‘Iran will proudly pass through sanctions’

TEHRAN- Kaveh Zargaran, the secretary general of the Federation of Iranian Food Association, said the condition created by the sanctions on his country is temporary and Iran will proudly overcome this condition.

UK Gov’t Settles $1.6 Billion Dispute With Bank Mellat

The British government has settled a 1.25 billion pounds ($1.6 billion) damages claim brought by Iran’s largest private bank in an 11th-hour, out-of-court deal following a dispute over sanctions.

Iran gives conditional green light to rescheduling OPEC meeting

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has agreed with rescheduling the upcoming OPEC meeting only if it is set to be on July 10-12, opposing the offer to postpone the meeting to July 3-4.

Iran providing Syria with technical training for labor market

TEHRAN – Iran has expressed readiness for providing Syria with technical training and support regarding the labor market policies and rehabilitation of rural employment, the portal of Iran’s ministry of cooperatives, labor, and social welfare reported on Tuesday.

Iran, Russia ink 8 co-op MOUs in 15th Joint Economic Committee meeting

TEHRAN –Iran and Russia signed eight memorandums of understanding (MOUs) in the last day of the 15th Iran-Russia Joint Economic Committee meeting which was wrapped up on Tuesday in Isfahan.

Tehran hosts conference on Iran-Oman-Qatar trade opportunities

TEHRAN- In a conference held in Tehran on Tuesday, Iran, Oman and Qatar investigated economic and trade opportunities, IRIB reported.

‘Expansion of economic ties with neighbors a priority in sanctions time’

TEHRAN- Development of economic relations with the neighboring countries is a priority for Iran under the sanctions condition, IRNA quoted Iranian Energy Minister Reza Ardakanian as saying on Monday.

Iran to replace its World Bank representative soon

TEHRAN - Iran is said to be planning to replace its envoy to the World Bank in near future, Tasnim news agency reported on Monday.

TPO holding seminar on Iran, Russia trade capacities in food, agriculture

TEHRAN – Iranian Trade Promotion Organization (TPO) is going to hold a seminar on identifying the trade capacities of Iran and Russia in agriculture and food industry today in Tehran, the organization announced.

IMIDRO to establish consortium to accelerate exploration projects

TEHRAN – Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said the organization is planning to establish a consortium in order to accelerate exploration projects in the mining sector.

By Ebrahim Fallahi

Oil market should expect oversupply in 2020, IEA says

TEHRAN – In its latest monthly oil market report called “2020 vision”, the International Energy Agency (IEA) said the “relentless” growth in U.S. production is going to significantly disrupt the supply and demand balance in the global oil market.

Iran’s ceramics, tile exports up 10% year on year

TEHRAN - Head of the Iranian Ceramic-Tile Producers Syndicate (IRCPS) said the country’s ceramic and tile exports in the Iranian calendar year of 1397 (ended on March 20, 2019) increased by 10 percent compared to its preceding year.

Iran, Russia take new steps for expansion of trade ties

TEHRAN– The 15th Iran-Russia Joint Economic Committee meeting and the second Iran-North Caucasus trade conference started on Sunday in Tehran, IRNA reported.

IRENEX to hold 3rd round of heavy crude oil offering on Tuesday

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.

WB sees impact of U.S. sanctions on Iran ‘wane’ in 2020-21

TEHRAN- The World Bank (WB) in its latest world economic outlook report “Global Economic Prospects”, predicts a 0.9 percent growth of gross domestic product (GDP) for Iran in 2020, indicating that the impact of the U.S. sanctions will ease in the mentioned year.

15th Iran-Russia Joint Economic Committee meeting kicks off today

TEHRAN– The 15th Iran-Russia Joint Economic Committee meeting and the second Iran-North Caucasus trade conference are due to kick off today in Tehran and Isfahan respectively, IRNA reported.

Iran's biggest gas storage center launched

TEHRAN – Iran’s biggest gas storage center was inaugurated in an official ceremony in Khorasan Razavi Province in northeastern Iran on Friday, Shana reported.

‘Turkey’s trade center in Iran completely active despite U.S. sanctions’

TEHRAN – Head of Iran-Turkey Joint Chamber of Commerce said Turkey’s trade center in Tehran is completely active and the trade is going smoothly between the two countries.

Italy among Iran’s top priorities in economic relations with Europe: ICCIMA

TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said on Wednesday that Italy is one of the major trade partners of Iran in the European Union and expansion of trade ties with Italy is a priority for Iran.

‘Iran welcomes Japan’s contribution to development of Chabahar Port’

TEHRAN – Iranian President Hassan Rouhani expressed satisfaction with Japan’s willingness for expansion of banking and economic ties with Iran and welcomed the Asian country’s contribution to the development of southeastern Chabahar Port.

15 mt/y of petchem output from PEIISEZ on agenda

TEHRAN – Iran plans to establish a new petrochemical complex in Hormozgan Province adjacent to Persian Gulf waters, which will increase the country’s petrochemical output by 15 million tons per year, Shana 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 produced 4.156m bpd of crude oil in 2018: BP

TEHRAN– Major multinational oil and gas company British Petroleum (BP), in its latest world energy report called “BP Statistical Review of World Energy”, has put Iran’s crude oil production at 4.156 million barrels per day (bpd) in 2018.

‘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.

Iranian-made freight locomotive unveiled

TEHRAN – Iran’s transport minister unveiled an Iranian-made freight locomotive on the sidelines of the 7th International Exhibition of Rail Transportation, Related Industries and Equipment, dubbed RAILEXPO 2019.

Iran-Slovakia business forum slated for late-June

TEHRAN – An Iran-Slovakia business forum is scheduled to be held at Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)’s building in Tehran on June 25, ICCIMA portal reported.

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 inks MOU with Iraqi Kurdistan to boost bilateral trade

TEHRAN – Iranian Secretariat of Free Zones High Council signed a memorandum of understanding with Importer and Exporter Union of Iraqi Kurdistan region for expansion of economic relations between Iranian free zones and the Kurdistan region.

How to manage country without oil: Parl. Research Center

TEHRAN – In its recent report, the Research Center of the Iranian Parliament has discussed ways to reach a non-oil economy, the one which is not dependent on oil revenues.

350MW to be added to Iran’s power generation capacity

TEHRAN - With three new power plant units going operational this week, the country’s power generation capacity is going to be increased by 350 megawatts (MW), Tasnim reported on Sunday, quoting an energy official as saying.