Economy

Iran’s First Vice President Mohammad Mokhber says US-led sanctions cannot stand in the way of trade between Iran and Russia، highlighting the role of free trade zones in bypassing the embargoes and expanding bilateral ties.

The secretary general of Iran’s petrochemical industry guild union says new sanctions on the country will have no impact on its activities, although the bans could be part of a propaganda campaign and psychological warfare.

Iranian First Vice President Mohammad Mokhber has said the Islamic Republic and Russia enjoy good ties that have been expanding.

Iranian First Vice President Mohammad Mokhber, who is on a visit to Russia, says cooperation agreements between Iran and Russia have to be seriously implemented based on a detailed and scheduled plan.

An Iranian official says Turkmenistan has cancelled heavy tariffs for Iranian transit of goods using the country’s borders and territory as of October 1.

Iran’s exports of industrial products have increased by 70% during the tenure of Ebrahim Raisi, who took over as Iranian President in August 2022.

The trade between Iran and China has grown by 19 percent to hit 11.16 billion dollars since the turn of the year compared to the same period the previous year, new official figures from China show.

Iran has experienced a 40-percent increase in its exports to African countries during the first five months of the Iranian year, from March to August, the spokesman for the Iranian customs announced.

Iran’s President Ebrahim Raisi says his administration’s top priority is to interact with neighbors and regional countries.

The spokesman of the Islamic Republic of Iran Customs Administration reports a 40-percent rise in the country’s exports of non-oil commodities to members of the Economic Cooperation Organization (ECO) in the first five months of this year, compared to the same period in 2021.

The spokesman for Iran’s Customs Organization says the country's trade with members of the Shanghai Cooperation Organization in the first five months of the current Iranian year of 1401 was valued at 17 billion dollars.

An opinion poll finds that a majority of investors in Iran do not have a “clear” picture of the country’s future, given the economic woes facing the Islamic Republic, saying they are now “walking the razor’s edge.”

Over 33 tons of goods worth 20.6 billion dollars have been exchanged between Iran and its neighboring counties during the past five months, showing a significant rise compared to same period last year, the spokesperson of Iran’s customs administration says.

The head of the Central Bank of Iran (CBI) says Tehran and Moscow have already started using their national currencies in certain fields of trade and are set to de-dollarize other sectors of their commercial relations as well.

Iran’s minister of economy and finance says the Islamic Republic’s oil income has increased five-fold compared to last year and eleven-fold compared to the year before despite unrelenting US-led sanctions, raising hopes that many of the economic hardships in the country will soon be tackled.

Iran's minister of industries, mining and trade says the country and Russia have started doing business in their national currencies, namely rial and ruble.

Iranian and Russian car manufacturing companies have signed 12 cooperation deals worth 700 million euros on the sidelines of an international automobile exhibition in the Russian capital Moscow.

The prime minister of Iraq’s Kurdistan Region says the local government is prepared to increase economic cooperation with Iran, especially the neighboring Iranian province of West Azarbaijan.

Iran’s oil minister says Russia is leading the development projects of seven oil and natural gas fields in Iran and the two sides are negotiating on contracts for 14 other fields.

A spokesman for Iran’s Ministry of Industry, Mining and Commerce says the country’s biggest exhibition presence will kick off on Monday in Moscow.

The chairman of the Iran-Iraq Chamber of Commerce says the value of trade between Tehran and Baghdad will reach the 9-billion-dollar mark in seven months, despite the tough US economic sanctions in place against Iran.

The Iranian parliament has released a scathing report involving a 3-billion-dollar corruption case in a mega-scale steel company’s management and financial transactions after a 19-month investigation.

The Western sanctions on Russia over the conflict in Ukraine has provided a new opportunity for Iran’s automobile and auto parts industry to gain a firm foothold in its northern neighbor’s markets, an Iranian official says.

Iran and Pakistan are expected to sign a free trade agreement (FTA) within the next six months, a senior Pakistani government official has said.

During the first year of the 13th Iranian administration under President Raisi, the Islamic Republic’s foreign trade grew by an unprecedented 48%.