Monday, December 5, 2022

Economy

‘Demands high from China, India for northern Iranian ports’

Demands are increasing from Chinese and Indian merchants to transport goods via northern Iranian ports which indicate the North-South transit corridor is up and coming, an Iranian official says.

Iran, Russia to officially ditch dollar in bilateral trade

Iran and Russia will definitely remove the dollar from their bilateral transactions, the Iranian minister of economy has confirmed, adding that talks are underway with other countries to continue the de-dollarization process.

Erdogan: Turkey to increase oil, natural gas imports from Iran

Turkish President Recep Tayyip Erdogan says his country will increase oil and natural gas imports from Iran.

Iranian Intelligence Ministry dismantles forgery ring

Iran’s Intelligence Ministry says its agents have dismantled a forgery and corruption ring after identifying all its members.

Chinese ambassador: Iran can play key role in China’s ‘Belt & Road’

The Chinese ambassador to Iran says the Islamic Republic can play a major role in Beijing’s Belt & Road initiative, a hundreds of billions of dollar project aimed at reviving the ancient Silk Road trade route.

Iran 10th bigest steel producrer in the world, despite decrease in production

World Steel Association declared in its latest report that steel production in Iran in June 2022 decreased by 10.5% compared to the same period in 2021.

Iran to export 400 megawatts of electricity to Iraq in 5 years

The Iraqi ministry of energy says, Iran will export some 400 megawatts of electricity to Iraq in five years.

Iran and Russia to gradually ditch dollar in foreign trades

Iran and Russia have prepared the ground to do away with the dollar in their bilateral trade and cushion their economies against ‘unjust’ US-speared Western embargoes, the governor of Iran’s Central Bank says.

Iran’s central bank governor upbeat about rial-ruble trading

Iran’s move to launch trading in the Iranian rial-Russian ruble in its foreign exchange market can further bolster its economic relations with Russia and diminish other foreign currencies’ role in the Iranian market, according to the governor of the Central Bank of Iran (CBI).

“Iran-Russia trade grew by over 81 percent in 2021”

The chairman of the Iran-Russia chamber of commerce says trade between the twi countries grew by 81.7 percent and reached $4.03 billion in 2021.

Kremlin: Russia and Iran to ditch dollar in trades

Kremlin Spokesperson Dmitry Peskov announced on Monday that Moscow and Tehran would gradually abandon the use of the dollar in bilateral relations.

Iranian deputy FM: Iran has launched refineries in foreign countries

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari says Iran has launched refineries in three countries for the purpose of making its oil operational.

Iran’s non-oil trade with SCO surges by 29%

Iran’s non-oil trade volume with permanent and observer member states of the Shanghai Cooperation Organization (SCO) has increased by 29 percent in the second quarter of 2022 compared to the same period last year, the spokesperson for Iran’s Customs Administration says.

Iran to increase petrochemical production capacity by 54%

Iran is implementing propelling plans to step up its petrochemical production capacity during the administration of President Ebrahim Raisi’s tenure by 54 percent, according to IRNA.

Iran sets $200bn target for trade with neighbors

Iranian parliament speaker says the Islamic Republic has the capacity to increase its trade exchange with its neighboring countries to 216 billion dollars a year and sounded upbeat to hit the target despite sanctions.

Mission: Iran to become full member of Shanghai Cooperation Organization

Iran will obtain full membership of the Shanghai Cooperation Organization in September and will officially become the ninth member state of the alliance in 2023, according to the Islamic Republic’s Embassy in China.

Iranian FM says Italy’s private sector interested in cooperation with Iran peers

Iranian Foreign Minister Hossein Amirabdollahian has said the Italian private sector is interested in collaborating with the Iranian side.

Russia’s first transit train enters Iran to cross into India

The first Russian train carrying containers of goods has been allowed to enter Iran en route to India.

Italy’s FM: Italian companies willing to do business in Iran

The Italian foreign minister says Italian companies are willing to continue their business in Iran, voicing Rome’s readiness to further expand ties with Iran in various fields.

Iran, Russia resolved to eliminate US dollar from bilateral transactions

The governor of the Central Bank of Iran (CBI) says the Islamic Republic and Russia have explored ways, in recent talks, to eliminate the US dollar from their financial transactions in order to facilitate economic cooperation under sanctions.

Iran, Russia agree to bolster financial, banking cooperation

Iran and Russia have reached an agreement on working to expand their financial and banking cooperation and remove the obstacles in the way of their ties under tough American sanctions.

Iran eyes improved marine transportation capacity in road to becoming regional transit hub

Deputy Iranian Minister of Roads and Urban Development says an increase in the number of marine transportation fleet in the northern and southern waters is expected to lead to considerable rise in trade with neighboring countries.

Analyst: Revival of nuclear deal cuts Iran inflation by 50%+

An Iranian money and banking expert says an agreement on revival of the 2015 nuclear deal is likely to cut the national inflation by 50 percent.

Minister: Azadegan oil field’s development to generate $115bn in revenue for Iran

The Iranian oil minister says the development of the southwestern Azadegan oil field will generate an income of some $115 billion for the country as well as 24,000 jobs for people.

Iranian daily belittles Raisi administration for boasting of ‘small-time trade with region’

An Iranian daily has criticized the President Ebrahim Raisi administration for boasting of a policy of economic engagement with regional countries, which “accounts for merely six percent of the world economy.”

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