Economy

Report: $7bn in Iranian frozen funds likely to be released

A regional official, identified in a Tasnim News Agency report as “possibly Oman’s foreign minister”, will travel to Tehran on Tuesday to finalize the mechanism for the release of seven billion dollars in frozen Iranian assets.

Domestically built refinery begins exporting different products

The head of Iran’s Qeshm Free zone has announced the loading of the first shipment of products from Behin Palayesh Qeshm Ultra-heavy Refinery this year amid US sanctions.

Iran, Russia sign deal for cooperation in exhibition industry

Iran and Russia have signed an agreement to expand bilateral cooperation in the exhibition industry, as the two countries work to promote commercial ties and investments.

Iran, Russia hold major trade conference

The Islamic Republic of Iran and the Russian Federation have held a major bilateral trade conference.

IRNA: Iran to receive $7bn in frozen funds

Reports say seven billion dollars of Iran's money, frozen due to the US sanctions, will be transferred to the country’s accounts under a new agreement.

Report: More of Iran’s frozen assets to be released

Reports say Iran has managed to get a substantial amount of his frozen assets unlocked in a foreign country due to the US sanctoins.

Iran MP: No country has so far released frozen Tehran assets

A member of the Iranian Parliament’s National Security Commission says consultations were held with several countries, where Iranian assets were frozen due to US sanctions, however, this had no result.

Iran’s non-oil trade hits record high in years: Official

Iran’s non-oil trade hit a record high figure in the Iranian calendar month ending March 20, an Iranian customs official says.

Iranian delegation visiting Russia for expansion of trade ties

An Iranian trade delegation is visiting Russia with the aim of expanding exports and buying livestock inputs and oil seeds from the country.

Iranian president says economy not tied to JCPOA

Iran’s President Ebrahim Raisi says his administration has not tied the Iranian people’s lives to the 2015 nuclear deal, JCPOA.

“Iran’s foreign trade hit 162mn tons last year”

The head of Iran’s Customs Organization has said Iran’s non-oil trade with foreign countries hit a record of 162 million tons ($100 billion) in the Persian year 1400. Alireza Moghaddasi said the figure represented a 38 percent increase compared to the year 1399.

Iran plans a $200bn investment in oil industry

Iran’s Oil Minister Javad Oji says the country needs a $200bn investment in the upstream and downstream and petrochemical industries, the bulk of which has been raised under 50 contracts.

Envoy says Iran, Russia to discuss banking cooperation

Iranian and Russian officials will hold a meeting on topics of banking and financial cooperation soon, Iranian Ambassador to Russia Kazem Jalali said.

‘Iranians awaiting good news from Vienna talks’

The head of Tehran’s Chamber of Commerce has said millions of Iranians are awaiting the final result of the Vienna talks.

Iran’s leader to officials: Do not tie economy to sanctions

The leader of Iran’s Islamic revolution has reiterated that the country’s economy must not be tied to the US sanctions.

Iran’s steel exports surpass 6.4 million tonnes in 11 months

Iran exported upwards of 6.4 million tonnes of steel and steel products in the eleven months to late February 2022, registering a 9%-rise year on year.

‘Clandestine finance system helped Iran withstand US sanctions crush’

Iran established a clandestine banking and finance system to handle tens of billions of dollars in annual trade banned under US-led sanctions, according to Western diplomats, intelligence officials and documents. 'It enabled Tehran to endure the economic siege، giving it leverage in multilateral nuclear negotiations'.

Armenian attaché invites Iranians to take part in his country’s tenders

Armenia’s economic attaché in Iran has invited Iranian businesspeople to participate in his country’s international tenders.

Iran exports to SCO members increases 41 percent

The spokesman for Iran’s Customs Organization says in the first 11 months of this Persian year, the country and the Shanghai Cooperation Organization traded over 48.9 million tons of goods worth more than 32.7 billion dollars.

Officials: Iran-Turkmenistan trade growing

The amount of commodities exported by rail to Turkmenistan via the border in the northeastern Iranian province of Khorasan Razavi has crossed 1.7 million tonnes since March, 2021.

Iran’s collection of oil and gas revenues increases 2.5 times

Iran’s oil minister has said in the current Persian year, the collection of revenues from selling oil and condensate, petroleum products, petrochemical products and net exported gas increased 2.5 times while as for gas, this figure has reached 3.5 to 4 times.

Historic growth in Iran’s foreign trade

Official figures show Iran's foreign trade increased by 50% in January and February of this year.

Iraq’s Soleimanieh governor invites Iranians to invest in regional projects

The governor of Iraq’s Soleimanieh province has invited Iranian investors to participate in 264 projects in the autonomous region in northernIraq.

“Iran’s exports to Iraq to reach over $9 billion by year’s end”

The chairman of the Iran-Iraq Joint Chamber of Commerce says in the first 11 months of this Persian year, the value of Iran's exports to Iraq reached $8.2 billion, and exports to the country are expected to exceed $9 billion by the end of the year.

Iran storing fuel for future export as energy crisis looms over Europe: Official

Iran is storing fuel for future export ahead of expected hikes in energy prices as a result of the Russia-Ukraine conflict, an Iranian official says.

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