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Iran, Oman to launch new shipping line by late April

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Iran and Oman are set to launch a new direct shipping route between their ports in the Persian Gulf in a move to help boost economic ties between the two countries, said Iran’s ambassador to Muscat. Addressing a gathering of 120 Iranian and Omani businesspersons in Muscat on Wednesday, Mohammadreza Nouri Shahroudi said the new line will go on stream ... Read More »

Iranian held for smuggling 43 kilos of drugs

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The Coast Guard personnel have arrested an unidentified Iranian for allegedly attempting to smuggle into the country 43 kilos of drugs, reports Al-Rai daily. The daily added, the arrest came after Coast Guard officers, monitoring the maritime border, received a signal through the radar monitoring about strange object at sea. Soon the patrol boats moved to the site and took ... Read More »

Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power

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Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines over the Iranian border has ... Read More »

Russia-Iran Trade Up 14.2% To $361Mln In January-February Year-on-Year – Customs Service

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MOSCOW : Trade between Russia and Iran saw a 14.2 percent year-on-year increase to $360.7 million in January and February 2019, the Russian Federal Customs Service’s data showed on Monday. The data showed that exports from Russia to Iran in the given period totaled $262. 7 million, having increased by 20.6 percent, while imports to Russia from Iran stood at ... Read More »

Iran’s Non-Oil Trade With CIS Up 27%

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iran traded 4.83 million tons of non-oil commodities worth $2.47 billion with the nine member of the Commonwealth of Independent States, namely Russia, Azerbaijan, Kazakhstan, Armenia, Uzbekistan, Tajikistan, Kyrgyzstan, Belarus and Moldova, during the 11 months to Feb. 19, 2019. This registered a 49.93% and 27.28% increase in tonnage and value respectively compared with last year’s corresponding period. Latest data ... Read More »

Iran to lease part of Latakia port : Reports

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Tehran began talks with Damascus last month to lease the container port beginning on October 1st. The state-owned port is currently managed by a joint venture between Souria Holding, a Syrian investment company and CMA CGM, a French shipping firm. Billionaire Filmmaker David Geffen Buys Neighbor’s House for $4.65M (Mansion Global) While its revenues have taken a major hit since ... Read More »

Volume of exports of Iran’s Kordestan Province to reach $2.5M

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For the economic development of Iran’s northwestern Kordestan Province, product exports through the province’s customs points should reach $2.5 billion this Iranian year (started March 21, 2019), said Hossein Firouzi, Deputy Governor of Kordestan Province, Trend reports referring to IRNA. According to Firouzi, goods worth $1 billion were exported to Iraq via Kordestan Province’s customs points and border markets last ... Read More »

Iran simplifies import of products from Kazakhstan

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Cooperation between Kazakhstan and Iran is characterized by such vital areas as joint decision of the legal status of the Caspian Sea, regional cooperation, issues of ensuring a short and profitable route for Kazakhstan goods to the World Ocean, as well as trade and economic ties. Based on the bill ratifying the interim agreement on the creation of a free ... Read More »

U.S. conducted secret surveillance of Huawei, prosecutors say

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NEW YORK (Reuters) – U.S. authorities gathered information about Huawei Technologies Co Ltd through secret surveillance they plan to use in their case charging the Chinese telecom company with violating sanctions against Iran, prosecutors said Thursday. Assistant U.S. Attorney Alex Solomon said at a hearing in federal court in Brooklyn the evidence, obtained under the U.S. Foreign Intelligence Surveillance Act ... Read More »

Iran sees exports growth to Pakistan by 38 pct

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The nature of Iranian-Pakistani relations is strategic and there are many prerequisites for more extensive cooperation between the two states. The Iranian Embassy reported that Iran’s exports to Pakistan increased by about 38 percent in the 11 months of the past 1,397 Iranian year, which ended March 20, 2019. According to the Iranian embassy in Islamabad, trade between Iran and ... Read More »

Chabahar customs to release 1,000 auto spare parts containers

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The director general of Chabahar customs Azizollah Shams has announced the three month deadline for releasing 3,000 imported spare parts containers is over, while 1,000 containers from this figure would be released in 20 days. “Iran Khodro Khorasan and other auto branches have implemented the necessary efforts to claim 1,800 containers that are ready to be release,” he said, Trend ... Read More »

9 Iranians remanded in Sri Lanka over smuggling bid

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A Sri Lankan magistrate’s court on Friday further remanded nine Iranian nationals who were arrested earlier this week for attempting to smuggle in 100 kg of heroin through the sea. The Police Narcotics Bureau (PNB) told the court that investigations into the drug bust were continuing and they had received details that the suspects had loaded the drugs into the ... Read More »

European Court Rules Against 9/11 Victims Seeking $1.6 Billion From Iran

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WASHINGTON — A court in Luxembourg has ruled against a group of Sept. 11 victims in a novel lawsuit seeking $1.6 billion in Iranian assets, bringing to a head a long growing disagreement about a significant question of international law: Should governments be immune from lawsuits even when they are accused of responsibility for terrorist attacks? For decades after World ... Read More »

Oil Sanctioned by U.S. and Shunned by World Finds Haven in China

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China is doubling down on purchases of cheap oil that other buyers are shunning due to U.S. sanctions. The world’s biggest crude importer boosted imports from Venezuela and Iran last month from January, with the shipments costing the least since November 2017, data released on Monday by the General Administration of Customs show. Both of the OPEC producers are subject ... Read More »

Cement exports up by 4% in 11 months

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TEHRAN: Statistics of Iran’s foreign trade in mining and mineral industries’ sector showed that 12,652,000 tons of cement was exported from the country in 11 months of the last Iranian calendar year (March 21 – Feb. 21), registering a significant 4 percent growth as compared to the last year’s corresponding period. According to the Islamic Republic of Iran Customs Administration ... Read More »

Road map for Iran-EU trade and investment relations

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The reimposition of secondary US sanctions and the consequent hesitation of international banks, European export credit agencies and enterprises to engage Iran have severely undermined the potential for Iran-EU trade. The establishment of the Instrument to Support Trade Exchanges (INSTEX) can be seen as a positive step forward, but it is yet to become operational. In the meantime, opportunities are ... Read More »

Half of Iran’s ‘Non-Oil’ Exports Petroleum-Based

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Tehran : some 50% of Iran’s “non-oil” exports actually consist of petroleum-based products and petrochemicals that either directly or indirectly come from the oil industry. Latest statistics provided by the Islamic Republic of Iran Customs Administration shows overall “non-oil” exports hit 105.9 million tons worth $40.07 billion during the 11 months to Feb. 19 to register a 6.36% decrease in ... Read More »

China, Iraq, UAE, Afghanistan, Turkey are main importers of Iranian products.

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The Islamic Republic of Iran is an economically developed country in South-West Asia and is the largest economy in the region, coming after China, Japan, India, Turkey, Indonesia and South Korea in Asia in terms of GDP. According to the Iranian Customs Administration, Iran’s trade balance for April 2018-March 2019 is $ 1.5 billion. The export of non-oil products from ... Read More »

Microsoft says Iran-linked hackers targeted thousands of people at over 200 businesses

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REDMOND, WASHINGTON : Microsoft has detected cyberattacks linked to Iranian hackers that targeted thousands of people at more than 200 companies over the past two years. That’s according to a Wall Street Journal report Wednesday that the hacking campaign stole corporate secrets and wiped data from computers. Microsoft told the Journal the cyberattacks affected oil-and-gas companies and makers of heavy ... Read More »

Iran, Syria to reduce customs duties to zero

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The Syrian charge de affairs to Iran Ali Seyyed Ahmad made the remarks in a joint meeting between the Iranian and Syrian economic agents in Iran Chamber of Cooperative in Tehran on Monday. Seyyed Ahmad stressed that the Syrian government is committed to expansion of trade relations with Iran, inviting Iranian economic agents to invest in Syria. He said that ... Read More »