Iraq to set up mechanism to buy Iranian gas, electricity

TEHRAN - Iraq is going to establish a trade mechanism to continue buying gas and electricity from Iran despite U.S. sanctions, AFP reported, citing senior Iraqi officials.

Without oil deal Instex will not work, Zanganeh says

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the European Union mechanism for trade with Iran, known as INSTEX, is not going to be useful without including oil sales.

‘U.S. sanctions not impeding Iranian aviation industry’s development’

TEHRAN - Managing Director of Iran’s National Airline (Iran Air) said the U.S. sanctions have not stopped Iran’s aviation industry’s continuous development, IRNA reported.

Iran’s oil exports rising despite U.S. pressures: CBI governor

TEHRAN – The governor of Central Bank of Iran (CBI) said the country’s oil exports are following an upward trend despite the U.S. pressures for cutting them to zero, IRNA reported.

CBI hosts a gathering of economists to discuss monetary issues

TEHRAN – In a meeting with the country’s economists in Tehran on Monday, the governor of Central Bank of Iran (CBI) explored issues like Integrated Forex Market, open market operations (OMO), liquidity and inflation, IRIB reported.

Zanganeh denies reports of decline in Iran’s oil exports

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that reports about recent declines in Iranian oil exports are not true.

By Ebrahim Fallahi

Petro-refinery: Iran’s new weapon against U.S. sanctions

Increasing the country’s petro-refining capacity has recently become a hot topic among Iran’s top research institutions and research centers as a key defense mechanism against the impacts of the U.S. sanctions on the country’s oil industry.

CBI unveils plans to compensate oil budget deficit in sanctions era

TEHRAN – The governor of the Central Bank of Iran (CBI) has said three plans have been developed aimed to compensate the probable budget deficit resulted from the U.S. sanctions on the country’s oil industry, Tasnim news agency reported.

‘German companies ignore U.S. sanctions in trade with Iran’

TEHRAN – Dozens of German companies are still continuing their activities in Iran and keeping their offices in the country despite the rising pressures from the U.S. government, the Portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported on Saturday.

China continues buying Iranian LPG despite U.S. sanctions

TEHRAN – China is still importing liquefied petroleum gas (LPG) from Iran after the U.S. imposed sanctions on the country’s oil industry, Bloomberg reported citing the Paris-based energy researcher Kpler SAS.

U.S. cannot reach goals of Iran’s oil sanctions: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the U.S. won’t be able to realize the goals it’s pursuing by sanctioning Iran’s oil industry, IRIB reported.

BY: Haniyeh Sadat Jafariyeh

Road from oil-reliant economy to oil free one

The U.S.-led sanctions, imposed to squeeze Iran’s oil-reliant economy by restricting oil revenues, has made the need for moving toward a non-oil economy for Iran ever-increasing.

‘Iran to initiate new economic transactions despite U.S. will’

TEHRAN- Iran is to kick off new economic transactions with other countries despite the will of the U.S. that wants to cut Iran’s economic ties with the world, the chairman of Economic Committee of Majlis stated.

Petchem sanctions, political theatrics: NPC head

TEHRAN- Imposition of sanctions by the U.S. on Iran’s petrochemical sector is some political theatrics which will not impact Iran’s petrochemical output and exports much, National Iranian Oil Company (NPC) Head stated.

‘Iran-Japan Joint Chamber of Commerce to be set up soon’

TEHRAN- Iran-Japan Joint Chamber of Commerce will be opened in Tehran in near future, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Chairman Gholam-Hossein Shafeie announced.

BY: Ebrahim Fallahi

“Redundant” sanctions vs. “resilient” economy

As the United States sanctioned Iran’s Persian Gulf Petrochemical Industries Company (PGPIC) on Friday, many analysts and officials believe them to have no significant impact on the country’s economy in a broad sense.

By Ebrahim Fallahi

‘Iran to maintain metal exports despite U.S. sanction’

TEHRAN - Iranian deputy industry, mining and trade minister said the ministry has taken necessary measures to maintain the country’s metal exports despite U.S. sanctions.

China’s Bank of Kunlun starts operation in Iran

TEHRAN- China’s Bank of Kunlun started its activity in Iran, Vice Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Pedram Soltani announced on Thursday.

Iran opposes moving OPEC’s next meeting to July: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh, in a letter seen by Reuters, said he disagreed with an OPEC proposal to reschedule the meeting to early July.

HK disparages U.S. warnings on violating Iranian sanctions

TEHRAN – Hong Kong has dismissed U.S. threats of penalty for receiving an oil vessel which carries Iranian oil to the autonomous city, Sputnik reported on Thursday.

Health Ministry denies shortage of wound dressings for EB patients

TEHRAN – While reports published on Monday claimed that U.S. sanctions hindering wound dressing import, threatened the lives of Iranian Epidermolysis Bullosa (EB) patients, an official with Health Ministry announced that there are a sufficient amount of wound dressings in the country for the current year ending on March 19, 2020.

India seeking to resume oil imports from Iran

TEHRAN – India is planning to resume oil imports from Iran and the new government is going to hold talks with Iran in order to discuss ways of getting around U.S. sanctions like paying in national currencies.

U.S. grants Iraq waiver to continue importing energy from Iran

TEHRAN – U.S. has granted Iraq waiver to continue buying gas and electricity from Iran until the end of June, Press TV reported, quoting Joey Hood, chargé d’affaires of the U.S. Mission in Iraq, as saying on Wednesday. “Iraq has an exemption from the American sanctions, so that it can continue to purchase energy from Iran,” Hood told reporters in Baghdad.

Oil loadings from Iranian ports ongoing as before: PMO

TEHRAN – Deputy director of Iran’s Ports and Maritime Organization (PMO) said crude oil loadings and exports from the country’s ports has not been halted and the exports are ongoing just like before, ILNA reported on Saturday.

Over $3b allocated to supply basic goods in 2 months

TEHRAN – Iranian Finance and Economic Affairs Minister Farhad Dejpasand said the government has allocated over $3 billion for importing basic goods since the beginning of the current Iranian calendar year (March 21), IRIB reported.

Too early to assess impact of U.S. Iran sanctions on market: Novak

TEHRAN - Russian Energy Minister Alexander Novak Said the impact which the U.S. sanctions on Iranian oil industry will have on the global markets is still unclear, IRNA reported

S. Korea April oil imports from Iran rise 17% on year

TERHAN – South Korea’s April oil shipments from Iran increased 17 percent compared to the same period last year, Reuters reported citing the country’s customs data.

Iran delivers 130,000t of fuel oil to China

TEHRAN – A tanker carrying Iranian fuel oil unloaded the nearly 130,000-ton cargo into storage tanks near the Chinese city of Zhoushan, Reuters reported on Thursday citing ship tracking data on Refinitiv Eikon.

CBI admonishes EU for being all words on INSTEX

TEHRAN – The Governor of the Central Bank of Iran (CBI) criticized the European parties of the Iran nuclear deal for repeating ‘threadbare’ remarks over their promised trade mechanism for Iran (INSTEX) and failing in realizing their promises.

U.S. unable to halt Iranian petchem exports: MP

TEHRAN - A member of Majlis energy committee said the U.S. cannot restrain Iran from exporting its petrochemicals to the global markets, Shana reported.