Saturday, February 24, 2024

Business

Iran’s oil exports to China hit all-time record in August: Report

Iran’s exports of oil to China hit a historic record in August despite Washington pressure on Tehran, according to a report published in the local media citing data from a major international energy data company.

Russia’s largest lender launches new service in Iran

Russia’s largest lender Sber is offering a new service that allows its clients to transfer money to Iran, the bank announced on Thursday.

Saudi Arabia, Russia extend oil supply cuts

Oil prices hit a new high for the year so far after Saudi Arabia and Russia — the world’s biggest crude exporters — announced they would extend output cuts by at least another three months.

Releasing Iran’s assets in South Korea opens new chapter in bilateral ties: FM

Iran's Foreign Minister Hossein Amirabdollahian has stated that a recent agreement reached to unblock the country’s frozen funds in South Korea will open a new chapter in the two country’s relations.

Iran exported over 3mn metric tons of food products in 5 months: Report

Iran has exported more than three million metric tons of food products in the first five months of the current Iranian calendar year (March 21-August 22), which shows a 19% increase in value compared to the same period last year, according to a report.

Russian-made combat-training Yak-30 jets apparently in Iran

Images have been posted on the cyberspace suggesting the Russian-made Yak-30 combat-training aircraft has been imported into the country and joined the Air Force.

Iran, Iraq launch construction of joint Shalamcheh-Basra railway project

Iran’s First Vice President Mohammad Mokhber and Iraqi Prime Minister Mohammed Shia’ al-Sudani have laid the foundation stone for the cross-border railway line connecting the two neighboring countries.

Iran’s oil output, exports jump despite US sanctions

Iran's oil output and exports rose in August despite US sanctions, consultants and companies that track tanker shipments have confirmed.

Iran, Russia ink deal on standardization of traded goods

Iran and Russia have signed a five-year cooperation agreement on the standardization of products traded between the two countries, in particular non-industrial goods and halal products, the Iranian Embassy in Russia has announced.

Iran ex-diplomat: Economic development, military might should be in tandem

A former Iranian diplomat has warned government officials of the consequences of ignoring economic development at home while pushing for the defense and military agenda.

Iran FM urges final agreement with India over Chabahar Port

Iranian Foreign Minister Hossein Amirabdollahian has called for a final agreement with India for implementing the Chabahar Port project, in southeast of Iran.

Massive embezzlement scheme uncovered in Tehran state bank, preventing huge losses

In a shocking revelation, the Prosecutor of Tehran has announced the investigation into a major embezzlement case involving a staggering amount of 29 thousand billion rials in one of Tehran's state banks.

Iran says has no more blocked assets in any country

Iranian Foreign Minister Hossein Amirabdollahian has stated that Tehran has no more funds frozen in any country due to the US sanctions and that Tehran can now utilize its own assets.

Iran president inaugurates gas production at Phase 11 of South Pars field, Persian Gulf

Iran officially resumed gas production at Phase 11 of South Pars, the world's largest gas field in the Persian Gulf, after a 20-year delay in a ceremony on Monday attended by President Ebrahim Raisi.

Disputed gas field with Kuwait can be settled through peaceful means: Iranian diplomat

Iran believes a dispute with neighboring Kuwait surrounding a gas field in the Persian Gulf is not a big problem as Ali Asghar Khaji, a senior aide to the Iranian foreign minister says, adding the issue can be resolved given the good relations between the two countries.

Minister: 33 oil projects made operating in Iran with a $12bn investment

Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment. 

“Iran Oil ministry increases output, completes projects”

Iran’s Oil Minister Javad Owji has said increasing investment, completing semi-finished oil projects, and boosting oil, gas volume, refining and rising petrochemical outputs have been the most important measures taken by his ministry since two years ago when the administration of President Ebrahim Raisi assumed office.

Iran’s oil exports hit 2.2 million bpd despite US sanctions: Report

Iranian oil exports are surging in August, swelling global flows at a time when other producers are cutting back, Bloomberg has reported citing a firm that monitors satellite imagery of individual tankers. The data shows the country's oil exports have reached levels that were not even seen before Iran came under US sanctions in 2018.

Frozen Iranian funds transferred to Swiss central bank: Report

Iranian assets that had been blocked in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, South Korean media reported on Monday.

Chinese ambassador: China and Iran at peak of their cooperation

China's ambassador to Iran says the two countries are at the peak of their cooperation, voicing hope that with the efforts of the Iranian and Chinese presidents, bilateral relations will improve more than ever.

Tanker believed to hold Iran oil begins to be offloaded despite Tehran threats

An American-owned oil tanker long suspected of carrying Iranian crude oil began offloading its cargo near Texas late Saturday, tracking data shows. Tehran has previously warned against any move to discharge the cargo.

Dozens of oil, gas projects to come on stream within months: Iran’s VP

Iran’s First Vice President Mohammad Mokhber has stated that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).

Iran says received guarantees for release of its frozen assets

Tehran has received the “necessary guarantees” that its assets blocked abroad due to the US sanctions will be unblocked under an agreement mediated by regional friends, Iranian Foreign Ministry Spokesperson Nasser Kanaani told reporters on Monday.

Iranian officials seek to allay concerns over “gasoline shortage, price hike”

While Iranian officials have rejected reports that the government is planning to increase gasoline prices at the pump, unofficial sources have not ruled out the price hike.

Chief banker says Iranian bank accounts in Qatar to process released funds

Governor of the Central Bank of Iran Mohammad Reza Farzin has stated that Iranian funds recently unblocked in South Korea as part of a prisoner swap agreement with the United States will be deposited to accounts held by Iranian banks in Qatar despite reports suggesting that Qatar’s central bank will have control over the funds.

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