Finance

Russia’s VTB Bank, the country’s second largest, opens a branch in Iran, as the two countries step up their financial cooperation in the face of Western sanctions.

The head of the Iran-Iraq chamber of commerce says the Iraqi Central Bank is not authorized to transfer US dollars to the Islamic Republic.

Iran’s Secretary of the Supreme National Security Council (SNSC) Ali Shamkhani, in a meeting with Indian National Security Advisor Ajit Doval, has called for further use of the rial and rupee in bilateral trade transactions.

Iran’s Parliament Speaker Mohammad Baqer Qalibaf has called on the Iraqi government and parliament to take initiatives aimed at countering US sanctions that have made it difficult for Baghdad to repay its debts to Tehran.

A center at Iran’s Ministry of Economic Affairs and Finance says there are no plans for the country to join the Financial Action Task Force, or FATF, the global organization that fights money laundering.

The deputy governor of Iran’s Central Bank says Iran and Russia plan to strengthen trade ties in rial and rubble during the Iranian vice president’s visit to Moscow in order to move from services to goods in bilateral economic ties and eliminate dollar in their transactions.

Iranian media are reporting intensive negotiations with the US through a regional mediary to pave the way for the release of billions of dollars of Iranian assets blocked in other countries in exchange for the release of American prisoners in Iran.

An Iranian deputy foreign minister says Iran will shortly issue cards that would operate under the Russian Mir (Мир) payment system, enabling Russians and Iranians in the country to make electronic transfers via the system.

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 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).

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 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.

The Iranian oil minister has announced that Iraq has paid $1.6 billion of its gas debt to the Islamic Republic.

South Korean Foreign Minister Park Jin says that Seoul will discuss the issue of Iran’s funds frozen in Korean Banks with the United States.

The head of the Iran-Iraq Joint Chamber of Commerce says Baghdad will, in the coming days, resume the process of settling the debts owed to Tehran for its energy purchases, as part of an agreement newly reached between the two neighbors.

The Central Bank of Iran (CBI) has announced fresh details on the unfreezing of the country’s assets, blocked due to the US sanctions.

Iran’s Foreign Minister Hossein Amir Abdollahian says a primary agreement has been reached to release Iran’s assets that have been frozen in a foreign bank due to the US sanctions.

Iranian Foreign Ministry Spokesman Saeed Khatibzadeh has confirmed reports that $7 billion in Iranian assets, frozen in foreign banks due to the US sanctions, are going to be released.

A regional official, identified in a Tasnim News Agency report as “possibly Oman’s foreign minister”, will travel to Tehran on Tuesday to finalize the mechanism for the release of seven billion dollars in frozen Iranian assets.

Reports say seven billion dollars of Iran's money, frozen due to the US sanctions, will be transferred to the country’s accounts under a new agreement.

Reports say Iran has managed to get a substantial amount of his frozen assets unlocked in a foreign country due to the US sanctoins.

A member of the Iranian Parliament’s National Security Commission says consultations were held with several countries, where Iranian assets were frozen due to US sanctions, however, this had no result.

Iran’s Oil Minister Javad Oji says the country needs a $200bn investment in the upstream and downstream and petrochemical industries, the bulk of which has been raised under 50 contracts.

Iran’s Ambassador to Russia Kazem Jalali says Tehran and Moscow are discussing the possibility of recognizing cards using Russian MIR payment system.

Iran’s first vice president has called for Iranian and Iraqi central banks to further their cooperation to facilitate financial transactions between the two countries.