ICCIMA board of representatives presents reports in trade, currency, transport, transit

TEHRAN- During the 33rd session of the 10th term of the Board of Representatives of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) while issuing a statement centered on appreciating the warriors and veterans of the Ramadan War and supporting the negotiation process and the agreement, entrepreneurs hosted Mohammad Reza Aref, the First Vice President of Iran.

By Mahnaz Abdi

Iran emerges as critical transit link between Iraq, Afghanistan, South Asia

TEHRAN- Recent developments in Iran's transport and logistics sector have underscored the country's growing importance as a regional transit hub connecting the West Asia with Central and South Asia.

Trump's Iran war: A $40 billion catastrophe that hurts Americans most

TEHRAN- When Donald Trump last week declared victory in his war against Iran, he painted a picture of American triumph. "OIL IS FLOWING, IRAN CAN NEVER HAVE A NUCLEAR WEAPON... PRICES ARE DROPPING," he boasted on social media. But a comprehensive CNN analysis of the 100-day conflict reveals a devastating reality that the President's all-caps pronouncements cannot obscure: this was a war that bankrupted American taxpayers, emptied the nation's strategic reserves, and inflicted economic pain on ordinary families—all while killing more than 7,500 civilians in the region.

Robustness of Iran’s food security structure proven during crises: agriculture minister

TEHRAN- The minister of agriculture, emphasizing the high resilience of the country's food security system, stated: Despite wars and domestic and international challenges over the past year, not the slightest disruption has occurred in ensuring Iran's food security, and now, relying on science and technology, dependencies in strategic areas must be reduced.

‘Reducing Iran's oil exports to zero; A wish that never came true’

TEHRAN- The admission of the ineffectiveness of oil sanctions against Iran comes after the signing of the memorandum of understanding ending the war between America and the Zionist regime against Iran, voiced by American officials. This follows Mohsen Paknejad, the oil minister, having previously responded decisively to Donald Trump's "maximum pressure" order aimed at reducing Iran's oil exports to zero, declaring that America's maximum pressure policy on Iran's oil exports has failed and that reducing Iran's oil exports to zero is a wish they will never achieve.

Annual monetary, forex policy conference calls for structural economic reform, inflation control

TEHRAN- The 33rd Annual Conference on Monetary and Foreign Exchange Policies opened on Sunday morning under the theme “Requirements for Aligning Fiscal and Trade Policies with Monetary and Foreign Exchange Policies to Protect the National Currency and Control Inflation.” The event was attended by the President of Iran and held at the Central Bank of Iran’s conference center.

Combined rail transit from Iraq to Afghanistan begins from Kermanshah railway station

TEHRAN- The Director General of the Arak and Kermanshah Railway Region said: In an important step in the development of international transport corridors and increasing the railway's share in regional transit, the first combined rail transit shipment from Iraq to Afghanistan was operationalized through the western axis of the country and Kermanshah freight station.

Iran submits proposals for expanding energy co-op among SCO member states

TEHRAN- Iranian deputy energy minister, at the Shanghai Cooperation Organization (SCO) Energy Ministers' meeting, emphasizing the necessity of expanding regional cooperation in the energy sector, presented five operational proposals of the Islamic Republic of Iran for the development of energy cooperation among the member countries of this organization.

Iran, Russia discuss expansion of energy cooperation

TEHRAN- Iran’s Deputy Energy Minister Mostafa Rajabi Mashhadi announced a bilateral meeting with the Russian Energy Minister on the sidelines of the 6th Meeting of Energy Ministers of the Shanghai Cooperation Organization (SCO) in Bishkek, Kyrgyzstan.

Iran presents its priority project list to Islamic Development Bank

TEHRAN- The Deputy Minister of Economic Affairs and Finance and Head of the Organization for Investment, Economic and Technical Assistance of Iran, as the alternate member of the Board of Executive Directors of the Islamic Development Bank, met and held talks with Mohammed Al-Jasser, the President of the Islamic Development Bank.

Tehran, Moscow focus on banking co-op development, facilitating trade exchanges

TEHRAN- The Governor of the Central Bank of Iran (CBI), in a meeting with the Governor of the Central Bank of Russia, emphasized the expansion of banking cooperation, increasing bilateral trade, and strengthening the North-South Corridor.

Iran's plan to connect electricity grids of SCO member states welcomed

TEHRAN- The Deputy Head of the Renewable Energy Organization and Electricity Energy Efficiency Organization (SATBA) announced the welcoming of Iran's plan to connect the electricity grids of Shanghai Cooperation Organization (SCO) member states and said: The development of renewables has increased the opportunity for convergence.

Urgent plan to increase gas production launched

TEHRAN- The Minister of Oil has announced the implementation of an urgent plan to boost gas production in the onshore sector, stating: "Utilizing all available capacities, the program to increase gas production—alongside field development and associated gas gathering—is being pursued with accelerated momentum."

Iran, Kazakhstan pledge to integrate logistics chains, boost bilateral trade to $3b

TEHRAN- Farzaneh Sadegh, Minister of Transport and Urban Development of Iran, traveled to Kazakhstan to follow up on the agreements made during the President's visit.

Private sector proposals presented to parliament speaker on Iran-China economic ties

TEHRAN- The head and a group of members of the Board of Directors of the Iran Chamber of Commerce, Industries, Mines and Agriculture, along with a number of representatives from chambers of commerce, specialized committees, economic organizations, and joint chambers of commerce, met and held talks with Parliament Speaker Mohammad Baqer Qalibaf on Wednesday, June 17.

US strategic oil reserve falls to 4-decade low as war on Iran drains emergency stocks

TEHRAN- The economic consequences of Washington's military confrontation with Iran are becoming increasingly visible inside the United States itself, as the country's Strategic Petroleum Reserve (SPR) has fallen to its lowest level in more than four decades.

How domestic production prevents collapse of Iran’s economy during war

TEHRAN- The third imposed war and the U.S. military attack on Iran served as a serious test of the country's economic resilience. Despite damage to certain infrastructures, a maritime blockade, and the continuation of sanctions pressure, the wheels of production and the supply of essential goods did not stop turning. The experience once again demonstrated a crucial reality: in today's world, security is not built solely behind defense systems, it is also produced in factories.

Central Bank of Iran hosts ACU technical committee permanent meeting

TEHRAN- The permanent meeting of the Technical Committee of the Asian Clearing Union (ACU) was hosted by the Central Bank of Iran (CBI), focusing on the use of member countries’ national currencies within the ACU framework, upgrading the Union’s infrastructure for exchanging financial messages, and expanding the ACU’s capacity through enhanced knowledge-sharing.

$900m in resources attracted for renewables; home solar packages to be offered soon

TEHRAN- The CEO of SATBA (Iran's Renewable Energy and Energy Efficiency Organization) announced the receipt of more than $900 million in resources for the development of renewable power plants, and spoke of plans to launch the country's first solar project fund, offer home solar packages equipped with hybrid inverters and storage, and target achieving 12,000 MW of renewable capacity by the end of the year.

MOUs signed with private sector for rail transport development

TEHRAN- Five memoranda of understanding for the development of rail transport were signed in the presence of the Minister of Transport and Urban Development, the Managing Director of the Islamic Republic of Iran Railways, the Head of the Mostazafan Foundation, and representatives of the private sector.

Iran war shatters global markets, leaves US economy, Trump’s base in ruins

TEHRAN- More than 100 days into the US-Israeli war against Iran, the economic fallout is crippling economies worldwide, but few are suffering as badly as the United States.

New well of South Pars phase 11 enters production cycle

TEHRAN- The CEO of Pars Oil and Gas Company announced the entry of the eleventh well of platform B of phase 11 of South Pars gas field (SPD11B) into the production cycle.

Iran, Russia to cooperate in implementing BRICS grain exchange

TEHRAN- Iranian Minister of Agriculture, referring to the necessity of developing cooperation in maritime transport and utilizing the port capacities of Iran and Russia, said: "Implementing the 'BRICS Grain Exchange' requires the support and backing of Russia as a BRICS member country, neighbor, and strategic partner."

War on Iran fuels inflation shock, slows European growth as ECB raises rates

TEHRAN- The economic consequences of the ongoing U.S.-Israel conflict with Iran are spreading far beyond the West Asia, triggering inflationary pressures, weakening growth prospects, and forcing central banks to take defensive measures.

‘Iran's presence in BRICS an opportunity to enhance urban diplomacy, develop urban regeneration’

TEHRAN- The Managing Director of Iran's Urban Regeneration Company, explaining the goals and dimensions of the Islamic Republic of Iran's presence at the BRICS summit, described this presence as a strategic opportunity to strengthen urban diplomacy, develop international cooperation in the field of urban regeneration, transfer experience, attract innovative ideas, and enhance Iran's position in emerging global equations.

Iran-India agricultural cooperation should expand to a strategic level: Iranian minister

TEHRAN- Iran's Minister of Agriculture, referring to India's achievements in meeting the food needs of its population of over one billion people, praised India's successful experiences in agriculture and rural development, and called for expanding joint cooperation between the two countries in agricultural research, water resource management, modern technologies, mechanization, seed production, food industries, and agricultural trade.

Iran starts LPG exports from Khorramshahr Port to Afghanistan, Pakistan

TEHRAN- The Director General of Khorramshahr Port and Maritime Department announced the successful completion of the first liquefied petroleum gas (LPG) export operation via combined transport to destinations in Afghanistan and Pakistan.