Economy

“If all countries including Iran, Russia, Venezuela, OPEC (Organization of Petroleum Exporting Countries) countries and all main producers decide to freeze production, we will be among them,” Mohammed bin Salman told Bloomberg on Friday. He further claimed that a decline in the global oil prices is not likely to affect …

Gas condensate output from the gas field reached 120 million barrels last year, showing a 15-percent rise compared to 104 mb produced a year earlier, Shana quoted Ali Akbar Shabanpour as saying on Saturday. The total gas produced in the gas field last year also witnessed a 15 percent growth, …

According to a report carried by AP on Friday, the US Treasury Department has prepared a general license permitting offshore financial institutions to access dollars for foreign currency trades in support of legitimate business with Iran. It would allow dollars to be used in currency exchanges as long as no …

Levon Iolyan told a government meeting that Iran would resume financing for the project, which was suspended in 2013, and would provide a $ 2 million grant, Reuters reported. The project envisages construction of a gas distribution network in the towns of Megri and Agarak, not far from the border …

Speaking to the Tasnim News Agency on Monday, Petrov said the representatives of Bulgarian banks are accompanying the high-ranking delegation visiting Iran. He further expressed the hope that banking ties between the two countries would resume as soon as possible to help boost trade relations. The deputy minister noted that …

“…foreign banks’ investment in the country leads to rise in the sense of security of foreign investment and trust of international economy,” Seyed Mohsen Tabatabaei, the secretary of Iran’s Urban Economics Scientific Association (IUESA), said in an article sent to the Tasnim News Agency on Monday.  The full text of …

“This (selling US technology to Iran) is a significant new burden on trade with ZTE,” a senior official at the Commerce Department told Reuters on Sunday. The move will take effect on Tuesday. The company issued a statement late on Sunday saying it was “highly concerned” about the latest reports. …

Bhairav Trivedi told Reuters on Sunday that Network International is negotiating processing debit, credit and other payment transactions with leading Iranian banks. He added the banks are among the country's largest public and private lenders. "We believe there are a lot of opportunities in Iran to expand our market, but …

On Sunday, the Monte Toledo oil tanker became the first to deliver Iranian crude into Europe since mid-2012, Bloomberg reported. The tanker carried a haul of one million barrels of crude in just 17 days. The 275-meter tanker started offloading its cargo into a refinery owned by Cia. Espanola de …

According to a report carried by the Press Trust of India (PTI) on Sunday, Gholamali Kamyab is expected to travel to India later this month to discuss payment options. The report added New Delhi plans to settle its payments to Iran in rupees. However, Iran is no longer keen on …