Economy

Iran Economy News

Looking at Iran’s economy on a macro scale, including the big decisions and policies that would shape the markets today and tomorrow.

Foreign Ministry Explains Why Iran Not Invited to FATF Meeting

Iranian Foreign Ministry Spokesman Bahram Qassemi has reacted to media reports about the reason why Iran has not been invited to attend an upcoming meeting of the Financial Action Task Force (FATF) in Paris.

Iran Signs MoU with Russia, Kazakhstan for Free Trade

Russia, Kazakhstan and Iran have signed a memorandum of understanding for cooperation in wheat trading, taking another step towards setting up a free trade zone.

Iran’s Economy to Undergo Structural Changes upon Leader’s Order

A senior lawmaker says Iranian officials will in coming weeks start debating a structural shakeup of the economy, which had been stressed by Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.

Iraq Allows Iranian Traders to Open Accounts in Its Banks

Iranian traders can open accounts with Iraqi banks to carry out their transactions under a new payment system between the two countries, Iran's central bank governor Abdolnaser Hemmati said Wednesday.

Iran Welcomes Implementation of Europe’s Financial Mechanism

Iranian Foreign Ministry Spokesman Bahram Qassemi says Tehran welcomes the EU’s announcement of its special financial mechanism for trade with Iran, but considers it as a first step that should be followed by quicker implementation of other commitments.
FATF

‘US Exit of Nuclear Deal Makes Tehran Hesitant Regarding FATF’

The US withdrawal from the 2015 Iran nuclear deal, for which Iran made lots of concessions, conjures up "bitter memories" that makes Iran undecided to give further concessions to anti-money laundering and terrorism laws, a former MP and political analyst said.

Shipping Line Between India and Chabahar Port Established

The first Indian cargo entered Chabahar’s Shahid Beheshti Port on Sunday, formally establishing shipping lines between India’s port and the strategic Iranian port.

Japanese Firms Continue Purchasing Iranian Oil as Tokyo Says Crude Imports Untouched

The Japanese firm Cosmo Oil has become the latest Japanese refiner to start loading crude oil cargo from Iran, as Japanese Officials vow crude imports from Iran will be untouched despite US sanctions.
FATF

Iran’s Not Joining FATF Detrimental: Official

A senior Iranian official says if Iran does not join the Financial Action Task Force (FATF) that would mean the country will be deprived of selling oil, even to China.

‘EU Could Show Good Faith by Running Bank to Keep Ties with Iran’

An Iranian lawmaker says the EU decision to launch a special financial mechanism to keep trade ties with Iran despite US sanctions was not made in a good-faith gesture.

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