President Donald Trump will decide by May 12 whether to restore U.S. economic sanctions on Tehran, which would be a severe blow to the 2015 pact between Iran and six major powers. Under the deal, Tehran agreed to curb its nuclear program in return for relief from economic sanctions. Trump’s predecessor, Barack Obama, struck the […]
he last Iranian year, which ended in March, saw several interesting developments for Iranian energy, both domestically and internationally. Numerous challenges remain, hampering the growth of the country’s energy industry – not the least due to complex politics in Iran and abroad. In particular, Iranian energy is overshadowed by mounting uncertainty due to the standoff […]
Iran and Turkey have started implementing a deal finalized by the two neighboring countries last year to use their national currencies in mutual trade with the first letter of credit being opened by Bank Melli Iran on Monday. According to Central Bank of Iran, as part of the agreement to use Iranian rial and Turkish […]
Changing international sanctions regimes continue to create an environment of uncertainty for foreign companies aiming to participate in Iran’s energy industry. Mehrnoosh Aryanpour, managing partner of the Tehran office of Gide Loyrette Nouel, outlines a path forward for ensuring stability in projects undertaken by Iranian-foreign joint ventures. • On Iran’s attractiveness for investment: “Foreign entities […]
EU foreign ministers on Monday discussed how they could persuade the US not to pull out of the Iran nuclear deal, but stopped short of imposing new sanctions on Tehran. Britain, France and Germany used a meeting of the EU’s 28 foreign ministers to try to build support for expanding sanctions against Iran to punish […]
Coco Ferguson first saw the potential in logistics real estate in East Africa, where as a co-founder of Nairobi-based Maris Limited, she raised raised USD 60 million to fund the development of Kenya’s first “Grade A” warehouses. Now she wants to replicate that success with Iran Warehouse, a company she founded alongside Nader Sianaki, whose […]
In a decisive move intended to stop the further devaluation of the rial, the Rouhani government announced it would unify the official and free market dollar exchange rates, settling on an official rate of IRR 42,000. First Vice President Eshagh Jahangiri made the announcement last night, declaring that trading dollars above the new rate would […]
Following intense tripartite negotiations, the Iranian government, employers and unions agreed to increase the country’s minimum wage by 19.8%, from 9.29 million rials ($245) per month to 11.14 million rials ($294.50). The deal will see the highest year-on-year growth in real terms since 2002. Workers and labor unions have scored this victory as the Iranian economy still reels from […]
Iranian President Hassan Rouhani said Monday that the United States would regret withdrawing from the nuclear deal, and that Iran would respond in “less than a week” if that happened. “We will not be the first to violate the accord but they should definitely know that they will regret it if they violate it,” Rouhani […]
Members of Russia’s State Duma (lower house of parliament) are determined to develop both business ties and political cooperation with Iran through the parliamentary dimension thus contributing to the implementation of the relevant agreements reached by the two countries’ presidents, State Duma Speaker Vyacheslav Volodin told Iran’s television. The speaker arrived in Tehran for an […]
The governor of the Riksbank, Sweden’s central bank, will visit Iran on April 5-6 at the invitation of Iran’s central bank governor Valiollah Seif. Stefan Ingves, the governor of the Riksbank will be leading a day of technical exchanges including a working dinner hosted by Sweden’s ambassador in Tehran, Helena Sångeland. The visit, which comes […]
India is set to offer a $3-4 billion development plan for the Farzad B gas field to Iran next week after Tehran reduced the scope of the project, two sources familiar with the matter said. Relations between the two countries, which have long held deep trade ties, were strained last year after Iran sought other […]
MOSCOW, April 2. /TASS/. The agreement on creation of a free trade zone between the Eurasian Economic Union and Iran may be signed within months, Russian Presidential Aide Yuri Ushakov said Monday. “The talks on drafting a temporary agreement on creation of an EAEU-Iran free trade zone have been finalized. The plan is to sign […]