Tag Archives | United States

Linglong “gets Cold Feet with Iran Project”

By John Lee. China’s Shandong Linglong Tire Co (Linglong) is reportedly now hesitant about going ahead with a previously announced contract to supply technology to a greenfield tire plant in south-eastern Iran, according to an ERJ source. “They are asking for more time because of pressures by Trump,” the industry insider told ERJ. The contract, […]

Iran Replaces US Dollar with Euro

Iran Replaces US Dollar with Euro as Official Reporting Currency The Iranian cabinet on Wednesday approved a plan to replace the US dollar with euro in reporting foreign currency amounts. During a meeting chaired by Iranian President Hassan Rouhani in Tehran on Wednesday, the cabinet obliged all ministries, and governmental organizations and companies to use […]

5 potential scenarios for Iran deal

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. President Donald Trump’s tapping of Mike Pompeo and John Bolton for secretary of state and national security adviser, respectively, should do away with any pretense that the US administration wishes to “fix” the […]

Oberbank puts Iran Deal ‘On Hold’ over Trump

Oberbank, Austria’s seventh-largest bank, has put projects “on hold” due to the uncertainties surrounding the 2015 nuclear deal between Tehran and world powers, a report said. In a presentation to shareholders by Oberbank CEO Franz Gasselsberger, said the financing of projects in Iran remains “on hold” because the current US policy “complicates the business massively”, […]

New US Sanctions on Iran: Full Details

On Friday, in a coordinated action with the U.S. Department of Justice, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one Iranian entity and 10 Iranian individuals under Executive Order (E.O.) 13694, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,” as amended. The entity and individuals designated engaged in the theft of valuable intellectual property and data from hundreds of U.S. and third-country universities and a media company for private financial gain. “Iran is engaged […]

Iran’s Break with Dollar Easier said than done

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. A little over two weeks ago, Iran eliminated another function of the US dollar in its internal workings in a move positioned amid yearslong plans to reduce dependency on the greenback. The consequences will […]

Total to Seek Waiver If US Reimposes Sanctions on Iran

Total CEO Patrick Pouyanne said on Sunday that the French oil and gas company would seek a waiver to continue the development of an Iranian gas field should the United States decide to re-impose sanctions. Speaking in an interview with The National newspaper while on a visit to the United Arab Emirates, Pouyanne said Total’s […]

Can European Business and Tech save Iran 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. One of the current concerns of international companies planning to do business in Iran is the threat of a US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) and the reintroduction of US […]

Tillerson departure Threatens Iran Nuclear Deal

By John Lee. US President Donald Trump’s firing of Secretary of State Rex Tillerson may hasten the demise of the Iran nuclear deal, the Joint Comprehensive Plan of Action (JCPOA). Tillerson’s replacement, CIA chief Mike Pompeo, has expressed hawkish views on Iran and the nuclear deal. Trump delivered an ultimatum to European powers in January, […]

Questions as Iranians claim US Licensing Plane Sales to Iran

By Saeed Jalili for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Questions abound as Iranians claim US Treasury licensing plane sales to Iran Questions have emerged about whether the US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued new licenses to Canadian plane manufacturer […]

Trump extends “National Emergency” with Iran

US President Donald Trump (pictured) has renewed the United States’ national emergency with respect to Iran for one more year, beyond 15th March, 2018. In a Presidential statement dated 12th March, President Trump said: “Actions and policies of the Government of Iran, including its development of ballistic missiles, support for international terrorism, and human rights […]

Iran Moves Closer to Ditching Dollar in Trade Activities

Iran announced that purchase orders by merchants that are based on the dollar would no longer be allowed to go through import proceedings. By announcing the policy, which is in line with an official request by the Central Bank of Iran (CBI) and is specifically meant to address fluctuations in market rates of the dollar, […]

US Court Turns Away Dispute Involving Bank Melli

The US Supreme Court Monday declined to take up Iranian government-owned Bank Melli‘s appeal of a lower court ruling that allowed victims of militant attacks allegedly backed by Iran to seek millions of dollars in compensation from the bank. The justices left in place the lower court’s ruling that allowed some plaintiffs, trying to satisfy […]

US Making Economic War on Iran: General

The US government has formally waged an economic war against Iran, with its Treasury Department serving as the war headquarters and dollar being used as the pivotal weapon, Head of Iran’s Civil Defense Organization Brigadier General Gholam Reza Jalali said. Addressing a conference on civil defense tactics in the banking industry, held in Tehran on […]

Iran to Withdraw from JCPOA If Benefits Remain Elusive

Iran will withdraw from the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), if there is no economic benefit and major banks continue to avoid cooperation with the Islamic Republic, the deputy foreign minister said on Thursday. Under the deal with Britain, China, France, Germany, Russia and the United States, Iran […]

US Moves Against “Illicit Iran Aircraft Network”

The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has acted against Turkish national Gulnihal Yegane and three affiliated Turkish companies who are involved in illicitly procuring and supplying Iranian airlines with U.S.-origin aircraft engines and spare parts. The action, called a “temporary denial order” (TDO), suspends the export privileges of Gulnihal Yegane (“Yegane”), […]

What Trump needs to know about Iranians

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. Ever since the 1979 Islamic Revolution, the implicit goal of US strategy toward Tehran has with rare exception been to subvert the Iranian political system. Under President Donald Trump, regime change has been adopted […]

Total CEO Urges Trump to Honor JCPOA

The head of French oil major Total has urged US President Donald Trump to stick with the 2015 nuclear deal between Tehran and world powers, a report said. Total’s CEO Patrick Pouyanne said he had raised the topic of Iran with Trump at a dinner in Davos in January, and asked the president to keep […]

“No US License Needed” to Buy Sukhoi Jet

The modifications that Sukhoi has made to its Superjet-100 passenger plane would allow the Russian aircraft manufacturer to sell the plane to Iran without the need for a license from the US Treasury’s Office of Foreign Assets Control (OFAC), an Iranian official announced. Speaking to Tasnim on Monday, Secretary of Association of Iranian Airlines Maqsoud […]

Rouhani orders Armed Forces to Sell all Business Assets

By John Lee. Bloomberg quotes President Rouhani as saying that Iran’s armed forces, the largest state pension fund, and other branches of the government, must withdraw from all their commercial holdings to help save the economy. Rouhani said: “Not only the Social Security Organization but all government sectors, including banks, have to divest their business holdings, […]