Latest Business News in Iran – News and reports about all things to do with commerce, trade, banking and industry in Iran and the world. Covering ongoing developments, market news, contracts, joint ventures, trade delegations, chambers of commerce, manufacturing, labour news and resource management.
A top member of Iran’s parliament has warned that Tehran has many options to force South Korea to pay back over $7 billion of Iranian funds that have remained blocked in the Asian country under the pretext of compliance with US sanctions.
The total electricity produced at Iran’s only nuclear power plant after some 12 years of activity has reached 60 billion kilowatt hours (kw/h), according to Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami.
The shutdown of Iran’s e-commerce giant, Digikala, came to an end on Thursday afternoon after the relevant authorities lifted the ban they had imposed on the online retailer.
Referring to Iran's joint oil and gas fields with the neighboring countries in the Persian Gulf, the Iranian Minister of Petroleum stressed: "We will not budge an inch on Iran's exploitation rights in the Arash gas field."
Iranian Vice President for Legal Affairs Mohammad Dehqan says the Islamic Republic is also pursuing the recovery of payments owed by Bahrain besides those of South Korea.
Iranian Minister of Petroleum Javad Owji stressed that the Islamic Republic of Iran always supports the amicable settlement of border and maritime disputes, including those over the Persian Gulf Arash gas field with its neighbors.
A member of the Presiding Board of the Iran-Russia Joint Chamber of Commerce says Iran missed an opportunity to attract the investments of Russian businesspeople after the war in Ukraine.
Iran and India are expected to ink a long-term agreement for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled to be held in New Delhi in October, two people familiar with the matter have stated.
Iranian President Ebrahim Raisi has forwarded to the Parliament a motion to appoint arbiters in a dispute with South Korea over frozen Iranian assets in the East Asian country.
A cargo of Iranian oil remains stranded off the United States coast because no one buys it despite the fact that Washington has authorized its unloading to ensure that buyers would not face penalties because “it is from a sanctioned country”, according to a report.
The deputy commander of Iran’s Islamic Revolution Guards Cords (IRGC) says the country will act in kind if the United States empties the cargo of an Iranian tanker that it has illegally seized to use or sell.
Iranian foreign policy expert Seyyed Ali Hosseini says Iraqi officials are deliberately dragging their feet on the payment of their energy debt to Iran through hampering a mechanism that’s been created for this purpose.
Iraqi Prime Minister Mohammed Shia al-Sudani says that Baghdad and Tehran have signed an agreement following several days of talks for "the import of Iranian gas to fuel Iraqi power plants, in exchange for Iraqi crude oil" in order to avoid falling foul of US sanctions.
Iraq's Minister of Electricity Ziad Ali Fadhil says Baghdad has fully paid its debt to Iran for energy purchases, but a number of banking issues caused by US sanctions are preventing the transfer of the sum of money to the Islamic Republic.
The Iranian Foreign Ministry spokesman has called for the demarcation and exploitation of the Arash gas field, falling in the neutral zone between Iran, Kuwait and Saudi Arabia in the Persian Gulf.
A spokesman for the Iraqi Electricity Ministry says that Iran has stopped gas exports to the country without prior notice while temperatures in Iraq have reached 51° Celsius.
An Iranian lawmaker says the country will not back down on pursuing its right in the Arash natural gas field, which is shared with Kuwait and Saudi Arabia, amid a dispute between Tehran and its two Persian Gulf neighbors over the case.
Iranian Oil Minister Javad Owji and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al Saud have explored the possibility of joint investments in oil and gas industry.
Iran’s Oil Minister Javad Owji says that the country has inked $40 billion worth of oil contracts with domestic and foreign companies over the past 20 months.
Iranian President Ebrahim Raisi has highlighted the long-term and positive impacts of Iran’s full membership in the Shanghai Cooperation Organization. He stated that Tehran’s membership in the SCO will have historical benefits. He made the remarks in an address to the 23rd SCO summit which was held via video conference.
