for oil and natural gas in Iran. In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields […]

Iran to Hold Exhibition in Istanbul in October

An exhibition of Iranian products and goods is planned to be staged in the Turkish city of Istanbul in late October, according to the Iranian Embassy in Turkey. The Iran Solo Exhibition will open on October 25 and last until October 28, the commercial attaché of the embassy, Hamid Zadboum announced. It will be launched […]

GIC Signs Agreement with Unit International, Zarubezhneft

Iran’s Ghadir Investment Company has signed a trilateral agreement with Russia’s Zarubezhneft and Turkish energy company Unit International to finance oil and gas development projects. Signed in Moscow on Monday, the deal concerns development of oil and gas projects in or outside of Iran. Based on the agreement, the three companies will form joint ventures […]

Trump’s Options on the Nuclear Deal with Iran

By Seyed Hossein Mousavian for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. While President Donald Trump’s State Department has twice now certified Iranian compliance with the July 2015 nuclear deal, there are indications that Trump is intent on scuttling his predecessor’s signature foreign policy achievement. However, […]

Iran Exports First Catamaran Ship to Turkey

Iran has sold its first domestically-made catamaran ship to neighboring Turkey, the managing director of the Arvandan Shipbuilding Company, the manufacturer of the vessel, announced. Speaking to reporters at a press conference on Thursday, Hossein Qorbani underlined that one of the features of the Iranian-made catamaran is that it is able to sail into shallow […]

MPs to Examine Water Supply Problems

MPs to Examine Water Supply Problems Created by Neighbors Iranian lawmakers plan to establish “the water security committee” to examine the issue of building dams on rivers flowing into Iran by some neighboring countries, a member of the parliament’s National Security and Foreign Policy Commission announced. Speaking to the Tasnim News Agency, Abolfazl Hassanbeigi said […]

Saudi-led Qatar blockade brings Iran, Turkey together

By Saeid Jafari, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The power constellations in the Middle East are growing ever more complex. On June 5, Saudi Arabia along with the United Arab Emirates, Bahrain and Egypt broke off ties with Qatar, accusing it of […]

Qatar Says in Talks with Iran on Food Supplies

A Qatari official said Doha is in negotiations with Tehran and Ankara to secure its food and water supplies after Saudi Arabia and the United Arab Emirate (UAE) cut trade and diplomatic ties with the Persian Gulf Arab state. “We are in talks with Turkey and Iran and other countries,” said the official, speaking on […]

Iran, Turkey sign Trade Deals worth $100m

By John Lee. Iran’s Social Security Investment Company (Shasta) has reportedly signed contracts worth $100 million with Turkish firms for construction projects and modernisation of the Arvandan shipbuilding facilities in Khuzestan province. The AFP report also says that the deal includes Iranian construction of a $10-million catamaran — a high-speed double-hulled passenger vessel with an […]

Iran Giving Turkey Free Gas for Past Debts

Iran’s Oil Minister Bijan Namdar Zanganeh said the country is currently not receiving any money from Turkey for the export of gas, because Tehran has to clear its debts under an International Court of Arbitration ruling on a dispute over gas pricing. Zanganeh told reporters on Saturday that Iran is currently not receiving any money […]