Tuesday , October 15 2019
Breaking News


Iran, Azerbaijan stress bolstering joint investments


Iranian Finance and Economic Affairs Minister Farhad Dejpasand and Azeri Minister of Labor and Social Protection of the Population Sahil Babayev met on Tuesday to discuss ways of boosting trade ties, Shada reported. In the meeting which took place at the place of Iranian ministry, the two sides stressed bolstering joint investment and mutual economic collaboration as ways of boosting ... Read More »

Iran, Turkey stress expansion of trade ties


In a meeting with Turkish Deputy Minister of Customs and Trade Riza Tuna Turagay in Tehran on Wednesday, Dejpasand underlined the great history of close ties between the two countries and their officials’ great determination to expand bilateral relations, calling for the promotion of cooperation between the two neighbors. Pointing to the target of $30 billion annual trade set by ... Read More »

Iran Export of Products From Chabahar Port Hit 100 Percent Growth


The Director General of Sistan and Baluchestan Ports and Maritime Organization Behrouz Aghaei said that export of products from Chabahar’s Shahid Beheshti Port in the first six months of the current year (March 21 – Sept. 22) increased 100 percent as compared to the last year’s corresponding period. He made the remarks in a press briefing on Sunday and added, ... Read More »

U.S. Sanctions Chinese Shipping Companies for Iranian Oil Dealings

An Iranian national flag flies at the Persian Gulf Star Co. (PGSPC) gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. 2019. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters. Photographer: Ali Mohammadi/Bloomberg via Getty Images

The U.S. is imposing penalties on a handful of Chinese shipping firms for continuing to carry Iranian oil after sanctions waivers lapsed in May. China Concord Petroleum Co., Kunlun Shipping Co., Pegasus 88 Ltd., and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. have been charged with knowingly violating restrictions on handling and transacting Iranian petroleum. Additional restrictions were ... Read More »

IRICA opens office at Tehran Permanent International Fairgrounds


TEHRAN : Islamic Republic of Iran Customs Administration (IRICA) has opened a representative office at Tehran Permanent International Fairgrounds in order to facilitate custom operations for exhibitors and participants of international exhibitions in the country. As reported by IRNA, the office, which was officially opened on Sunday, is aimed to facilitate customs services and commodity clearance for the exhibitors. According ... Read More »

Ankara, Tehran determined to ramp up trade, mutual investments


Turkey and Iran are committed to boosting their efforts for further development of trade and mutual investments, according to officials. Trade Minister Ruhsar Pekcan said yesterday relations with Iran have taken a constructive path that will smooth the way for the business world, adding that they are determined to re-accelerate trade volume by using the Preferential Trade Agreement more effectively. ... Read More »

‘Oman, a good place for re-export of Iranian products’


Mohsen Zarrabi said that as the Arab country is a member of World Trade Organization (WTO) and has free trade agreements with many countries with them Iran has no direct ties, it could be a proper hub for the re-export of Iranian commodities to different markets of world. According to the data released by the Islamic Republic of Iran Customs ... Read More »

Economic Security Police Launch Anti-Smuggling Drive


The Economic Security Police Department of the Islamic Republic of Iran Law Enforcement Force started anti-smuggling operations at nine sea border crossings, one air border and three land border crossings of the country on Monday. The sea border crossings include Genaveh, Bushehr, Shahid Rajaee Port, Qeshm, Deylam and Khorramshahr. The land border crossings include Bazargan, Bashmaq and Parviz Khan. Imam ... Read More »

Iran’s Oil Exports Decline To Below 200,000 Barrels p/d In August


Figures received by Radio Farda from Kpler, a data intelligence firm show Iran’s oil exports in August declined to 160,000 barrels per day, versus 365,000 in July. Last year in August Iran exported around two million bpd; before the United States imposed oil sanctions in November. Kpler’s figures indicate Iran exported 22 thousand bpd to Turkey, 33 thousand to Syria ... Read More »

Iran’s foreign trade volume exchanges hit $35bn in five months


TEHRAN: The latest statistics of the Islamic Republic of Iran Customs Administration (IRICA) showed that Iran’s foreign trade volume in the first five months of the current Iranian calendar year (March 21 – August 21) has reached $35.539 billion. The volume of exports of non-oil goods (excluding crude oil, fuel oil and kerosene and also without considering exports out of ... Read More »

Trump Claims G-7 ‘Unity’ on Iran After Unannounced Invite


BIARRITZ, France (AP) — U.S. President Donald Trump said he gave his approval for Iran’s top diplomat to make an unannounced appearance on the margins of the G-7 summit, denying Monday that he was surprised or angered and claiming “unity” with the other leaders. French President Emmanuel Macron’s invitation to Iranian Foreign Minister Mohammad Javad Zarif was a bold gamble ... Read More »

Iranian tanker no longer has Turkey destination: Shipping data


An Iranian tanker at the center of a confrontation between Washington and Tehran is no longer recorded as heading for Turkey, Refinitiv Eikon shipping data showed on Aug. 26, having switched to a Turkish destination at the weekend. The vessel, fully laden with oil, had previously been heading to the port of Kalamata in southern Greece but Greece had said ... Read More »

Tehran ready to discuss Macron’s new plan to keep Iran in nuclear deal


The French president floated a new proposal to Iran on how to soften the blow of the US withdrawal from the nuclear deal. The Iranian foreign minister said Tehran is ready to discuss it. The 2015 international agreement lifted economic sanctions from Tehran in exchange for accepting restrictions on its nuclear industry. Last year, Washington pulled out of the deal ... Read More »

Iranian Tanker Leaves Gibraltar Over U.S. Objections


LONDON—The Iranian tanker impounded by Gibraltar sailed out of the British overseas territory on Sunday over the objections of the U.S., a Gibraltar official said, raising hopes that Iran would reciprocate and release a British-flagged tanker in the Persian Gulf. The ship, renamed the Adrian Darya 1 and given an Iranian flag, left Gibraltar’s waters around 11 p.m. local time ... Read More »

South Korea imports more U.S. oil in July as Iran shipments on hold

A two-mile Canadian Pacific train loaded with oil tank cars idles on a track in Enderlin, North Dakota, November 14, 2014.  REUTERS/Ernest Scheyder

SEOUL : South Korea’s oil imports from the United States and the United Arab Emirates jumped in July, with Iranian shipments remaining at zero for a third month due to U.S. sanctions, customs data showed on Thursday. South Korea, typically one of Tehran’s major Asian oil customers, halted importing Iranian crude from May after the U.S. government announced an end ... Read More »

Abu Dhabi can’t afford to keep Iran out of Dubai


Writing an article in Lobe Log on Thursday, Esfandiar Batmanghelidj, an Iran-West business diplomacy expert and Columbia University graduate, says new official moves are in the making to revive old business ties between the two Persian Gulf neighbors. The article reads: As the world teeters on the edge of another financial crisis, few places are being gripped by anxiety like ... Read More »

Iran’s Non-Oil Trade With Pacific Alliance States Exceeds $13 Million


Iran traded 7,225 tons of non-oil commodities worth $13.74 million with the member states of Pacific Alliance in the last fiscal year (ended March 20, 2019) to register a 95.68% and 72.73% fall in tonnage and value respectively compared with the year before. The Pacific Alliance is a Latin American trade bloc, formed by Chile, Colombia, Mexico and Peru, all ... Read More »

Millions of barrels of Iranian crude are sitting in Chinese ports


Iranian oil tankers have been quietly offloading their supply into Chinese ports, according to ship tracking data, despite U.S. sanctions on crude from the Islamic Republic. These flows, which experts say show no sign of stopping, could seriously disrupt U.S.-China trade talks as well as oil markets if Beijing decides to actually use them. Estimates as to the volume of ... Read More »

Iran’s Oil Exports To China Decline Further In June


The latest figures issued by China’s customs authorities show Iranian oil imports declined further in June reaching a low of 208,205 barrels per day, down 60 percent from June 2018. Iran’s oil exports had also declined in May, when the United States phased out limited exemptions it had offered to a handful of countries, including China, for six months. The ... Read More »

China’s Still Taking Iran Oil Weeks After U.S. Toughens Sanction


China’s still importing oil from Iran weeks after the U.S. imposed sanctions aimed at halting sales of crude from the Persian Gulf nation. Official customs data on Friday showed China imported 855,638 tons in June, the equivalent of about 209,000 barrels a day. While that’s less than in May and the lowest since mid-2010, the data adds to speculation that ... Read More »