Wednesday , December 12 2018
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Iran

Iran, Russia-led bloc move toward free trade

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Moscow : Earlier this month, an interim agreement on free trade between Iran and the Eurasian Economic Union (EAEU) was approved at the regional body’s summit in the Russian city of St. Petersburg. After relevant legal procedures in Iran are fully carried out, the deal is expected to take effect as of early 2019. Seen as Iran’s biggest ever deal ... Read More »

Iran’s handmade carpet exports decline by 20 pct in 7 months

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TEHRAN: Iran exported 176 million U.S. dollars worth of hand-woven carpets during the first seven months of the current Iranian year (March 21-Oct. 22), which shows a 20 percent fall compared with the corresponding period of last year, Eghtesadonline news website reported on Tuesday. “Some 32 percent of our handmade carpets used to go to the United States. We have ... Read More »

Sale of smuggled Iranian, chemically produced fuel rampant

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RAHIM YAR KHAN: A part of the national highway between Sadiqabad and Zahirpir has been a hub of smuggled Iranian petrol and diesel for a decade allegedly with the connivance of police, customs intelligence and smugglers. There are several discreet warehouses at Bahadurpur, Muslim Chowk, Iqbalabad, Sardargarh and Zahirpir where smuggled Iranian oil is unloaded from tankers and later supplied ... Read More »

Trade turnover up between Iran, Oman

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Tehran : Trade balance between Iran and Oman increased in favor of Iran during the first seven months of the current Iranian year (started March 21), Iranian Students’ News Agency reported referring to Abbas Badalkhani, Iran’s commercial attache in Oman. Citing Iran Customs Administration (ICA) statistics, Badalkhani noted that the trade turnover between Iran and Oman reached $870 million in ... Read More »

Iran foreign trade surplus hits $ 2 billion during first 8 months

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TEHRAN: Iran Customs Administration (IRICA) has announced that Iran’s foreign trade surplus hit $ 2 billion during the first eight months of Iranian year 1397 (beginning on March 21, 2018 and ending on November 21, 2018.) According to the statistics available on the website of Iran Customs Administration (IRICA), “the country’s non-oil exports exceeded $ 31 billion during the first ... Read More »

Iran Mobile Market: Prices High, Supply Low

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Iran :During the seven months to Oct. 22, 1.7 million mobile phones were imported into Iran. This is while monthly domestic demand for cellphones is said to be over and above 1 million. This has created chaos in Iran’s mobile phone market with prices going through the roof. According to data released by the Islamic Republic of Iran Customs Administration, ... Read More »

Duma Endorses Iran-EEU Free Trade Zone Deal

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Iran : Russia’s State Duma has endorsed an agreement for the establishment of a free trade zone between Iran and the Eurasian Economic Union. In Thursday’s open session, a majority of State Duma members approved the agreement on the establishment of a free trade zone, which was signed in the Kazakhstan’s capital city of Astana on May 17, IRNA reported ... Read More »

U.S. Sanction Waivers Boost China’s Demand For Iranian Oil

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Shanghai : Iran’s largest oil customer China is set to continue importing robust volumes of Iranian crude at least through the end of this year thanks to the U.S. waivers to eight countries that will allow them to keep importing oil from Tehran at reduced volumes until early May next year. To be sure, even before the U.S. granted the ... Read More »

Iran could be the key to cementing India and Japan ties

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US President Donald Trump has elevated India and Japan to the top of his list of strategic partners in the Indo-Pacific region. At the same time, US efforts to isolate and redirect Iran away from its nuclear weapons programs resulted in another round of sanctions being implemented in early November. Iranian sanctions complicate matters for New Delhi and Tokyo in ... Read More »

Iran to build railway through Iraq, connecting to Syrian port: Official

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ERBIL : Iranian technicians and engineers are due to complete the Shalamcheh – Basra railway with a plan to eventually connect it to Syria’s Lattakia port, an official in the Islamic Republic of Iran Railways (RAI) said on Sunday. “Since the Iraqis have stated that they cannot afford construction of the railway to Basra, the railway was decided to receive ... Read More »

China’s CNPC to take oil from Iranian fields it owns as normal

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SHANGHAI : China National Petroleum Corp (CNPC) is continuing to take oil from Iranian oilfields where it has ownership stakes, even after the United States re-imposed sanctions on the country’s oil sector, a company executive said on Friday. The state-owned oil giant entered Iran in 2004 when it acquired the MIS oilfield, in which it now holds a 75 percent ... Read More »

Cellular handset import into Iran amounts to $266 mn

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Tehran : The mobile market faced significant development after the implementation of ‘Iran’s National Mobile Registry Scheme’ in such a way that growing trend of smuggling of mobile phones remarkably decreased in the country , IRICA added. Import of cell phones into the country in the same period accounted for 1.01 percent of country’s total import value. IRICA put the ... Read More »

China’s Iranian crude imports fall 34 percent in Sept -customs data

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BEIJING, Nov 1 (Reuters) – China’s crude oil imports from Iran in September fell sharply from the same month last year, a sign that China has curbed its purchases from the Islamic republic as Washington prepares to re-impose sanctions on Tehran’s oil sector. Shipments from Iran stood at 2.13 million tonnes in September, or 518,300 barrels per day (bpd), down ... Read More »

China’s September Iran crude imports fall 34 percent, U.S. shipments doubled: customs

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BEIJING : China’s crude oil imports from Iran in September fell sharply from the same month last year in a sign that China has curbed its purchases from the Islamic republic as Washington prepares to re-impose sanctions on Tehran’s oil sector. Data from China’s General Administration of Customs showed China brought in 2.13 million tonnes of Iranian crude oil in ... Read More »

Iran Customs Posts Highest Midyear Revenues

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Tehran : The Islamic Republic of Iran Customs Administration has turned in its best-ever midyear profit during the first half of the current Iranian year (March 21-Sept. 22), according to a report published on its website on Sunday. IRICA brought in a total revenue of 108 trillion rials ($776.97 million) in the six-month period out of import tax and duties, ... Read More »

India, Iran, Afghanistan hold first trilateral on Chabahar port project

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NEW DELHI: India, Afghanistan and Iran Tuesday held their first trilateral meeting on Chabahar port project during which they reviewed its implementation. The meeting assumes significance as the strategically-located port on the energy-rich Iran’s southern coast was coming under the ambit of US sanctions on Tehran. “Detailed discussions were held between the three sides on full operationalisation of the trilateral ... Read More »

India & Iran and Afghanistan hold first trilateral on Chabahar port project

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Iran : PTI reported that India, Afghanistan and Iran held their first trilateral meeting on Chabahar port project during which they reviewed its implementation. The meeting assumes significance as the strategically-located port on the energy-rich Iran’s southern coast was coming under the ambit of US sanctions on Tehran. “Detailed discussions were held between the three sides on full operationalisation of ... Read More »

Iran: Imports of Essential Goods Top $4.6 Billion

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Tehran:Over 9.13 million tons of essential goods worth $4.67 billion were imported into Iran during the first half of the current Iranian year (March 21-Sept. 22), accounting for 56% and 21% of the total imports in terms of weight and value respectively. According to the Islamic Republic of Iran Customs Administration, a total of 16.22 million tons of goods worth ... Read More »

India, Iran working on rupee-rial facility for Chabahar port

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Iran : importance of Chabahar port project for both Iran and India, saying that the two countries were working out ways to sidestep the US sanctions. According to Islamic Republic News Agency (IRNA) on Sunday, the ‘Hindu business line’ noted, “India is weighing a rupee-rial payment mechanism for the Chabahar project in Iran as it weaves a way around the ... Read More »

Russia denounces new US sanctions on Iran businesses

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Tehran:Russian Deputy Foreign Minister Sergei Ryabkov has repudiated new US sanctions on Iran’s businesses, saying Washington appears to be taking every opportunity to exert pressure on countries it dislikes. The US Treasury Department on Tuesday slapped sanctions on Bank Mellat and Mehr Eqtesad Bank and other companies linked to investment, commodities and engineering. “Regardless of what reasons, under what pretexts ... Read More »