Economy

US Lies about Collapse of Iran’s Economy under Sanctions: Rouhani

Iranian President Hassan Rouhani says the White House lies about Iranian nation’s “regression” and the collapse of the country’s economy under the current sanctions.

Swedish Ex-Leader Disputes UK Capture of Iranian Oil Tanker

A former prime minister of Sweden has questioned the legality of seizure of an Iranian oil tanker by the UK, stressing that the non-EU states are not subject to the European sanctions.

Iran Exporting 2.5m Worth of Goods to Iraq Every Day

New reports suggest that Iran has considerably increased the amount of its exports to Iraq since last year despite the US sanctions.

Iran Says Not Pinned Any Hope on Europe’s INSTEX

Iran’s deputy foreign minister for political affairs says the government has told all Iranian organisations not to pin hope on the European financial mechanism, known as INSTEX, which was meant to facilitate trade with Tehran under the US sanctions.

Why and How to Get Iran’s Residency

A new by-law passed by the Iranian government provides foreign nationals, particularly those from Afghanistan, with a new chance to get Iran’s residency. But why and how should they do that?

Iran Says Not Satisfied with INSTEX Implementation

Iran’s Foreign Ministry Spokesman says the way that the European financial mechanism, INSTEX, is currently being implemented is not what Iran has been asking for.

Rouhani Urged to Learn from JCPOA, Not Be Deceived by INSTEX

Iranian conservative daily Kayhan has warned the administration of Hassan Rouhani against accepting the INSTEX, a special trade mechanism proposed by Europe, saying that Tehran must not be deceived by the “void” package once more.

Investors Can Obtain Residence Permit in Iran

The Iranian administration has passed a piece of legislation that allows foreign individuals to receive a temporary residence permit in Iran by investment.

‘INSTEX Implemented Too Late, Can’t Secure Iran’s Interests’

An Iranian lawmaker says the INSTEX, the European financial mechanism aimed at keeping economic ties with Iran normal amid the US sanctions, does not meet Iran’s interests as it is being implemented too late.

EU Says Iran Trade Channel, INSTEX, Now Operational

Iran and other parties to the Joint Comprehensive Plan of Action have wrapped up a key meeting of the JCPOA by releasing a joint statement.

Iran’s Oil Exports on Rise Despite US Sanctions: Official

The Governor of the Central Bank of Iran says the Islamic Republic has successfully conquered the peak of resistance and the exports of Iran’s oil is on the rise despite the US bid to bring them down to zero.

‘Non-Oil Exports from Iran’s Chabahar Port Doubled’

An Iranian official says non-oil exports from the strategic Chabahar port in south-eastern Iran has grown by 100% in the first quarter of the current Iranian year compared to the same period last year.

Iranian Automaker May Use Peugeot Logo on Homegrown Car

CEO of Iran’s leading carmaker Iran Khodro (IKCO) has said his company feels free to use the logo of Peugeot on the 301 model, because the sedan has been fully manufactured inside Iran after the French automaker Peugeot violated its contract and left the country in the shadow of US sanctions.

Iran-China Banking Ties Facilitated: Official

The obstacles to banking transactions between Iran’s official companies and China have been removed, president of Iran-China Joint Chamber of Commerce announced.

Turkey Says Ready to Boost Business Ties with Iran

Turkish Foreign Minister Mevlüt Çavuşoğlu says his country is prepared to enhance its all-out relations with Iran in various political, economic, and cultural areas.

UK to Pay $1.6bn in Damages to Iran’s Bank Mellat

The UK government has reached an agreement with Bank Mellat to settle a $1.6-billion damages claim brought by the Iranian bank after 10 years of negotiations.

Iran Proposes New Date for OPEC Meeting

Iran’s oil minister has disagreed with a plan to postpone an upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC), saying Iran would prefer July 10-12 if a new date is to be set for the gathering.

Iranian Minister in Geneva to Attend Int’l Labour Conference

Iranian Minister of Labour Mohammad Shariatmadari has left Tehran for the Swiss city of Geneva to attend the 108th session of the International Labour Conference.

Iran on Verge of Joining Eurasia Free Trade Zone

Iran’s Energy Minister Reza Ardakanian says the country will soon announce the implementation of its agreement with the five members of the Eurasian Economic Union on free trade, which will make Iran a member of the Eurasia Free Trade Zone.

INSTEX Not Translated into Reality Yet: Iran

Iranian Parliament Speaker Ali Larijani says the financial mechanism proposed by the EU to normalize economic ties with Iran after the US withdrawal from the 2015 nuclear has not yet been translated into reality, and is only on paper.

Celebration of Queen Elizabeth II’s Birthday at Iranians’ Expense

An email has been sent to many Iranian economic players and brands asking them to pay for an annual celebration marking the 93rd birthday of the British Queen Elizabeth II in Tehran through a certain channel.

US Seeks to Kill INSTEX by Imposing New Sanctions

The Trump administration is now weighing sanctions on Iran’s counterpart to the European special-purpose vehicle for humanitarian trade, Bloomberg says.

Iran’s Parliament Approves Establishing Free Trade Zone with Eurasia

Iranian lawmakers have approved a bill to temporarily run a free trade zone between Iran and Eurasian Economic Union.

Turkey to Deepen Business Ties with Iran to Counter US Bans: Erdogan

Turkish President Recep Tayyip Erdogan has called for further expansion of mutual ties between Iran and Turkey in various areas including economy in the wake of the US sanctions against Tehran.

Iran Condemns US Trade War on China

Iran’s Foreign Ministry spokesman has censured the United States’ trade war on China, saying that it is necessary for Washington to seriously rectify its approach towards global trends and the growth in power of other world players.

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