Business

China ambassador to Tehran says Chinese firms willing to invest in Iran

China's ambassador to the Islamic Republic of Iran says that Chinese companies are willing to invest in various projects in Iran and to that end, seek a stable environment for investment.

Official: Joint Iran-Saudi economic commission to be held soon

Iran’s deputy foreign minister for economic diplomacy says Saudi Arabia is keen on boosting economic cooperation with Iran, adding a joint commission will be held within three months.

Inauguration of Iran-China freight train

The Iran-China dual-load freight train was officially inaugurated at the Aprin Rail Dry Port near Tehran.

Iran dismisses reports oil tankers involved in collision near Singapore carrying Iranian crude

The Iranian Oil Ministry in a statement on Saturday rejected reports that a large oil tanker that collided with a supertanker and caught fire off Singapore's coast was carrying Iranian crude oil.

Iranian youths’ ‘sacrificial effort’ save country from nationwide blackout

A leak in a turbine condenser knocked a power plan in the southern Iranian city of Ahwaz offline and caused power outage in large parts of the Khuzestan province that is experiencing an average temperate of nearly 50 degrees Celsius.

Iranian oil minister: Oil output raised to 3.6mn. bpd

Iran’s Oil Minister Javad Owji says the country’s outgoing administration has managed to increase crude production to 3.6 million barrels per day.

Official: De-dollarization, Rial’s immunity from sanctions in Iran-Russia monetary agreement

The Deputy for International Affairs at the Central Bank of Iran (CBI) detailed the monetary agreement between Iran and Russia aimed at achieving de-dollarization, stating that this move pushes the Iranian Rial towards being unsanctionable.

Iranian Daily: Complying with FATF most daunting challenge for President-Elect Pezeshkian

The first and foremost challenge for Iran’s newly elected reformist President Massoud Pezeshkian is to fall into steps with the directives of the Financial Action Task Force (FATF) watchdog in order to reap its economic interests, a newspaper argues.

Official: Iranians can withdraw money from Russian ATMs with bank cards

Iran’s Central Bank governor says from late August, Iranians can withdraw money from Russian ATMs with Iranian bank cards.

Iran’s currency strengthens after Pezeshkian wins presidential election

Iran’s national currency, the rial, is still in the doldrums having lost considerable value since last year – but it regained some lost ground at market open on Saturday. It comes after Reformist candidate Masoud Pezeshkian won Iran's presidential election, securing 53.3% of the votes and defeating his principlist rival Saeed Jalili

Iran’s Central Bank chief proposes FATF-like institution for BRICS

In a forward-looking proposal, Governor of the Central Bank of Iran Mohammad Reza Farzin suggested the establishment of an institution akin to the Financial Action Task Force (FATF) among BRICS nations.

Acting president calls on SCO to conduct transaction through Iran

Iran’s caretaker President Mohammad Mokhber says the Shanghai Cooperating Organization (SCO) member states can carry out trade transactions faster and at a lower cost through the North-South Corridor and the southern ports of Iran.

Iran and Turkmenistan sign gas swap deal to supply Turkmen gas to Iraq

Iran and Turkmenistan signed a gas swap agreement that will transfer Turkmen gas to Iraq through Iran.

Iran 4th largest OPEC oil exporter: Report

Tehran has become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales, according to a report.

“Next Iran president should seek experts’ opinions on FATF”

In a recent statement, Ali Akbar Salehi, Iran's former Head of the Atomic Energy Organization, emphasized that whoever assumes the Iranian presidency will certainly have to seek the advice of experts on Iran's decision to join the Financial Action Task Force (FATF). 

Eurostat says Turkey resumed oil imports from Iran after 4 years

Figures by the European Union’s statistics agency, Eurostat, have shown that Ankara resumed importing oil from Tehran in March 2024 nearly four years after it cut shipments to zero to comply with US sanctions on Iran.

EI data finds Iran had 2nd largest growth in oil production in 2023

Figures by a major energy data agency indicate that Iran had the second largest growth in oil production in the world in 2023 despite continued pressure from the US sanctions on its oil exports.

Iran ranks 7th in electricity generation in world

Iran’s minister of energy says the country has experienced a leap in electricity production, citing a recently released report by Energy Institute (EI) on the surge in energy production in different countries.

Iran says Tehran-Moscow MoU on gas transfer to serve bilateral ties, regional interests

A memorandum of understanding (MoU) signed between Tehran and Moscow on potential transfer of Russian gas to Iran would help boost bilateral ties and serve the interests of the two sides and the region, Acting Iranian President Mohammad Mokhber has stated.

Iran and Russia sign strategic partnership deal for gas

Iran and Russia sign a strategic energy deal to transfer Russian gas to the Islamic Republic.

FAO expects further increase in Iran’s grain output in 2024

The United Nations Food and Agriculture Organization (FAO) has forecasted a further increase in Iran’s grain output this year amid endeavours by Tehran to rely more on domestic farming rather than imports.

Iran minister says oil production surged by 1.4mn barrels in current administration

Iran’s crude production increased by 1.4 million barrels per day during the late President Ebrahim Raisi’s administration despite over 600 new sanctions imposed by the West on exports, the country’s oil minister says.

Iran signs contracts worth $2bn to develop oil industry

Iran’s Ministry of Petroleum has signed four new contracts worth over 2 billion dollars with the private sector to develop its oil and gas fields.

Iranian oil min.: Tehran-Moscow ties will continue growing 

Iran's Oil Minister Javad Owji says Tehran will continue the policies of late president Ebrahim Raisi including in the energy sector.

President Raisi: Deep bond between Iran, Azerbaijan unbreakable

Iranian President Ebrahim Raisi says the deep historical, cultural and religious relations between Iran and the neighboring Republic of Azerbaijan are unbreakable.

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