Tag Archives | United Arab Emirates (UAE)

Qatar, Iran Boosting Trade, “Benefiting from Blockade”

The move by Iran to increase bilateral trade with Qatar, following a Saudi-led blockade, has benefited the two countries, according to an expert. “Trade between Iran and Qatar increased by 117 percent in less than six months and it shows the short-term effect of this crisis and bodes well for both countries in the long […]

China, Iraq are Iran’s Biggest Non-Oil Customers

By John Lee. Iran’s Trade Promotion Organization (TPOI) has issued data showing that five countries — China, Iraq, UAE, South Korea and India — accounted for 68.7 percent of Iran’s total non-oil exports in the first five months of the current Iranian fiscal year (March 20-Aug. 22). Total non-oil exports (including gas condensate) fell 5 percent […]

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 […]

Singaporean Firm Fined for Violating Sanctions

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced a $415,350 settlement with COSL Singapore Ltd, headquartered in Singapore, to settle COSL Singapore’s potential civil liability for 55 apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR). Between on or about October 7, 2011 to […]

Saudi Arabia engages Iraq to Iran’s Dismay

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. Pictures displaying Iran’s Quds Force commander Gen. Qasem Soleimani during the battles with the Islamic State stopped circulating online with the military phase that ended in the liberation of Mosul. The Iranian presence and […]

Iran Says Ready to Revive Crescent Deal

Iranian Minister of Petroleum Bijan Zangeneh says Iran has notified Crescent Petroleum of its readiness to export natural gas to the Sharjah-based company. Speaking in an interview with Iran Daily, the official said: “We have informed Crescent Petroleum that we are ready to recover gas exports to the company and have carried out all the […]

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 Opens Airspace to Qatari Flights

An Iranian civil aviation official said Qatari aircraft bound for Europe or Africa can fly over Iran’s territory as of Tuesday, after four regional Arab states decided to suspend diplomatic ties with the Doha government and suspend air transport with Qatar. An official at Iran’s Airports Company said on Tuesday morning that Qatari airlines, including […]

UAE’s ENOC Clears Iran Oil Dues

The Emirates National Oil Company (ENOC) has paid its outstanding oil dues to Iran, a report said. Iran received more than $4bn from ENOC as part of the UAE retailer’s settlement of its debts owed to Iran for pre-sanction oil and gas purchases, the Qatar-based Al Jazeera broadcaster reported on Tuesday. The report added that […]

US tries to Control pro-Iran Factions in Mideast

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News.  US mulls how best to Control pro-Iran Factions in Mideast As the administration of US President Donald Trump looks ahead to a post-Islamic State (IS) status in the […]

Rotana to Open 1st Hotel in Iran ‘Soon’

The head of Rotana hotels group, based in Abu Dhabi, said it plans to open its first hotel in Iran in less than a year. “We have signed hotels in Tehran, Mashhad and Isfahan. We expect to open our first hotel in Mashhad, a shrine city, by the first quarter of next year,” Rotana’s President […]

Imports and Exports Increased, China is Main Partner

Iran’s non-crude-oil exports grew by 3.54 percent in the year ended 20th March 2017, reaching $43.930 billion. During the period, imports increased 5.16 percent to $43.684 billion. Main export items During the period under consideration, the main export items consisted of gas condensate with value of $7.320 billion, light oils and products except gasoline ($2.479 […]

Iran Increases Asphalt Production, Seeks Shippers

By John Lee. Iran’s biggest asphalt producer is reported to be planning to boost output by almost 15 percent in the next two years. According to a report from Bloomberg, Hormoz Pasargad Bitumen Products Co. intends to send the increased supply to overseas buyers led by India and the United Arab Emirates (UAE). Managing Director […]

US: Eleven Sanctioned for Transfer of “Sensitive Items” to Iran

From US State Department: On March 21, the United States imposed sanctions on 30 foreign entities and individuals in 10 countries pursuant to the Iran, North Korea, and Syria Nonproliferation Act (INKSNA). These sanctions apply to the specific individuals and entities which will be listed in the federal register and will be in effect for […]

Bitzer Establishes Subsidiary in Iran

By John Lee. A specialist in refrigeration compressors has announced that it is expanding its presence in Iran. German company Bitzer said it as been “well represented in the Iranian market for decades“, with up to 500,000 running compressors now in use, but now it is establishing its own subsidiary that reports to Dubai. However, […]

Iran’s Mega Deal with Airbus inches closer to Finalization

By Changiz M. Varzi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. After the United States issued a second license to Airbus to sell 106 planes to Iran on Nov. 21, the French aircraft manufacturer once again made headlines in Iranian media on Nov. 23. […]

Financing Arranged for Airbus Iran Deal

By John Lee. Iran has reportedly reached a deal with the United Arab Emirates’ Dubai Aerospace to finance the first 17 jets it plans to buy from Airbus. Reuters quotes a senior Iranian official as saying, “we have a deal to finance the first 17 aircraft.” Under the deal, the leasing company would take over […]

Did Rouhani Ban Film about Jailed Iranian-American Businessman?

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Did Rouhani stop screening of hardline film about jailed Iranian-American? Ever since taking office, Iranian President Hassan Rouhani has come under increasing pressure from hard-liners who have been trying to tie his administration to the […]

India Drops Plan to Buy UAE Oil, Turns to Iran

India plans to buy 6 million barrels of Iranian crude oil after its talks with the United Arab Emirates’ national oil company for supplies came to a close over commercial terms, industry sources said. Three industry sources with direct knowledge of the matter said India would buy 6 million barrels of Iranian Mix crude from […]