Economy

Iranian min.: Tehran, Moscow to increase trade volume to $10bn

Iran’s Minister of Economic and Financial Affairs Ehsan Khandouzi has said the Islamic Republic and Russia are poised to increase their annual trade volume to 10 billion dollars.

Raisi Moscow visit to forge world’s largest gas reserve holders’ strategic bond

According to IRNA, Russia and Iran, as the world’s first- and second-largest holders of natural gas reserves, are keen to forge a strategic bond and develop their economic relations during the landmark visit of the Iranian president to Moscow.

Iran oil, economy ministers discuss ties with Russian counterparts

Iran’s oil and economy ministers held talks with their Russian counterparts in Moscow, exchanging views on bilateral relations.

Envoy: Iran exclusive exhibition in Tajikistan a desirable opportunity to boost trade ties

The Iranian ambassador to Tajikistan said his country’s sixth exclusive exhibition in Tajikistan would be a desirable opportunity for the economic development.

Iran’s plan to eliminate 4,200-toman currency met with mixed reactions

The decision to eliminate the government currency has garnered mixed reactions in Iran.

Iran joins countries exporting energy services to Europe

Iran joined the countries exporting energy services to Europe for the first time by signing a memorandum of understanding (MoU) with Romania.

Ministry: Iran’s rail transit highest in 10 years

The Iranian Roads and Urban Development’s report on nine-month rail transit indicates that the sector has recorded the highest increase over the past 10 years.

Central Bank Chief: Iran inflation down 17%, economic growth likely 8%

The Central Bank of Iran (CBI) governor on Sunday said the country’s point-to-point inflation has witnessed a downward trend during the four months to late Dec.,

Iranian delegation to visit Iraq to boost trade ties

A delegation of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is scheduled to head to Iraq Sunday.

Iran minister: Economic deals with China to be finalized soon

Iranian Finance and Economic Affairs Minister Ehsan Khandouzi on Saturday announced that the country’s economic contracts with China will be finalized soon.

Oil minister promises good news on Iran-Russia energy cooperation

Iranian Oil Minister Javad Owji on Saturday said Tehran and Moscow have held talks on bilateral cooperation in different areas of the economic sector, promising good news on the two countries’ cooperation in the energy sector.

Official: Smuggled Iran fuel fetches UAE over $20bn annually

An Iranian official says the fuel smuggled from Iran to the United Arab Emirates is used for bunkering vessels, earning the Arab state more than $20 billion per year.

‘Iran, Syria discussed activating strategic economic cooperation deal’

The Syrian economy minister says he recently exchanged views with Iran’s minister of roads and urban development on ways to operationalize the long-term strategic economic cooperation deal inked in 2019.

Iran’s annual non-oil exports expected to touch $46bn

The Islamic Republic of Iran Customs Administration (IRICA) predicted the country’s annual non-oil exports would amount to $46 billion in about two months.

Iran opens first extra heavy crude oil refinery on key Qeshm Island

Iran has officially launched its first-ever specialized refinery designed to process super heavy crude oil on the southern Qeshm Island, as the country keeps promoting its energy sector regardless of tough US sanctions.

Ali-Asgari dismisses resignation from Persian Gulf holding as ‘fake’

Despite widespread criticism, Abdolali Ali-Asgari has denied media reports on his resignation as the managing director of a giant Iranian petrochemical company.

Minister: Iran, Syria to establish joint free zone

Iran’s roads and urban development minister on Thursday said Tehran and Damascus reached an agreement to establish a joint free zone.

Iran’s nine-month trade with neighbors tops $36.8bn, up 42%

Iran’s trade with its 15 neighboring states in the first nine months of the Iranian calendar year (starting March 21, 2021) witnessed a 42 percent growth in terms of value in comparison with the figure of its corresponding period in the previous year, said the head of the Islamic Republic of Iran Customs Administration (IRICA) on Thursday.

Iran’s nine-month exports to Syria up 90%

The head of Iran-Syria Joint Chamber of Commerce on Wednesday announced a 90 percent growth in Iran’s exports to Syria during the nine months to December 2021.

Iran parliament approves generalities of next year’s budget bill

The Iranian parliament has approved the generalities of the budget for the next Iranian calendar year that begins on March 21. The lawmakers voted for the generalities of the budget bill with 174 votes in favor, 76 against and 6 abstentions.

Iran govt. berates MPs for “being irresponsible” toward national economy

An Iranian state-run newspaper has accused Parliament of not caring enough about the country’s economy.

Bagheri: South Korea obliged to release Iran’s assets

Iran's Deputy Foreign Minister Ali Bagheri Kani has stressed that regardless of the outcome of the talks between Tehran and P4+1 group in Vienna, the South Korean government is obliged to release blocked Iranian money

Raisi: Expanding Tehran-Yerevan economic cooperation will enhance regional security

Iranian President Ebrahim Raisi has stressed the importance of boosting trade and economic exchanges between the Islamic Republic and Armenia.

‘Tehran-Beijing partnership pact facilitated Iran SCO membership’

The head of the Iran-China Chamber of Commerce says the signing of the Tehran-Beijing cooperation document shows Iran has global trade partners.

Iran begins natural gas swap with Turkmenistan, Azerbaijan Republic

Iran’s Oil Ministry says the country has begun natural gas swap with Turkmenistan and the Azerbaijan Republic as part of a trilateral agreement recently signed between the three sides.

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