Economy

Iran, Russia eye further expansion of trade, energy ties

Russian deputy prime minister says trade between Tehran and Moscow boosted by 81 percent last year and added the two sides need to further increase their ties to withstand the geopolitical changes.

Iran, Oman sign MoU on extension of bilateral trade cooperation

Iranian Trade Minister Seyed Reza Fatemi Amin and his Omani counterpart Qais bin Mohammed Al Yousef have signed an agreement in Muscat on Monday.

Iran, Kazakhstan mull improving economic relations

Iran’s Minister of Industry, Mine and Trade Seyed Reza Fatemi-Amin, in a meeting with Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan, Bakhyt Sultanov, described joint ventures as a strategic way to deepen economic relations between the two countries.

Iran FM calls for increase in trade ties with Bulgaria

The Iranian foreign minister has called for the increase in trade ties between the Islamic republic and Bulgaria. Hossein Amir Abdollahian, raised the issue in a meeting with Ms. Velislava Petrova, Bulgaria’s Deputy Foreign Minister in Tehran on Sunday.

Govt. rejects reports on fuel prices rise

Iran’s government spokesman has dismissed reports that the president is considering a rise in gasoline prices, after Ebrahim Raisi’s comments on “difficult economic decisions” triggered panic about further economic woes, amid raging inflation.

Iran’s president unveils 82 projects

Iranian President Ebrahim Raisi has unveiled 82 industrial, construction and agricultural projects in Iran’s free and special trade zones via video conference.

Iran blocks over 9,000 bank accounts with illegal foreign currency transactions

Iran’s Intelligence Ministry says it has recently blocked more than 9,000 bank accounts suspected of involvement in unlawful transactions of foreign currency and cryptocurrency.

CBI chief reports rise in Iran’s foreign currency revenues

The governor of the Central Bank of Iran (CBI) says the country has witnessed a rise in its foreign currency income over the past months and has thus no problem with allocating foreign currency to the provision of essential goods.

Qatari emir’s visit to Iran to herald better future for economic ties: Official

An Iranian official says Qatari Emir Tamim bin Hamad Al Thani’s upcoming visit to Iran will be the start of better economic relations between Tehran and Doha.

French envoy says trade between Iran, Europe standing at $6.5 billion

The French ambassador to Tehran says volume of trade between the European Union and Iran reached 5 billion euros last year. Philippe Thiebaud said this figure is considerable.

Prices of some essential items soaring in Iran as govt. eliminates flour subsidy

Iranians have, in recent days, witnessed a steep hike in prices of essential items, mainly wheat-based food, in the aftermath of a government decision to eliminate the subsidy for industrial use of flour.

Official: Goods smuggling surged 20-fold this year

A senior official at Iran’s Ministry of Agricultural Jihad says goods smuggling has surged 20-fold this year compared to the previous year.

Official: Iran-Syria trade grew 60% last year

The chair of the Iran-Syria joint chamber of commerce says mutual trade surged by 60 percent in the year to march 2022.

Iran’s trade with SCO member states grew 33% last year: Official

Iran’s bilateral trade with the member states of the Shanghai Cooperation Organization (SCO) grew 33 percent in the last Persian-calendar year (ended March 20), the Islamic Republic of Iran Customs Administration says.

Iran’s economic growth rate was 5.8% last fall: Central Bank

Iran’s Central Bank has released the economic indices for the third quarter of the last Persian-calendar year (ended March 20).

‘Iraq to begin repaying energy debts to Iran in days’

The head of the Iran-Iraq Joint Chamber of Commerce says Baghdad will, in the coming days, resume the process of settling the debts owed to Tehran for its energy purchases, as part of an agreement newly reached between the two neighbors.

Iran registered positive balance of trade last month: Customs official

An Iranian customs official says the Islamic Republic registered a positive balance of trade in the first month of the Persian calendar year (ended April 20).

Iran, Azerbaijan stress joint economic projects in Azeri liberated areas

An Iranian official says Tehran and Baku have stressed implementing joint economic projects in the recently liberated areas of the republic of Azerbaijan.

Private sector official urges government help to boost trade with Turkey

Chairman of the Joint Chamber of Commerce of Iran and Turkey has called for a “positive” attitude of the government to trade with neighboring countries, saying this can remove political problems and trade barriers and will help expansion of economic ties.

Value of Iran-China trade increases to $3.85bn in 3 months

The value of trade between Iran and China reached $3.85 billion in the first three months of 2022, up by 18 percent compared with the same period last year, new data show.

Iran’s exports to Africa grow by 107%

Iran’s exports to Africa grew by 107% during the last Iranian calendar year which ended on March 20, the director general of the Arab and African Office of Iran's Trade Promotion Organization has said.

Iran official calls for deepening trade ties with Russia in the wake of war

The head of Iran’s Trade Promotion Organization has predicted it’s highly likely the Ukraine war will drag on and further sanctions will be slapped on Russia.

Iran pursuing talks on release of frozen assets

The Central Bank of Iran (CBI) has announced fresh details on the unfreezing of the country’s assets, blocked due to the US sanctions.

‘Vice-president of Iran’s Football Federation arrested’

The vice-president of the Iranian Football Federation has been reportedly arrested by Iranian Intelligence Ministry agents in connection with a cryptocurrency scam.

Iranian minister of economy cancels US visit and World Bank meeting

Iran’s minister of economy has cancelled his visit to the US due to a delay on the part of American officials to issue visa for Seyyed Ehsan Khandouzi and his entourage.

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