Monday, December 5, 2022

Business

Daily: Internet restrictions in Iran inflict huge losses on businesses, economy

The Iranian government’s restricting Internet access in the country has drawn extensive criticism as the measure has inflicted huge losses on numerous businesses.

Iranian VP: Free trade zones with Russia can render sanctions ineffective

Iran’s First Vice President Mohammad Mokhber says US-led sanctions cannot stand in the way of trade between Iran and Russia، highlighting the role of free trade zones in bypassing the embargoes and expanding bilateral ties.

Official: Iran VP’s visit to Russia aimed at elimination of dollar from transactions

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.

Iran oil minister says the country to become regional energy hub

Iranian Oil Minister Javad Oji says the transit and swap of oil and gas from Russia will make Iran the region’s energy hub, and this will flow huge amounts of foreign currency into the Islamic Republic.

Iran says new US sanctions having no impact on petrochemical industry

The secretary general of Iran’s petrochemical industry guild union says new sanctions on the country will have no impact on its activities, although the bans could be part of a propaganda campaign and psychological warfare.

Iran VP: Sanctions won’t stop Iran-Russia cooperation

Iranian First Vice President Mohammad Mokhber has said the Islamic Republic and Russia enjoy good ties that have been expanding.

US accuses Opec+ of aligning with Russia

The White House has accused Opec+ of aligning with Russia after Saudi Arabi led the organization to deep oil production cuts, prompting a backlash from countries battling surging energy inflation triggered by Moscow’s invasion of Ukraine.

Iran’s VP stresses implementation of agreements with Russia

Iranian First Vice President Mohammad Mokhber, who is on a visit to Russia, says cooperation agreements between Iran and Russia have to be seriously implemented based on a detailed and scheduled plan.

Report: Iranian assets in South Korea to be released in exchange for release of American prisoners in Iran

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.

Turkmenistan exempts Iran from heavy tariffs on transit of goods

An Iranian official says Turkmenistan has cancelled heavy tariffs for Iranian transit of goods using the country’s borders and territory as of October 1.

Iran’s exports of industrial products up 70%

Iran’s exports of industrial products have increased by 70% during the tenure of Ebrahim Raisi, who took over as Iranian President in August 2022.

Oil minister: Iran can help Japan fulfill energy needs

Iranian Oil Minister Javad Owji says Iran and Japan should work to expand their economic cooperation regardless of the sanctions in place against the Islamic Republic, adding Tehran can play a major role in fulfilling the East Asian state’s energy needs.

Report: Iranian crude, condensate reach Venezuela’s port

Two Iranian tankers have arrived in Venezuela with about 1.22 million barrels of Iranian crude and 2 million barrels of condensate, media reports citing documents from state oil company PDVSA say.

Iran invites Japanese investments in oil industry

Iran’s oil minister says the country is not waiting for the revival of the nuclear deal and is trying to attract foreign investments including those from Japan.

Iran says ready to help Lebanon meet energy needs

Iranian Foreign Minister Hossein Amirabdollahian expresses the country’s readiness to help Lebanon meet its energy needs, as the Arab country grapples with a severe energy crunch.

Iran-China eight-month trade hit $11.16bn

The trade between Iran and China has grown by 19 percent to hit 11.16 billion dollars since the turn of the year compared to the same period the previous year, new official figures from China show.

Iran customs: Exports to Africa increased 40% in 5 months

Iran has experienced a 40-percent increase in its exports to African countries during the first five months of the Iranian year, from March to August, the spokesman for the Iranian customs announced.

Raisi: Iran and Uzbekistan want to expand trade ties

Iran’s President Ebrahim Raisi says his administration’s top priority is to interact with neighbors and regional countries.

Former Iran official: Further delay in JCPOA signing means Iran will lose oil markets

The Iranian oil ministry’s former director of international affairs says further delay in the revival of the 2015 nuclear deal, JCPOA, means Iran will lose oil markets.

Official: Sabotage behind fire at Iranian oil field, production to resume soon

An Iranian oil official says the fire that briefly engulfed the Shadegan oil field in the southern province of Khuzestan was caused by an act of sabotage, and that the site will resume production operations soon.

Police: Road accidents in Tehran leave 600 deaths annually

At least 600 people die and 20 thousand people are injured every year in traffic-related accidents in the Iranian capital Tehran, according to a traffic police official.

Official: Iran-ECO trade up 40 percent

The spokesman of the Islamic Republic of Iran Customs Administration reports a 40-percent rise in the country’s exports of non-oil commodities to members of the Economic Cooperation Organization (ECO) in the first five months of this year, compared to the same period in 2021.

Iran’s new power plant to generate 6,000 MW of electricity by next year

The deputy head of Iran’s thermal electricity company says 6,000 MW will be added to the country's power plant capacity by the summer peak of the next Persian year of 1402.

Iran’s trade with SCO surges by 31%

The spokesman for Iran’s Customs Organization says the country's trade with members of the Shanghai Cooperation Organization in the first five months of the current Iranian year of 1401 was valued at 17 billion dollars.

Poll: 87% of investors have no ‘clear picture’ of Iranian economy’s future

An opinion poll finds that a majority of investors in Iran do not have a “clear” picture of the country’s future, given the economic woes facing the Islamic Republic, saying they are now “walking the razor’s edge.”

Latest news