News

Comet provides a weekly bulletin of Iran business news from the world's leading publications. Our weekly news aggregator provides our clients and associates with the most relevant and up to date news snapshots. Furthermore, our media team source and provide scanned clippings direct from the country's top publications and broadsheets.

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Europe Failed on Iran, but It’s Not Helpless

Iran’s decision to scale down its commitments under the 2015 nuclear deal abandoned by President Donald Trump signifies a serious foreign policy failure for the EU and its member states. They have acted too meekly and ineffectively in the face of unilateral U.S. sanctions, and this unnecessary softness may well come back to haunt them as […]

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Moscow, Iran Urge Europe to ‘Fulfil Obligations’ Under Nuclear Deal

Russian Foreign Minister Sergei Lavrov and Iranian counterpart Mohammad Javad Zarif on Wednesday called on European signatories to abide by the Iran nuclear deal, following a meeting in Moscow. Zarif’s visit came as Tehran said it had stopped respecting limits on its nuclear activities agreed under the deal until other signatories find a way to bypass renewed US sanctions. […]

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Russia’s Lavrov to Hold Talks with Iran’s Zarif

Russian Foreign Minister Sergei Lavrov will meet his Iranian counterpart Javad Zarif in Moscow on Wednesday, the Russian foreign ministry said Tuesday. The two diplomats, longtime allies on a number of issues including the Syrian conflict, will discuss “key issues of the international and regional agenda” as well as bilateral cooperation, the ministry said in a statement. “Cooperation with […]

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Europe Tries to Sidestep the U.S. Finance System

The standoff between the Trump administration and Iran is escalating, and Europe is caught in the middle. The U.S. is exerting pressure through renewed economic sanctions, and hardliners in Tehran are issuing fiery threats of retaliation. Brussels and national governments in the U.K., France and Germany, meanwhile, have been criticized by both sides for promising […]

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Pakistan PM Imran Khan Makes First Visit to Iran

Pakistani Prime Minister Imran Khan began his first official visit to Iran on Sunday for talks set to focus on strengthening ties and countering terrorism, state media reported. Khan began his two-day visit with a stop in the northeastern holy city of Mashhad, Iran’s second largest and home to the shrine of Imam Reza who is revered by Shiite muslims, state […]

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Dutch Envoy: Europe Still Following up INSTEX

The Netherlands Ambassador to Iran Jacques Werner said the European Union is a still a partner for Iran nuclear deal and is following up the Instrument in Support of Trade Exchanges (INSTEX) to continue financial transactions. Speaking to IRNA, Werner said despite new sanctions against Iran and the US withdrawal from Iran Deal also known […]

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Tehran Stocks Keep Climbing

After crossing all-time highs on Sunday, the stock market conquered new peaks Monday breaking through another resistance level. The fresh rally lifted the benchmark index TEDPIX 5,721.76 points or 2.92% to end trading at 201,805.9. According to Donyaye Bourse analytical website, a flow of new liquidity was the main driving force behind the market boom. […]

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Iran Natural Gas Exports Unimpeded Despite Recent Floods

The pipeline through which Iran’s gas is exported has not been damaged by the recent floods, director of gas distribution at the National Iranian Gas Company said. “The pipeline, which passes from Lorestan and Khuzestan provinces, is not harmed and gas export continues without problems,” IRNA quoted Saeid Momeni as saying. Iraq is the main […]

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Squeezing Gas Prices or Iran? Trump Must Choose

The deadline for the US administration to decide whether to extend sanctions waivers granted to buyers of Iranian oil is now less than a month away, and President Donald Trump faces a tricky decision. He undoubtedly wants to increase pressure on the Persian Gulf nation, but in doing so he risks stoking oil prices and with […]

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A Year after US Withdrawal from the Nuclear Deal, Iran Digs in

Nearly a year after the Trump administration unilaterally withdrew from the Iran nuclear deal, it is loudly proclaiming the harsh impact of reinstated US secondary sanctions on the Iranian economy. As a result of reduced revenues, US officials assert that Iran is under increasing pressure to scale back its support for proxy groups that have widened Iran’s […]

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Iran Says OPEC+ Pact Will Be `Easy’ to Extend Beyond June

The OPEC+ group could easily extend its agreement on oil-production cuts, according to Iranian Oil Minister Bijan Namdar Zanganeh. “My understanding is, there is no difficulty extending the cooperation. It should be easy” to prolong the deal beyond the first half of the year, Zanganeh told reporters in Moscow following a meeting with his Russian […]

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With Focus on Economic Relations, Iran-Iraq Ties Move Into the ‘Daylight’

Expectations were high when Iranian president Hassan Rouhani visited neighboring Iraq last month. During the trip, his first as president, Rouhani signed multiple trade deals with Iraq, where the return of peace and stability has renewed the government’s focus on economic development. The deals covered a variety of sectors including railway construction, electricity infrastructure, and […]

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Iraq Needs Three Years on Iran Power: Parliament Speaker

Iraq’s parliament speaker voiced hope Friday that the United States will keep waiving sanctions on energy purchases from Iran, saying his country will need to import electricity from its neighbor for three years. President Donald Trump’s administration has sought to cut off all exports from Iran but has twice granted three-month exemptions to Iraq, mindful of chronic blackouts that have reignited unrest in […]

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Iran and Armenia Propose Gas Transit to Georgia

A state visit by Armenian Prime Minister Nikol Pashinyan to Iran has resulted in an agreement between the two countries to cooperate on the potential transiting of Iranian gas through Armenia to Georgia. If implemented, the agreement promises to be controversial, not least because it would involve Armenia challenging Russian control of its gas distribution sector, and potentially pitching both Armenia and Georgia into conflict […]

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Iran ready to boost natural gas exports to Armenia

Dubai — Iran is ready to increase natural gas exports to Armenia, and is willing to start talks about shipping the fuel to Georgia, Mehr news agency reported, citing President Hassan Rouhani. “We are prepared to negotiate for the export of gas through Armenia to Georgia, as well as the connection of the Persian Gulf to […]

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A Clash Is Coming Over America’s Place in the World

In the past several months, a meaningful debate has finally started to emerge over America’s role in the world. Politicians and analysts — left, right and center — are conceding that longstanding mistakes have brought the United States to an uncertain moment. Provoked by President Trump, they are concluding that the bipartisan consensus forged in […]

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Rouhani Wants Iran’s Largest Pension Fund Manager Privatized

President Hassan Rouhani said the investment arm of Iran’s main social security provider must be privatized as part of a wider effort to scale back inefficient public-sector involvement in the economy. “The promise I have made to the parliament and people is that next year will be the year of privatization of large companies, including […]

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Afghanistan Launches New Export route to India through Iran

KABUL (Reuters) – Afghanistan began exports to India through an Iranian port on Sunday, official said, as the landlocked, war-torn nation turns to overseas markets to improve its economy. Officials said 23 trucks carrying 57 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from western Afghan city of Zaranj to Iran’s Chabahar […]

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Ahead of Saudi visit, China seeks ‘deeper trust’ with Iran

BEIJING (Reuters) – China wants to deepen “strategic trust” with Iran, the Chinese government’s top diplomat told Iran’s foreign minister on Tuesday, days before Saudi Arabia’s crown prince visits Beijing, underscoring China’s difficult Middle East balancing act. Saudi Arabia’s King Salman visited Beijing in 2017, and Saudi Crown Prince Mohammed bin Salman arrives in China […]

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Despite sanctions, Iran’s oil exports rise in early 2019

LONDON (Reuters) – Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from U.S. sanctions. Shipments are averaging 1.25 million barrels per day (bpd) in February, Refinitiv Eikon data […]

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Rift Between Trump and Europe Is Now Open and Angry

MUNICH — European leaders have long been alarmed that President Trump’s words and Twitter messages could undo a trans-Atlantic alliance that had grown stronger over seven decades. They had clung to the hope that those ties would bear up under the strain. But in the last few days of a prestigious annual security conference in […]

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Iran’s man grabs European spotlight with anti-Trump focus

MUNICH, Germany — The U.S. is trying desperately to isolate Iran, but on Sunday Iranian Foreign Minister Mohammad Javad Zarif seized the stage of the world’s premier security conference. He held the audience of power-brokers rapt for nearly 40 minutes as he thrashed the Trump administration, fired a pointed demand at Europe to do more […]

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Germany Rejects US Call to Leave Iran Nuclear Deal

Germany on Friday rejected an appeal by US Vice President Mike Pence for Europeans to withdraw from the Iranian nuclear deal and isolate Tehran. Foreign Minister Heiko Maas defended the 2015 agreement under which Iran drastically scaled back its nuclear program in return for sanctions relief. “Together with the Brits, French and the entire EU we have found […]

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Iran, Russia move closer to organizing finance for wheat deal

MOSCOW, Feb 14 (Reuters) – Iran, Russia and Kazakhstan are making progress on organizing finance for a long-planned wheat deal that could double or triple supplies to Iran, the secretary general of Iran’s Federation of Food Industry Associations said. Talks started a year ago, but stalled due to a lack of financing. The deal involves […]

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Turkey ‘ready’ to launch SPV with Iran to bypass US sanctions

Turkish President Recep Tayyip Erdogan has announced that Ankara is “ready” to establish its own trade mechanism with Iran, allowing companies from the two neighbouring countries to continue doing “legitimate” business amid punishing US sanctions. Erdogan made the statement on Thursday during a bilateral meeting with Iranian President Hassan Rouhani on the sidelines of the three-party talks on Syria in the Russian […]

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US Fails to Halt Iran Bid to Free Frozen Billions

An international court Wednesday ruled Iran can proceed with a bid to unfreeze assets in the United States, rejecting Washington’s claims the case must be halted because of Tehran’s alleged support for international terrorism. Washington had argued that Iran’s “unclean hands”—a reference to Tehran’s suspected backing of terror groups—should disqualify its lawsuit to recover USD 2 billion in assets frozen […]

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The road to peace runs through Tehran

Even if an American military pullout from Afghanistan is on the cards, the U.S. will want to leave behind a stable country. And any peace settlement in Afghanistan will stand a better chance of staying on the rails if it is supported by regional powers. In other words, ties between Afghanistan and its neighbours, including […]

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Trading with Iran via the special purpose vehicle: How it can work

Following weeks of speculation, France, the United Kingdom, and Germany (the E3) have formally registered a special purpose vehicle (SPV) to help facilitate trade with Iran – trade that the return of US sanctions has significantly hampered. This comes after months of technical coordination between member states led by the European External Action Service. While […]

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Rouhani Says Iran Ready to Accept Friendly US Ties if it ‘Repents’

Iranian President Hassan Rouhani said Wednesday his country would be ready to establish “friendly relations” with the United States if it apologized for past wrongs. “Our slogan is friendly relations with the whole world,” he said. That would even include “America, if it repents… and apologizes for its previous interferences in Iran, and is prepared to accept the […]

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How US sanctions could be boosting Iran’s presence in Iraq

Geopolitical power projection could be, at first sight, the logic underlying Iran’s policy of expanding ties with and playing a role in Iraq. But in recent years, and with the growing necessity arising from the reimposition of US sanctions, Tehran has chosen to also focus on geo-economic interests in Iraq. It has tried, therefore, to augment its share […]

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Europe Tests the Boundaries on Iran

On January 31, 2019, France, Germany, and the United Kingdom announced their most substantive move yet to save the 2015 Iran nuclear deal, to which they are signatories, from collapse. With the European Union’s blessing, the three states established a special channel that shields trade with Iran from U.S. sanctions. The Instrument in Support of Trade Exchanges, […]

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EU Says Preparations for Iran SPV Are at ‘Advanced Stage’

The European Commission said it’s seeking to launch “very soon” a special purpose vehicle to help European companies bypass U.S. sanctions on Iran, with three European diplomats saying the official unveiling could come as early as Monday. Progress has been slow in developing the SPV, a key element of the European Union’s effort to keep […]

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As Sanctions Impede Business, Where Next for Iran-Italy Relations?

Iran-Italy relations, which date back to the time of the Roman and Persian empires, are marked by important affinities. Historical and cultural traditions as well as commercial and economic connections have deeply shaped mutual perceptions. Unlike the other major EU countries, Italy is not seen as a former colonial power still trying to “dominate” relations […]

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Iranian Central Banker Sees Stable Rial Despite Pressure from U.S.

Iran has adequate currency supplies to cover trade, and the rial has stabilized after “a heavy attack” from the U.S.-led economic sanctions imposed on the Islamic Republic, the head of the country’s central bank said. Iranians need to adjust their spending habits and “take seriously” sustained efforts by the U.S. to destabilize the economy, while […]

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Why The Iran Nuclear Deal Still Matters for Europe

Three years ago, Iran and global powers implemented the Joint Comprehensive Plan of Action (JCPOA), curtailing the country’s nuclear weapons program in exchange for sanctions relief. The deal continues to hang together—but only just. There are growing indications of signatory states’ fatigue and frustration in attempting to prevent the collapse of the JCPOA, following the […]

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Trump administration finds its Iran policy not working

WASHINGTON — The Donald Trump administration conducted a preliminary internal assessment of its Iran “maximum pressure” policy this month and determined that it is not working, according to a new report. Such an assessment could drive administration efforts to try to provoke Iran to leave the nuclear deal, possibly by urging a potential inspections crisis at the […]

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Opel Helps France’s PSA Buck China, Iran Auto Downturn

French auto giant Groupe PSA, which makes the Citroen and Peugeot brands, reported record vehicle sales Tuesday as the acquisition of General Motors’ Opel unit helped offset a sharp downturn in key markets China and Iran. PSA sold 3.88 million vehicles, up 6.8 percent from 2017 when it acquired the Opel business which includes British-based Vauxhall. PSA said that […]

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Iranian Oil Heads to Korea After Months of Trump-Induced Lockout

A major Iranian oil buyer that shut out supplies last year even before U.S. sanctions on the Persian Gulf state took effect is finally set to receive cargoes once again. National Iranian Tanker Co.’s Silvia I is expected to reach South Korea — Tehran’s third-biggest customer before it stopped purchases in August — on Jan. 15, according […]

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Trump’s Risking Financial Disaster for America

President Donald Trump’s Iran policy has been reckless as regards Iran—it all but invites Tehran to return to an unconstrained nuclear program, and it reduces U.S. credibility to bargain on other contentious issues. But it has been far more reckless on the far more consequential matter of America’s relationships with allies and partners and especially […]

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How Europe’s Forthcoming SPV Can Help Iran Fight Inflation

Europe has yet to launch its special purpose vehicle (SPV) to support trade with Iran and while Iranian stakeholders grow increasingly impatient, some have begun to question the likely impact of the new mechanism. The chief complaint is that the initial SPV, if limited to humanitarian trade, will not have a meaningful economic impact for […]

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Iranian fintech firms carve their place in fast-changing landscape

Against the backdrop of an ailing yet dominant banking system that is struggling to upgrade its operations, Iranian fintech firms are slowly but steadily fashioning a position for themselves. Local developments in the past year have made it clear that fintech firms will be a major part if not the architects of the future landscape of financial services in Iran. On […]

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Iran, India Move Closer on Trade as EU Stalls

Iran will boost trade with India as the European Union struggles to find a way to circumvent a fresh US embargo on Tehran, Iranian Foreign Minister Javad Zarif said Tuesday. Brussels is working on a payment mechanism to keep financial transactions flowing with Iran, after the US ditched the 2015 nuclear deal with Tehran earlier this year and reintroduced […]

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Turkey resumes Iranian oil imports under U.S. sanctions waiver

LONDON (Reuters) – Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when U.S. sanctions on Iran were reimposed, trading and shipping sources said. The United States granted Turkey and other countries import waivers in early November. Turkey said it was permitted to take 3 million tonnes a year, equivalent […]

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India’s BPCL to buy Iranian oil in Feb after 3-month gap

NEW DELHI, Jan 7 (Reuters) – State-run Bharat Petroleum Corp will import 1 million barrels of Iranian oil in February after a gap of three months, with the nation’s overall purchases from Tehran remaining at 9 million barrels, three industry sources said. The United States in early November granted India a six-month waiver from sanctions […]

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Iranian steel exports steady despite sanctions: consultant

London — Iran’s steel exports have remained about steady in the first nine months of the current Iranian year despite the US’ reimposition in August of sanctions on metals trading, according to Mohsen Parvan, CEO of Tehran-based AASIM Consulting Group. For the full year, Iran’s steel exports may equal last year’s record of over 9 million […]

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Iran Approves Anti-Money Laundering Bill

An Iranian arbitration body gave its approval on Saturday to an anti-money laundering bill seen as crucial to maintaining international trade and banking ties, the official IRNA news agency reported. “The bill on amending the law to counter money laundering was approved with certain changes and will be sent to the parliament speaker to be communicated to the government,” […]

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US sanctions and the dynamics of Iran’s petroleum sector

Between 2016 and 2018, Iran’s energy sector was the main beneficiary of the lifting of nuclear-related sanctions. Increased oil production and exports, the return of international oil companies (IOCs), massive investments in renewable energies, introduction of new technologies into upstream and downstream sectors, etc., were among key developments in the industry. The reimposition of US […]

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Iran to Double Down on Investment in Oil’s Growth Engine India

Iran will invest about 15 billion rupees to expand a refinery run by Chennai Petroleum Corp. in south India, the company’s managing director said, amid U.S. sanctions on the Persian Gulf nation that have severely hit its oil exports. The state-run company is boosting capacity at its Nagapattinam facility by nine-fold to process 9 million tons per year and […]

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Iran Oil Exports: 8 Waivers and the OPEC Meeting

Last month, the Trump administration reimposed sanctions on Iran’s energy sector as part of its ‘maximum pressure’ campaign against Iran. But it nevertheless sought to prevent an unhelpful spike in oil prices ahead of the midterm elections. As a result the United States issued eight waivers to importers of Iranian oil: China, India, Japan, South Korea, […]

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US Grants Iraq 90-Day Extension to Iran Sanctions Waiver: Source

The United States has granted Iraq a 90-day extension to an exemption from reimposed sanctions on Iran to keep on importing energy, a government source said on Thursday. President Donald Trump reimposed crippling unilateral sanctions on Iran’s energy and finance sectors on November 5 following his May decision to abandon a landmark 2015 nuclear deal between major powers and […]

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Why Did Attempts to Isolate Iran Fail?

This year, the Valdai Discussion Club took part in the 2018 Doha Forum for the first time by holding a session titled “Russia’s evolving global role” on December 16 as part of the event’s business program. Director of PIR Center’s “Russia and nuclear non-proliferation” program Andrei Baklitsky was at the forum and shared his comments […]

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Iran urges EU to press Washington on Airbus deliveries: ISNA

DUBAI (Reuters) – Iran called on the European Union on Monday to press U.S. authorities to allow delivery of Airbus passenger aircraft purchased by Tehran, Iran’s student news agency ISNA reported.To upgrade its aging fleet, Iran Air ordered 200 passenger aircraft – 100 from Airbus, 80 from Boeing and 20 from Franco-Italian turboprop maker ATR […]

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Europe Loses If The Iran Deal Collapses

Iran is not the only loser if the Iran nuclear deal (the Joint Comprehensive Plan of Action or JCPOA) collapses. A collapse may be near given the U.S. exit from the deal, and U.S. sanctions not only affect American banks and companies but also prevent Europeans from trading with Iran. The U.S. policy is to […]

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Iran Widens Discount For Crude To Asia

Iran is going to offer its crude to Asian buyers, to be delivered in January, at US$1 per barrel less than this month, Reuters reports, citing a pricing document. The official selling price of Iranian Light crude was set at US$0.30 above the Platts Dubai/Oman average for January. This makes Iranian Light US$0.30 a barrel […]

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Iran, Russia-led bloc move toward free trade

Earlier this month, an interim agreement on free trade between Iran and the Eurasian Economic Union (EAEU) was approved at the regional body’s summit in the Russian city of St. Petersburg. After relevant legal procedures in Iran are fully carried out, the deal is expected to take effect as of early 2019. Seen as Iran’s biggest ever deal on free […]

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Iraq to seek exemption from U.S. sanctions on Iran: PM

BAGHDAD (Reuters) – Iraqi Prime Minister Adel Abdul Mahdi said on Tuesday he would send a delegation to the United States to seek an exemption from sanctions against Iran that would allow Baghdad to keep importing gas from Tehran. “The American side is cooperating with Iraq to find solutions that would remove pressure on Iraq […]

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German exports to Iran soar ahead of U.S. sanctions

BERLIN, Dec 11 (Reuters) – German exports to Iran soared in October, a month before the United States re-instated sanctions on the Islamic Republic to choke its oil and shipping industries, data seen by Reuters showed on Tuesday. The surge signals willingness among Germany’s small to medium-sized firms, or Mittelstand, to continue doing business with […]

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India’s HPCL to buy Iranian oil in Jan after six-mth gap

NEW DELHI, Dec 7 (Reuters) – State-run Indian oil refiner Hindustan Petroleum Corp will buy Iranian crude in January after a gap of six months, with the nation’s overall purchases from Tehran at 9 million barrels in the month, four industry sources said. The United States in early November granted India a six-month waiver from […]

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Iran says special channel for trade with Europe almost set up

Iranian officials have announced that a special channel to conduct trade with European countries has been established and will be implemented soon in order to facilitate trade while bypassing US sanctions and keeping the Iran nuclear deal alive. Ali Akbar Salehi, head of Iran’s Atomic Energy Organization and one of the top nuclear negotiators of the […]

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Iran moves closer to adopting law against funding terrorism

DUBAI (Reuters) – Iran’s parliament approved a tweaked draft law against funding terrorism on Wednesday which officials hope will bring Tehran closer to global standards and help remove it from investment blacklists as it faces renewed U.S. sanctions. The official news agency IRNA said lawmakers had included amendments requested by a powerful clerical body, which […]

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Asia buoys Iran as US sanctions hit

US withdrawal from the Iran nuclear deal is reinforcing a trend that was already underway as doubts mounted about the Donald Trump administration’s commitment to the Joint Comprehensive Plan of Action (JCPOA): Iran is looking east for its economic survival. Under waivers announced by the Trump administration in November, eight countries are permitted to continue […]

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Iran Hails Oil-For-Goods Deal With South Korea

Iran said Saturday it had finalized a deal with South Korea to trade oil for goods, skirting renewed US sanctions. “A mechanism has been devised for returning oil export revenues from South Korea, by which Iran’s oil export revenue will be bartered with imported goods,” Hossein Tanhayi, head of the Iran-South Korea chamber of commerce, told state news agency […]

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IRAN PULSE Iranians hail Europe’s ‘practical step’ in safeguarding nuclear deal

The Wall Street Journal reported Nov. 26 that Paris and Berlin are about to create a payments channel to maintain trade with Tehran in defiance of US sanctions. The news has been largely received in Iran as a signal that the Joint Comprehensive Plan of Action (JCPOA) will yet be salvaged. The channel, known as a Special Purpose Vehicle, has been under discussion for months […]

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Iran’s Saffron Seeks Global Recognition

The laborers edge their way across a field of bright purple flowers gathering up the world’s most expensive spice, a bounty that makes this dusty corner of Iran a crucial part of global cuisine. The delicate purple leaves of the Crocus sativus plant hold just three or four of the even more delicate red stamen, better known as saffron, […]

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Iran, Russia move to expand security collaboration

Iran’s deputy interior minister for security affairs, Hossein Zolfaqari, met with Vasilii Piskarev, the chairman of the Russian Duma’s Committee on Security and Corruption Control, on Nov. 5. At the meeting, both sides stressed the need to finalize a bilateral security agreement and described cybersecurity, the fight against terrorism and countering drug proliferation and illegal immigration as key aspects of such an accord. […]

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Qatar Airways to Expand Iran Flights Despite Sanctions

Qatar Airways announced Monday it is expanding operations in Iran, despite US sanctions on the Islamic republic and a Gulf diplomatic rift over accusations Doha was too close to Tehran. The carrier will begin twice-weekly flights to Isfahan in February 2019 and increase existing services to Shiraz and Tehran in January 2019, it said in a statement. “These latest […]

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Do Sanctions Really Constrain Iran’s Military Spending?

Do sanctions reduce the military spending in Iran? This is the question we sought to answer by modeling the effects of sanctions on military spending in Iran to investigate the impact of unilateral sanctions (where only the United States sanctions Iran) and multilateral sanctions (where the United States acts in conjunction with other countries to […]

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Iran says China’s CNPC replacing France’s Total in gas project

DUBAI (Reuters) – China’s state-owned CNPC has replaced France’s Total in Iran’s multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday. “China’s CNPC has officially replaced Total in phase 11 of South Pars but it has not started work practically. Talks need to be […]

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China Resumes Iran Oil Imports After Receiving Waiver

Asia’s largest buyer of Iranian oil is said to have resumed purchases from the Persian Gulf state following a one-month hiatus, a move that will help allay fears that U.S. sanctions on the OPEC producer will constrain global supplies. China will start loading the crude again in November after it halted purchases in October, according […]

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Iran-Iraq relations in light of US sanctions

The reimposition of US secondary sanctions has compelled Tehran to look for ways to reduce their negative impact. According to Iranian officials, one of the strategies is to increase trade and interaction with its neighbors. This is not new to Iran, as the country has pursued a policy of improving relations with immediate neighbors including investments in increased energy interdependency. Yet the past […]

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Iran Welcomes New European Initiatives’ for Non-Dollar Trade

LONDON (Reuters) – Iran on Wednesday praised European efforts to maintain business with Tehran despite U.S. sanctions, citing “constructive meetings” with British and French officials in Tehran this week on setting up a way to conduct non-dollar trade. Iranian Foreign Ministry officials voiced more hope for the move a day after Foreign Minister Mohammed Javad […]

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Iraq President Visits Iran

Iraq’s new President Barham Saleh made his first official visit to neighbouring Iran on Saturday, calling for “a new order in the region.” Saleh met his counterpart Hassan Rouhani to discuss trade, transport links and efforts to tackle dust pollution that plagues areas on both sides of the border. “It is now time for a new order in the […]

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Iranian firms dominate Baghdad expo as Saudis steer clear

BAGHDAD, Nov 12 (Reuters) – While Saudi Arabia courted Iraqi leaders behind closed doors at the weekend, its arch-foe Iran made a more public showing by turning out at the Baghdad International Fair, a shop window for business in Iraq. An entire hangar was set aside for some of the 60 Iranian firms participating. Vendors […]

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Iran Sticking to Nuclear Deal Conditions: IAEA

Iran has been abiding by the terms of its nuclear deal with global powers, the latest report from the UN atomic watchdog indicated Monday, days after fresh US sanctions hit the country. The International Atomic Energy Agency’s latest report showed that as of early November, Iran had been complying with the restrictions to its nuclear program laid down in […]

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Iran sanctions herald energy trouble for Caucasus nations

The resumption of wide-ranging American sanctions on Iran promises economic uncertainty for the Islamic Republic’s neighbors in the Caucasus: Azerbaijan, Georgia and Armenia. Washington’s goal of reducing Iran’s oil exports to zero will not directly impact any of three Caucasus states, as none of them imports Iranian crude. All three, however, have to various extents […]

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Iran Oil Waivers: How Buyers Are Lining Up After U.S. Exemptions

Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy. The exemptions mean at least some supplies from OPEC’s third-biggest producer will keep flowing into international markets, after its exports plunged almost 40 percent since April — the month before Washington announced the curbs. In a […]

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European ‘clearing house’ to bypass US sanctions against Iran

A special clearing house designed to allow European companies that trade with Iran to bypass newly reimposed US sanctions will be set up in Europewithin months, possibly in France or Germany. The clearing house, known as a special purpose vehicle (SPV), is seen as critical to reassuring Tehran that the EU genuinely wishes to reward Iran for signing […]

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The Guardian view on Iran sanctions: not upholding the rules, but overturning them

The imposition of sanctions on Iran is designed to curb its “outlaw behaviour”, the US says. Donald Trump said the Joint Comprehensive Plan of Action “cannot prevent an Iranian bomb” when he announced the US withdrawal from the treaty in May. This week his administration restored all sanctions lifted under the 2015 denuclearisation deal and added more (albeit with […]

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Turkey Warns US its Iran Sanctions Are ‘Dangerous’

Turkey has warned Washington against its new sanctions on Iran, saying isolating the Islamic Republic is “dangerous.” Turkish Foreign Minister Mevlut Cavusoglu said Tuesday. Washington this week imposed a second set of sanctions on Iran that aim to isolate the country’s banking sector and slash its oil exports. Eight countries including Turkey have received a US waiver […]

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Russia, Spain Slam US ‘Ultimatums’ on Iran

The foreign ministers of Spain and Russia on Tuesday hit out at US sanctions policy against Iran and ultimatums they say are being imposed by Donald Trump’s administration. President Trump in May abandoned a 2015 multi-nation deal with Iran aimed at reining in its nuclear program. The deal had been unanimously endorsed by a United Nations Security Council resolution, […]

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Iran open to talks with US if Trump changes approach to nuclear deal, top diplomat says

ANTALYA, Turkey – As Iranians braced for the full restoration of economic sanctions imposed Monday by the Trump administration, their government signaled it would be open to talking to the United States about a new nuclear arms accord if Washington changes its approach to discussing the agreement it abandoned this year. Foreign Minister Mohammad Javad Zarif, Iran’s top diplomat, […]

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US to Exempt China, India, Japan from Iran Oil Sanctions: Pompeo

The United States will exempt China, India and Japan from oil sanctions on Iran, Secretary of State Mike Pompeo said Monday, while vowing to be “relentless” in pressuring Tehran. Hours after sweeping sanctions were reimposed following the US withdrawal from a denuclearization deal, Pompeo said eight countries would be at least temporarily exempt from the ban on buying […]

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Upcoming Iran Sanctions: Likely Impact and Response from Iran

On November 5, the United States will reimpose an array of powerful sanctions on the most important economic institutions in Iran, including its central bank and national oil company. This is the result of President Trump’s decision in May to withdraw the United States from the Iran nuclear agreement and snap back U.S. sanctions that […]

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The Wrong Way to Punish Iran

During the war on terror, the United States quietly turned the world financial system into a hidden empire. The American government used the power of the dollar and its influence over obscure organizations such as the Swift financial messaging service to monitor what its adversaries and terrorists were doing and, in some cases, to cut entire states, […]

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Five reasons why Trump’s Iran sanctions will fail

The next round of economic sanctions on Iran, which will start going into effect on Nov.4, will mainly target the country’s oil and gas industries. These sanctions were eased after the 2015 signing of the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal, but are being phased back in following President Donald […]

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What Would Reagan Do on Iran? If Washington wants to pressure Tehran, the White House should stop alienating allies, empowering hard-liners, and harming regular Iranians.

Despite Saudi Arabia’s admission that the killing of journalist Jamal Khashoggi earlier this month was premeditated, the Trump administration appears determined to maintain the U.S. partnership with Saudi Arabia, the United Arab Emirates, and Israel to put unprecedented pressure on Iran. The next step in this master plan will be the Nov. 5 full reimposition […]

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Iran Sells Oil on Exchange in Bid to Counter Sanctions

Iran sold oil to private buyers through its energy exchange for the first time on Sunday, as part of its efforts to counter the imminent return of US sanctions. Only 280,000 barrels were sold out of one million offered, and went for USD 74.85 per barrel, more than USD 4 below the initial asking price. The identity […]

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Europe Support Against US ‘Rare Victory’ for Iran: Rouhani

President Hassan Rouhani said Saturday that the divisions between the US and Europe over renewed sanctions on Iran were a “rare historical victory” for the Islamic republic. “If this time last year, we had stated that America would stand against the great nation of Iran… and Europe would stand with Iran and against America, the overwhelming majority of us… […]

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Iran sets sights on Syrian reconstruction projects

Iran wants to boost its Syrian profile, and presence, by plugging into that country’s electrical sector needs. While fighting and military actions seem to be subsiding in the country, talk of reconstruction is surfacing as the Syrian government’s allies, namely Russia and Iran, seek to secure contracts to rebuild devastated sectors. Tehran is facing US sanctions aimed at undermining its financial capability. Yet Iran is one of the […]

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Pompeo’s Dangerous Delusions: What the Trump Administration’s Iran Policy Gets Wrong

In the November/December issue of Foreign Affairs, U.S. Secretary of State Mike Pompeo outlines President Donald Trump’s strategy for “confronting Iran.” Pompeo describes an Iranian regime hell-bent on dominating the Middle East, and he argues that Trump is determined to overturn the supposed inclination of past U.S. administrations—especially the Obama administration—to accommodate the mullahs in Tehran. In particular, Pompeo reiterates […]

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India, Iran, Afghanistan Hold First Trilateral on Chabahar Port Project

NEW DELHI: The first trilateral meeting between India, Afghanistan and Iran of the Coordination Council of the Chabahar Agreement took place Tuesday in Tehran. The three-nation Chabahar Agreement envisages a transport and transit corridor connecting Iran’s Chabahar Port with landlocked Afghanistan, which would allow Indian goods to be shipped not just to Afghanistan, but eventually […]

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Trump Can’t Put ‘Maximum Pressure’ on Tehran and Keep Gas Prices Low Something’s going to have to give, and it will probably be the sanctions

On Nov. 4, U.S. sanctions on Iranian oil exports will go back into force after they were suspended following the 2015 Iran nuclear deal. Less than a month before that deadline, Iran’s oil sales are already tanking. The United States would like to see them fall further. In July, U.S. Secretary of State Mike Pompeo […]

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Europeans Want Iran Bank Connected to World: French Senator

European nations are seeking to ensure at least one Iranian bank stays connected to the world after the US imposed new sanctions against the country, a French senator said in Tehran on Sunday. The United States pulled out of a landmark 2015 nuclear deal with Iran in May and has been reimposing punishing sanctions on the Islamic republic, targeting […]

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FATF Grants Key Extension for Iran Financial Reforms

The Financial Action Task Force has granted Iran until February to complete necessary reforms in the area of anti-money laundering and combating financing of terrorism. In a statement issued following the conclusion of the group’s plenary meeting in Paris, the FATF announced that it had “decided at its meeting this week to continue the suspension […]

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EU Enlists Asia in Anti-Trump Push on Trade and Climate

The European Union won Asian political support in campaigns aimed at countering U.S. President Donald Trump’s challenges to global trade rules, the fight against climate change and the international nuclear accord with Iran. In a final statement at an Asia-Europe summit in Brussels on Friday, the EU said the government leaders agreed on “the vital […]

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Khashoggi Disappearance May Disrupt Trump Administration’s Plans to Squeeze Iran

White House officials are worried that the apparent killing of the dissident journalist Jamal Khashoggi, and Saudi Arabia’s changing account of his fate, could derail a showdown with Iran and jeopardize plans to enlist Saudi help to avoid disrupting the oil market. Officials said the dilemma comes at a fraught moment for the Trump administration, which is expected […]

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Bankless Task: Can Europe Stay Connected to Iran?

As part of the effort to salvage the Iran nuclear deal, European governments have vowed to sustain their economic ties – not least their banking connections – with Iran. From 4 November, American sanctions targeting Iran’s banks will make it extremely difficult for European companies to engage in transactions with firms in the country. Many […]

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Iran Widens an Already Huge Rift Between Europe and U.S.

BRUSSELS — Of all the issues dividing Europe and the Trump administration, Iran has become the sharpest, with the Europeans actively working against United States policy, placing them in league with Russia, China and Iran. Since earlier this year, when it pulled out of the Iran nuclear deal that was a centerpiece of former President Barack Obama’s […]

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Iran’s Launch of ‘Look East’ 2.0

Tehran hosted national security and deputy national security advisers from China, India, Russia and Afghanistan on Sept. 26, in what was billed as the first Regional Security Dialogue. According to Keyvan Khosravi, spokesman for the Iranian Supreme National Security Council, the one-day meeting, initiated by Iran, primarily aimed at “finding joint measures for fighting terrorism and preventing its spread to Central Asia, […]

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Iran’s Oil Exports May Be More Resilient Than Headlines Suggest

Iran is resorting to “Houdini tricks” to sustain oil exports as US sanctions loom. New data suggests the magic might be working. With new sleights of hand including disappearing oil tankers, the use of floating storage, and ship-to-ship transfers, tracking Iranian exports is getting harder than ever, leading to divergent estimates from oil analysts. While […]

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Qatar Airways Commits to Iran Flights Despite Sanctions

US sanctions on Iran will not impact Qatar Airways’ flights to the Islamic republic, the airline’s boss Akbar al-Baker said on Monday. Speaking at a high-profile business conference in the Qatari capital Doha, Baker said services to Iran would continue despite a tightening economic and political squeeze on Iran by Washington. “Aviation is not a sanctioned industry, Qatar Airways […]

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India to Keep Buying Iranian Oil despite U.S. Sanctions

NEW DELHI, Oct 5 (Reuters) – India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating the world’s third-biggest oil importer will continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4. “Refiners have placed November nominations to lift 1.25 million tonnes (about […]

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U.S. Actively Considering Waivers on Iran Oil Sanctions

WASHINGTON (Reuters) – The Trump administration is actively considering waivers on sanctions it will reimpose next month for countries that are reducing their imports of Iranian oil, a U.S. government official said on Friday. The administration withdrew from a deal over Tehran’s nuclear program in May and is unilaterally reimposing sanctions on Iran’s crude oil […]

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UN Court Tells US to Ease Iran Sanctions in Blow for Trump

The UN’s top court ordered the United States on Wednesday to lift sanctions on humanitarian goods for Iran, in a stinging rebuke for the Trump administration which nonetheless made clear the decision would change nothing. Tehran declared victory after the International Court of Justice ruled that sanctions reimposed after President Donald Trump pulled out of a nuclear deal put Iranian […]

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EU Announces Legal Entity to Maintain Business with Iran

The European Union said Monday its members would set up a payment system to allow oil companies and businesses to continue trading with Iran in a bid to evade sanctions after the US withdrew from a nuclear agreement. Iran and the European Union announced their defiance towards US President Donald Trump’s administration after high-level talks at the United Nations among the remaining […]

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Macron Wants Iran to Sell Oil, Urges Dialogue

French President Emmanuel Macron said Tuesday that Iran should be allowed to keep selling oil and urged dialogue as he rejected a US push to isolate the clerical regime. Speaking to reporters after addressing the United Nations General Assembly, Macron said that Iranian sales would bring down the price of oil—a professed concern of US President Donald Trump. “It would be […]

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Rouhani Warns U.S. on Sanctions, Does Not Rule out Talks

NEW YORK (Reuters) – Iranian President Hassan Rouhani on Monday warned the United States against pursuing hostile policies toward Tehran, saying preventing Iran from exporting oil would be “very dangerous”, though he did not rule out talks between the two countries. In May, U.S. President Donald Trump pulled out of the 2015 international nuclear deal […]

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Iran Adhering to Nuclear Deal: British PM

Iran is adhering to its commitments under the Iran nuclear deal and the accord—repudiated by the United States—should stay in place, Britain’s prime minister said in an interview broadcast  on Sunday. “From what we see, we believe that it is doing that,” Theresa May told CBS. “We believe that that should stay in place. And others, […]

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Trump’s Blow to Iranian Oil Sparks Curious Price Divergence

The relationship between two major oil benchmarks is charting an unexpected course as U.S. sanctions take Iranian crude out of the market. As demand for alternative Middle Eastern supply increases, regional marker Dubai crude has reason to strengthen. Yet it’s weakening against London’s Brent — an oil grade with very different chemical characteristics that’s used […]

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Sinopec Persists With Iran Refinery Upgrade

China’s state-controlled Sinopec is pressing ahead with a USD 1.06bn upgrade project at Iran’s 400,000 b/d Abadan refinery, despite the imminent return of US sanctions on Iran’s energy sector. Sinopec is contracted to build a new 210,000 b/d crude distillation unit (CDU) to replace three distillation units with a combined 250,000 b/d that were built […]

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Iran-India Logistical Cooperation Set to Jump amid Scaled-Back Energy Ties

Amid reports of detailed talks between the United States and India to cut New Delhi’s oil imports from Iran, Indian refiners are reportedly moving to reduce their crude loadings from the Islamic Republic. Yet, India has also taken the step of allowing its state refiners to use Iranian tankers and shipping insurance ahead of the re-imposition of US sanctions targeting Iranian […]

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Macron to Meet Trump, Iran’s Rouhani at UN in New York: French Presidency

President Emmanuel Macron will separately meet his US and Iranian counterparts, Donald Trump and Hassan Rouhani, during the UN General Assembly in New York next week, the French presidency said Wednesday. Macron will meet Trump on Monday afternoon before having dinner with UN Secretary General Antonio Guterres. On Tuesday, the French President will address the assembly and hold talks with Rouhani, an Elysee […]

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US Still Ready to Talk to Iran: Official

US leaders remain ready to negotiate with their Iranian counterparts but Tehran is still refusing President Donald Trump’s overture to do so, a senior US official said Wednesday. Trump and Secretary of State Mike Pompeo “have all made clear that we are ready to negotiate and to have those discussions,” Brian Hook, the US special representative for Iran, told the […]

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Interview with Iranian Foreign Minister: ‘The Nuclear Agreement Is Not a Love Affair’

DER SPIEGEL: Mr. Foreign Minister, in May, United States President Donald Trump unilaterally withdrew from the Iran nuclear deal. In August, sanctions against your country were reimposed and since then, the Iranian economy has been struggling. Do you feel as though you have been left in the lurch by Europe? Zarif: The Europeans are facing a very fundamental […]

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US Sanctions on Iran Are ‘Unproductive’ and ‘Wrong’, Russia’s Energy Minister Says

U.S. sanctions on Iran’s oil industry are unproductive and there will be consequences to such a move, Russian Energy Minister Alexander Novak told CNBC. “Our position remains that this is unproductive, this is wrong,” Novak said when asked about the possible impact U.S. sanctions on Iran’s oil industry could have. “It is better to continue working […]

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Eyeing Reconstruction, Russia, Iran Take Centre Stage at Syria Expo

Companies from dozens of countries are showing their wares at the Damascus International Fair this week, but those from two in particular are getting special treatment—Russia and Iran. Firms from the top two wartime allies of Syria’s government are set up in an entirely separate building, hinting at the preferred status they hope to enjoy as the country tries […]

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Why Iran Prefers The Eastern Bloc Over The West

As the military phase of the Syrian conflict reaches its final stages, the leaders of Russia, Iran, and Turkey met in Tehran on September 9 and reiterated in a joint statement that a political solution to the Syrian conflict requires inclusive, free, and fair elections with the participation of all eligible Syrians under appropriate UN supervision. They […]

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Trump’s Policy on Iran ‘Dangerous and Ill-Advised,’ Kerry Says

Former Secretary of State John Kerry said Sunday that President Donald Trump’s decision to pull out of the Iran nuclear agreement he helped negotiate was “dangerous and ill-advised.” Speaking on CNN’s “Fareed Zakaria GPS,” Kerry called the deal the “single strongest, single most accountable, single most transparent nuclear agreement anywhere in the world,” saying Trump […]

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The Buck Stops Here: Europe Seeks Alternative to U.S.-Dominated Financial System. Germany and France Complain That the U.S. Is Abusing Sanctions Power to Bully Even Its Allies.

In a sign of how serious the breach between Europe and the United States is during the Trump era, senior officials in France and Germany are increasingly planning ways to sidestep U.S. financial dominance and the global sanctions power that goes with it. German Foreign Minister Heiko Maas late last month called for Europe to achieve financial […]

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Can Europe Defend Itself And Iran From U.S. Sanctions?

n an op-ed published in the German newspaper Handelsblatt, German Foreign Minister Heiko Maas declared that the “the US and Europe have been drifting apart for years.” Nowhere is this clearer than in the disagreement between the United States and Europe over the fate of the Iran nuclear deal. When President Trump withdrew from the Joint Comprehensive Plan […]

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How Europe Plans to Skirt Trump’s Sanctions and Keep Doing Business with Iran

WASHINGTON — America’s allies in Europe are plotting ways to bypass President Donald Trump’s sanctions on Iran as they work to keep the nuclear deal alive without the United States. With a second round of U.S. sanctions set to take effect in November, European officials are working at cross-purposes with Trump’s “maximum pressure” campaign as they try to […]

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Making Europe Financially Independent, One Transaction at a Time

Germany’s foreign minister wants Europe to create new financial infrastructures to free it from US domination. He’s suggested a new system for banking transactions. But what exactly would a European SWIFT system look like? Last week, Germany’s foreign minister made headlines around the world when he suggested that Europe should be less reliant on the […]

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Iran Still Abiding By Nuclear Deal Terms: IAEA

Iran is sticking to the terms of its nuclear deal with world powers, a UN atomic watchdog report showed Thursday, despite ongoing uncertainty over its future. The report from the International Atomic Energy Agency showed that Iran was still complying with the key parameters of the Joint Comprehensive Plan of Action (JCPOA), agreed in 2015 […]

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EU Looking to Sidestep U.S. Sanctions with Payments System Plan

Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks. The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President […]

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Iran Urges UN Court to Halt ‘Economic Strangulation’ by US

Iran on Monday demanded the UN’s top court suspend US nuclear-linked sanctions against Tehran, accusing Washington of plotting its “economic strangulation”. The Islamic Republic launched a suit at the International Court of Justice in The Hague over US President Donald Trump’s decision to reimpose the sanctions that had been lifted in a 2015 accord. Iran […]

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Washington Criticizes European Aid Package for Iran

A European Union aid plan for Iran sends “the wrong message at the wrong time” to the government in Tehran, the US State Department said Friday. The USD 20.7 million EU assistance package “perpetuates the regime’s ability to neglect the needs of its people and stifles meaningful policy changes,” read a statement Friday signed by US […]

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Europe’s SWIFT Problem

German foreign minister Heiko Maas recently penned an article in which he said that “it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system.” So what exactly is Maas’s quibble with SWIFT, the Society for Worldwide Interbank Financial Telecommunication? […]

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How ‘America First’ Could Jump Start Iran-Pakistan Pipeline Project

Iran is cheerful with Imran Khan in office next door. Even before his inauguration as Pakistan’s new prime minister, President Hassan Rouhani picked up the phone to congratulate Khan and invite him to Tehran. There are two main reasons, among others, for Iran’s cheerfulness. As discussed in an Aug. 4 conversation between Iran’s ambassador to Pakistan, Mehdi Honardoost, and the Pakistani […]

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Four Questions on Iran’s Legal Challenge to US Sanctions

Iran’s legal challenge against renewed sanctions by the United States goes before the UN’s International Court of Justice on Monday. Here are four key questions regarding the case: What is the case about? Iran’s attempt to block the reinstatement of sanctions, announced by US President Donald Trump earlier this year, is the latest in a […]

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Germany Calls for End to US Hegemony in Global Payments System

After the Trump administration’s decision unilaterally to exit the 2015 Iran nuclear deal, Europe’s anger turned quickly to resignation, as companies moved to sever ties with Tehran lest they suffer retaliation from Washington. Germany is now calling for a reset in the nature of trans-Atlantic relations that will give Europe more autonomy to create foreign […]

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EU Agrees 18 Million Euro Development Aid for Iran

BRUSSELS (Reuters) – The European Union agreed 18 million euros ($20.6 mln) in aid for Iran on Thursday, including for the private sector, to help offset the impact of U.S. sanctions and salvage a 2015 deal that saw Tehran limit its nuclear ambitions. The announcement is part of the bloc’s high-profile efforts to support the […]

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Caspian Sea Convention Moves Iran Closer to Northern Neighbors

The Kazakh coastal city of Aktau hosted Aug. 12 the fifth summit of the five Caspian littoral states — Iran, Russia, Kazakhstan, Azerbaijan and Turkmenistan — on the legal status of the Caspian Sea. The presidents of the five countries signed a landmark convention on the legal status of the Caspian, ending 21 years of disagreements over how to coordinate their […]

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Iran: Britain Will Help Redesign Reactor After US Pullout

TEHRAN, Iran — Iran says Britain has stepped in to help it redesign a reactor following the U.S. withdrawal from Tehran’s nuclear agreement with world powers. Under the agreement, experts from the United States and China were to help Iran redesign the Arak heavy water nuclear reactor to limit the amount of plutonium it produces […]

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China Defies U.S. Pressure as EU Parts Ways with Iranian Oil

BEIJING/SINGAPORE (Reuters) – China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of reprisals from Washington. The United States is trying to halt Iranian oil exports in an […]

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Europe Must ‘Pay Price’ to Save Nuclear Deal: Iran FM

Iran’s Foreign Minister Mohammad Javad Zarif said Sunday that Europe had not yet shown it was willing to “pay the price” of defying Washington in order to save the nuclear deal. Zarif said European governments had put forward proposals to maintain oil and banking ties with Iran after the second phase of US sanctions return […]

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How We Got the Iran Deal and Why We’ll Miss It: Wendy Sherman

In the international negotiations that resulted in the 2015 agreement to limit Iran’s nuclear activities, I led the team of American diplomats representing the United States. During the talks, my Iranian counterparts would occasionally ask how they could be assured that any deal we struck would be durable. Most Republicans opposed it, and looking at the […]

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India Mulls 50% Iran Oil Cut to Win U.S. Waiver

India, the second biggest crude customer for Iran, may cut its imports from the Islamic republic by half to secure a waiver from the U.S. to continue with shipments, people familiar with the matter said. Officials from the U.S. had discussed the issue of a conditional waiver on sanctions in talks last month in New Delhi, the people said, […]

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Trump’s Dangerous Obsession with Iran

he Trump administration has no coherent Iran policy. In May, U.S. President Donald Trump unilaterally withdrew the United States from the Joint Comprehensive Plan of Action (JCPOA)—the Iran nuclear deal—even though Iran was not in violation of it. Other than Trump’s uninformed and empty assertion that it was “the worst deal ever,” his pretext for the withdrawal […]

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Iran Offers Discount Oil to Asia

Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The “informed source” in Iran’s oil ministry did not give details of the discount, but sought to downplay the move as common industry practice. “Discount is part […]

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U.S.-Iran Sanctions Give China Lead in World’s Top Gas Field

hina National Petroleum Corp. is expected to take the lead on a $5 billion project to develop Iran’s share of the world’s biggest gas deposit, taking over from France’s Total SA, which halted operations after U.S. President Donald Trump reimposed sanctions on the Islamic Republic. State-owned CNPC, which joined a consortium with Total and Iran’s Petropars Ltd. in 2016 […]

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Iran Oil Sanctions Will Hurt More Than You Think

The first U.S. sanctions have been reimposed on Iran with little sign of either side softening its position. Curbs on oil exports will follow in early November and the effect will be bigger and swifter than last time around. Oil forecasters don’t seem to have grasped that yet. There’s no doubt that President Donald Trump will […]

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Germany Says Trump’s Tariffs, Sanctions Destroy Jobs and Growth

BERLIN (Reuters) – German Economy Minister Peter Altmaier has sharply criticized U.S. President Donald Trump’s tariffs and sanctions policies, saying such measures were destroying jobs and growth and that Europe would not bow to U.S. pressure regarding Iran. The United States has triggered a bitter tit-for-tat trade dispute with import tariffs meant to protect American […]

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EU ‘Deeply’ Regrets Return of US Sanctions on Iran

The EU said Monday it deeply regretted the US reimposition of sanctions on Iran after President Donald Trump pulled out of the 2015 nuclear pact, and vowed immediate steps to protect European companies. The statement by EU diplomatic chief Federica Mogherini and the foreign ministers of Britain, France and Germany said it would also work […]

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Why One Company in France Won’t Say Bye to Iran

The US sanctions on Iran are forcing many European companies to rethink their investment plans. But some small businesses are choosing to deal with Iranians, rather than Americans. Al Jazeera’s David Chater went to Chateauroux in France, where one company is doing big business with Iran.

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China Set to Fill Vacuum Left by French Carmakers Exiting Iran

As Iran’s auto industry is grappling with a multifaceted crisis, there are signs that China’s nascent carmakers may step in to become part of the solution. The US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) and the impending reimposition of sanctions have not only caused a currency crisis in Iran but also led French […]

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China Rejects U.S. Request to Cut Iran Oil Imports

The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord. Beijing has, however, agreed not to ramp up purchases of Iranian crude, according […]

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US Sanctions Policy Risks Alienating India

When the U.S. slaps a nation with punitive sanctions, it tries to prevent not only American companies from doing business with the target country but also those of other states. Inevitably, these extraterritorial effects hit some countries much harder than others — as India has just found to its cost. Even though New Delhi has […]

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Iran’s Rial Gains After Trump Dials Back Escalated Rhetoric

Iran’s rial rebounded from a series of record lows on Tuesday, after President Donald Trump said he would talk to Iran without preconditions and Iranian officials appeared not to immediately dismiss the idea. The dollar was trading at around 104,000 rials on the black market in late afternoon, from around 117,000 rials the day before, […]

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Why Would Iran Want to Talk to Trump Anyway?

One would think that Tehran might welcome President Donald Trump’s recent announcement that he is willing to meet with his Iranian counterparts “any time they want” with “no preconditions.” After all, Trump’s offer could be interpreted both as a vindication of Tehran’s refusal to blink first, and as a timely relief for an embattled Iranian economy. Only […]

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Why Is Europe Underplaying Its Hand on Iran?

Following President Donald Trump’s May 8 decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA), the United States has embarked on a “maximum pressure” campaign against Iran. The campaign involves, among other things, the reinstatement of all nuclear-related sanctions, revoking all licenses that allow for minor exemptions to those sanctions and applying additional economic […]

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Encouraged by Government, Iranian Entrepreneurs Dream of ‘Smart Cities’

“Smart Cities” integrate multiple information and communications technology (ICT) and internet of things (IOT) solutions to create more successful and sustainable urban environments. There is growing interest in smart city technologies as governments around the world struggle to manage population growth and the resource consumption of major cities. Smart city transformations can improve quality of […]

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Iran Versus US Battle to Hit UN’s Top Court in August

The UN’s top court said Thursday it will hold hearings next month in a bitter battle between Iran and the United States, after President Donald Trump reimposed sanctions on the Islamic  republic. “The International Court of Justice (ICJ), the principal judicial organ of the United Nations, will hold public hearings from Monday 27 to Thursday […]

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EU Struggles to Counter US Sanctions on Iran: Report

TEHRAN (ECOIDEAL) – European efforts to protect businesses investing in Iran from US sanctions risk leaving executives with the tough choice of whether to obey EU or American rules. The EU is finalizing its plans to mitigate the punitive measures as the Trump administration prepares to impose a new wave of sanctions next month and […]

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Memo to Trump: Iran Isn’t North Korea

President Donald Trump’s ALL-CAPS Twitter threat against Iran—“CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED”—feels like a cut-and-paste job from his approach to North Korea. Apply sanctions, make irresponsible suggestion of Armageddon, see what happens. The president is like an arsonist who puts out his own fire. The desultory results on North […]

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Will China Undermine Trump’s Iran Strategy?

In May, President Donald Trump announced that he was pulling the United States out of the Iran nuclear deal. A few weeks later, U.S. Secretary of State Mike Pompeo outlined the administration’s aggressive new Iran policy, which was designed to prevent the country’s emergence from isolation. This strategy, the Trump administration believes, will force Iran to return to […]

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ATR CEO ‘Reasonably Optimistic’ about Iran Resolution

ATR CEO Christian Scherer is “reasonably optimistic” the turboprop manufacturer can resolve the issues around new Iran sanctions and its pending deliveries to Iran Air. The Iranian national carrier placed an order for 20 ATR 72-600s, eight of which had been delivered by June when the Office of Foreign Assets Control (OFAC) export license was revoked. According to Scherer, conversations with […]

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Iran Lodges Complaint Against US Over Renewed Sanctions

Iran has lodged a complaint with the International Court of Justice against the United States’ reimposition of sanctions, the foreign ministry said on Tuesday. The complaint was registered the previous day, spokesman Bahram Ghasemi said on the ministry’s website. The goal is “to hold US accountable for its unlawful re-imposition of unilateral sanctions,” Foreign Minister […]

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European Governments Explore Financial Channels for Iran

The move is the first concrete sign that Europe could deliver on its promise to take steps to sustain the Iranian nuclear deal, setting European governments squarely against the Trump administration’s Iran sanctions policy aimed at isolating Tehran economically. Following the U.S. withdrawal from the deal in May, Iran has said it would stop complying […]

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Iran’s Khamenei Seeks Better Ties with The World, Apart from US

Iran’s supreme leader Ali Khamenei has called for better ties with the world—though not with the United States, according his official website on Monday. Khamenei met President Hassan Rouhani and his cabinet on Sunday and spoke of the “necessity of developing diplomacy and relations with foreign countries,” according to a transcript published in English. “Except […]

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EU Protects Firms as It Fights US Bid to Isolate Iran

EU countries on Monday gave European firms legal cover to operate in Iran despite the US pullout from the nuclear deal, after a report that the Trump administration has rejected calls by Brussels for an exemption from sanctions. The bloc’s foreign policy chief Federica Mogherini said the 28 countries were doing all they could to save […]

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Don’t Let Trump Go to War With Iran!

The decision of the United States to wage war against Iraq in 2003 was one of the worst mistakes our country has ever made. Was Saddam Hussein a brutal dictator? Yes, but he didn’t have weapons of mass destruction, and toppling his regime had profound consequences—bringing the deaths of thousands of Americans and hundreds of […]

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US Demands on Iranian Oil Pose Dilemma for Japan

TOKYO — With the U.S. considering making exceptions to its demand that countries stop importing Iranian oil, Japan is looking to secure its oil supply and pursue business opportunities in the Middle Eastern country without raising red flags in Washington. U.S. Secretary of State Mike Pompeo hinted at the waivers during his visit to Abu Dhabi on […]

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If Trump’s Problem Is OPEC, His Solution Is Iran

President Donald Trump has once again taken to Twitter to slam OPEC for driving up oil prices. The group is a useful scapegoat on which to pin the blame for rising gasoline prices at home, but getting it to pump more crude won’t bring them down for long. The way to really lower prices is for […]

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Iran Shows New Savvy in Defining Outcome of Key Nuclear Deal Meeting

Following two months of rising uncertainty after President Trump decided to withdraw from the nuclear deal despite Iran’s continued compliance with its commitments, the remaining parties to the Joint Comprehensive Plan of Action (JCPOA) assembled in Vienna on Friday. The meeting of foreign minister was convened at Iran’s request. Iranian expectations of the meeting centered […]

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Why New US Sanctions on Iran Won’t Work — and Might Backfire

The Trump administration released more details this week of how it plans to slap sanctions back on Iran. It is an ambitious and aggressive policy to change Iran’s behavior, but it is premised on faulty assumptions, and ultimately may be counterproductive. Two months ago, Secretary of State Mike Pompeo outlined 12 demands of Iran. The list reads more […]

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China Looks to Buck Iranian Oil Sanctions

China is unlikely to fully heed President Trump’s caveat to stop buying oil from Iran, according to FGE. If the planned U.S. sanctions prove successful to cut Iran’s oil exports to zero by Nov. 4, that will put as much as 2.3 million barrels a day of crude from the Persian Gulf state at risk, the consultant said. The […]

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State Department Leaves Door Open to Iran Oil Import Exemptions

The U.S. will grant waivers “on a case-by-case basis” so countries can buy Iranian oil after American sanctions are reimposed, a State Department official said, softening the Trump administration’s stance as it seeks to isolate the Islamic Republic after quitting the Iran nuclear deal. Brian Hook, the State Department’s director of policy planning, said three […]

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Iran Vows to Foil US Bid to Block its Oil Exports

Iran vowed Sunday to thwart US efforts to block its oil exports and warned rival OPEC producer Saudi Arabia it would never take Tehran’s “place” on the international oil market. “We will surely do something to thwart the US rallying cry that Iranian oil (exports) must be stemmed,” First Vice President Eshagh Jahangiri said in […]

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Iran Urges Foreign Firms to Resist US Sanction ‘Threats’

Tehran on Saturday urged foreign firms working in Iran to resist US “threats” of sanctions, adding it was in talks with French car makers about staying on in the country. “All (foreign) companies working in Iran should not be intimidated by US threats and should continue their activities in Iran,” Industry Minister Mohammad Shariatmadari told […]

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Europeans Beat Back Americans as FATF Gives Iran More Time on Financial Reforms

At its plenary meeting in Paris, the Financial Action Task Force (FATF) opted “to continue the suspension of countermeasures” related to Iran’s inclusion in the so-called “blacklist” of countries with deficiencies in anti-money laundering (AML) and combating financing of terrorism (CFT) standards.  The suspension will be in place until October 2018 and in this period […]

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India may Ignore US Demand to Halt Iran Oil Imports

India said Wednesday it did not recognize sanctions the United States has threatened to impose on countries that continue to buy Iranian oil after November 4. “India does not recognize unilateral sanctions, but only sanctions by the United Nations,” Sunjay Sudhir, joint secretary for international cooperation at India’s petroleum ministry, told CNNMoney when asked whether […]

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EU-OFAC: A New Mechanism to Help Salvage the Iran Deal

The US decision to withdraw unilaterally from the Iran nuclear deal and pursue a “maximum pressure” campaign against Tehran is pushing Europe to find creative new ways to preserve economic relations with Iran and thus salvage the agreement. One idea, floated by the French Economy Minister Bruno Le Maire, is the establishment of a European version […]

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Iran Preps for Sanctions by Expanding Major Port Project

Providing landlocked Central Asia with shipping access through Iran’s southeastern Chabahar port has been a hot topic since the fall of the Soviet Union. With China’s One Belt One Road initiative in recent years and investment by Central Asian countries in the new transit routes, Iran faces more challenges than ever to utilize the potential of Chabahar. Iran’s development strategy for the […]

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Mohammad Javad Zarif: Iran Sees a Broken U.S. Foreign Policy

Following the Trans-Pacific Partnership and the Paris Climate Accord, the Joint Comprehensive Plan of Action (JCPOA) is the third multilateral agreement that the current United States administration has withdrawn from. The administration has also put in jeopardy other multilateral arrangements such as NAFTA, the global trade system, and parts of the United Nations system, thus […]

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A German ‘Iran Bank’ Could Save the Nuclear Deal

Since US President Donald Trump pulled out of the nuclear agreement with Iran, formally known as the JCPOA, the EU has been looking for ideas to prevent the worst: the exit of Iran from its obligations under the deal, including a nuclear “breakout.” The best way to prevent that is to keep private investment flowing […]

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India May Seek Exemptions from US to Buy Iranian Oil

NEW DELHI: India will seek US exemptions to buy Iranian oil and work towards setting up an alternative payment mechanism to protect its trade with the Islamic Republic in the wake of US sanctions against Tehran, according to officials familiar with the matter. Indian policymakers had initially believed that the sanctions may not matter to […]

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Iran Expects OPEC to Stick to Supply Limits

OPEC nation Iran said it expects the group to stick with its pact to restrain oil supply as world markets don’t need more crude. The Organization of Petroleum Exporting Countries and its partners will meet next week and debate whether to restore output halted last year. Saudi Arabia and Russia have said it’s time to […]

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Indian Oil Imports from Iran Surge to Highest since 2016

NEW DELHI, June 12 (Reuters) – India’s oil imports from Iran surged to about 705,000 barrels per day (bpd) in May, their highest level since October 2016, according to data from shipping and industry sources, despite the threats of fresh U.S. sanctions. From June India’s oil imports from Iran could drop because at least two […]

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Europe, Iran, and Economic Sovereignty: A New Banking Architecture in Response to US Sanctions

Following President Trump’s announcement of a U.S. withdrawal from the 2015 international nuclear agreement with Iran, the United States is set to pursue a “maximum pressure” campaign against Tehran whereby it reintroduces stringent economic and financial sanctions. From the Iranian perspective, the return of U.S. sanctions means a lost opportunity for growth and international engagement, […]

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Iran Enrichment Plan Not in Breach of Nuclear Deal

The EU said Tuesday that a “first assessment” indicated that Iran’s announcement that it has launched a plan to boost uranium enrichment capacity did not breach its commitments under the beleaguered 2015 nuclear deal. Iran has notified the International Atomic Energy Agency that it plans to open a centre for producing new centrifuges, the Islamic […]

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India BPCL Seeks Extra Iran Oil amid Sanctions Threat

NEW DELHI, June 1 (Reuters) – Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent U.S. sanctions. The move by BPCL indicates that refiners will try to frontload their purchases […]

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Why Trump’s Iran Sanctions Could Backfire on US Goals to Stabilize Afghanistan’s Economy

Afghanistan is at risk of become an unintended victim of the Donald Trump administration’s sweeping sanctions against Tehran, announced as part of the U.S. decision to withdraw from the 2015 Iran nuclear deal in early May. A major port complex is being developed on Iran’s southern coast that is set to provide a transport corridor to Afghanistan, granting the landlocked country new […]

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Iran Still Implementing Terms of 2015 Nuclear Deal: IAEA

Iran is still implementing the 2015 accord over its nuclear program, according to a report by the UN’s nuclear watchdog. The International Atomic Energy Agency report, seen by AFP, shows that Iran is abiding by the deal’s key restrictions on its nuclear facilities. The latest assessment from the IAEA comes weeks after US President Donald […]

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Iran’s Supreme Leader Gives Europe List of Demands to Salvage Nuclear Deal

ran’s supreme leader, Ayatollah Ali Khamenei, the country’s highest authority, delivered his most significant speech regarding the United States’ withdrawal from the nuclear deal between Iran and the five members of the UN Security Council plus Germany. In the May 23 speech, delivered two days after US Secretary of State Mike Pompeo made 12 demands of Iran, Khamenei presented his own […]

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US Policy on Iran Puts Region in ‘Further Danger’: France

French Foreign Minister Jean-Yves Le Drian said Wednesday that the United States risks further destabilizing the Middle East after Washington warned Iran faced the “strongest sanctions in history.” “The sanctions to be launched against Iran will not foster dialogue. On the contrary, they will boost the importance and power of Iran’s conservatives and weaken president […]

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What It Will Take to Keep the Iran Deal Alive

The U.S. withdrawal from the nuclear agreement between Iran and the EU/E3+3 constitutes a strong rejection of multilateralism by the Trump administration and leaves the remaining parties of the agreement with the challenge to safeguard its survival. Europe has been ascribed a leading role in this quest, as it has arguably a much greater stake […]

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Austria’s OMV Stands by Iran Project – Upstream Chief

Austrian energy group OMV said on Tuesday it had not halted its planned Iranian energy projects despite the U.S. withdrawal from an international nuclear agreement, but it had made no investments there yet. The group was monitoring political developments in the United States and the European Union very closely, said upstream chief Johann Pleininger at […]

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‘No Alternative’ to Iran Deal, EU’s Mogherini Tells U.S.

The EU’s foreign policy chief warned Monday there was “no alternative” to the Iran nuclear deal, after US Secretary of State Mike Pompeo vowed unprecedented sanctions against Tehran following Washington’s withdrawal from the pact. Pompeo—a longtime Iran hawk and fierce opponent of the 2015 agreement earlier Monday outlined an aggressive series of “painful” measures designed […]

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Iran Says China Group Ready to Replace Total on Gas Deal

Chinese state-owned oil company CNPC will replace Total on a major gas field project in Iran if the French energy giant pulls out over renewed US sanctions against Tehran, Iran’s oil minister has said. “Total has said that if it doesn’t get an exemption from the United States to continue its work, it will begin […]

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Russia-Led Trade Bloc Seeks Free Trade Area With Iran

The Russia-led Eurasian Economic Union trade bloc signed an interim trade deal with Iran on Thursday and plans to negotiate a free trade zone, said Kazakhstan which hosted the talks. The agreement signed in the Kazakh capital Astana comes as the United States is snapping economic sanctions on Tehran back into place and warned companies […]

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Total CEO Pouyanné: Transatlantic Partners Risk Gifting Iran to ‘China and Russia’

Speaking on Thursday at the Center for Strategic and International Studies, a Washington D.C. think tank, Total CEO Patrick Pouyanné faced several questions about his company’s recently announced decision to wind down operations in Iran following the reapplication of secondary sanctions by the Trump administration. With his trademark candor, Pouyanné left no doubt that Total was obligated to […]

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Iran Plans First Foreign Oil Pact Since Trump Left Nuclear Deal

Iran plans to sign a $1.16 billion agreement with the U.K.’s Pergas Resources International Ltd. to work on a southern oil field, marking the Persian Gulf nation’s first energy venture with a foreign company since U.S. President Donald Trump ripped up the Iran nuclear deal. London-based Pergas and state-run National Iranian South Oil Co. will […]

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How Europe Can Block Trump

President Donald Trump’s hard exit from the 2015 Iran nuclear deal was followed by a hard message for Europe: The United States will use sanctions to coerce its allies to shut their economic doors to Iran. Trump not only chose to violate a multilateral agreement, but his administration now aims to implode it by obstructing […]

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EU’s Tusk Hits Out at Trump’s “Capricious Assertiveness”

EU chief Donald Tusk hit out at US President Donald Trump on Wednesday, accusing Washington of “capricious assertiveness” in abandoning the Iran nuclear deal and imposing trade tariffs on Europe. “Looking at the latest decisions of President Trump, someone could even think with friends like that who needs enemies,” Tusk told reporters in the Bulgarian capital […]

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Leaving the Iran Nuclear Deal Will Have Unintended Consequences

President Donald Trump’s decision to withdraw the United States from the Iran nuclear deal and reinstate all U.S. sanctions won’t deliver punishing economic pressure capable of forcing Iran to submit to Washington’s policy demands. Along with diplomatic furor and a blow to nuclear arms control, the move also comes with damning unintended economic consequences for […]

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EU Launches Economic Plan to Save Iran Nuclear Deal

The European Union on Tuesday launched work on a nine-point economic plan to keep the Iran nuclear deal alive after the abrupt withdrawal of the United States. Europe is scrambling to come up with ways to persuade Iran to stick with the landmark 2015 agreement despite US President Donald Trump ditching it a week ago. […]

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Iran FM Heads to Brussels on Final Leg of Nuclear Deal Saving Tour

Iran’s foreign minister is due to land in Brussels later Tuesday on the final leg of a global tour rallying diplomatic support for the country’s nuclear deal after the Trump administration’s abrupt withdrawal. Mohammad Javad Zarif will meet with his counterparts from Britain, France and Germany—the three European nations involved in the landmark deal who […]

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How Iran and Europe Can Save the Nuclear Deal

US President Donald Trump’s unilateral withdrawal from the Joint Comprehensive Plan of Action (JCPOA) has created an urgency for all other deal signatories to work toward saving the accord. As international companies face a new dynamic and risk profile, innovative steps will need to be taken to sustain the deal, especially in response to Iranian […]

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Europe Steps Up Bid to Salvage Iran Nuclear Deal

European powers alarmed by Donald Trump’s withdrawal from the Iran nuclear accord set out this week on an urgent search for ways to hold the deal together and avoid a further escalation of violence in the Middle East. With Chancellor Angela Merkel warning that faith in the international order is at stake, Germany, France and […]

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Russian Companies to Benefit from US Iran Withdrawal

While Russia has condemned Washington for its withdrawal from the Iran nuclear deal, Moscow remains less exposed to the economic consequences of US sanctions than Europe and its companies could even benefit from the move. “The deal and the lifting of sanctions in 2015 marked the return of European business to Iran. But it’s unlikely […]

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French FM Slams ‘Unacceptable’ US Sanctions on Iran

France’s foreign minister on Thursday condemned the United States for reimposing sanctions against foreign companies trading with Iran, labeling the move “unacceptable” in comments that expose the deepening rift between Washington and its European allies on the issue. On Tuesday, US President Donald Trump announced he was pulling out of a landmark deal curbing Iran’s […]

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Iran Says U.S. Exit from Deal Will Not Impact Its Oil

ANKARA (Reuters) – Iranian Oil Minister Bijan Zanganeh said on Thursday that U.S. President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports. “Trump’s decision will not have any impact on our oil export … that era is history now,” he told state television. Trump announced a U.S. withdrawal […]

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Iran’s Housing Sector Keeps Building

In Iran, the housing sector — which accounts for a hefty 35% of all household expenses — has since 2011 been in the grip of its worst recession in recent history. Indeed, it was the only sector not to rebound after sanctions were lifted with the implementation of the Joint Comprehensive Plan of Action (JCPOA) in January 2016. But […]

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After Trump’s Iran Decision: Time for Europe to Step Up

Despite months of E3-US negotiations to avert an unnecessary crisis over the Iran nuclear deal, President Trump has declared a hard exit from the nuclear agreement. The decision demonstrates that the US has decided that confrontation with Iran is both necessary and inevitable, regardless of what European allies think. The US administration looks set to […]

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EU to Seek Exemptions for European Companies from Iran Sanctions

European Union officials will seek exemptions for European companies from sanctions the U.S. plans to impose on Iran, The Financial Times reported on Wednesday. The EU in its bid to save the 2015 nuclear accord with Iran and six other countries will have to convince European companies including French oil producer Total SA FP, -0.21% and defense contractor Airbus SE AIR, -1.52% to […]

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Iran Says to Discuss Response to Trump with Other Parties

Iran said it will hold talks with signatories to a nuclear deal after US President Donald Trump’s decision Tuesday to withdraw from the accord, which it branded “psychological warfare.” President Hassan Rouhani also said Iran could resume uranium enrichment “without limit” in response to Trump’s announcement. He said he would discuss Iran’s response with the […]

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EU Fights to Keep Iran Nuclear Deal Alive After Trump’s Exit

Donald Trump didn’t kill the Iran nuclear deal. He just shrank its membership by one. That was the line taken by the European Union immediately after the U.S. president announced his withdrawal from the 2015 accord. Germany, France and the U.K. all said they’ll stick to their commitments. Iran’s Supreme Leader Ayatollah Ali Khamenei said […]

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Mark Mobius Quits Retirement to Set Up New Firm

Turns out Mark Mobius isn’t one for retirement. Less than four months after leaving Franklin Templeton Investments, the 81-year-old has set up a new asset management firm to invest in emerging and frontier markets. Mobius Capital Partners LLP has yet to line up outside investors and wants to raise about $1 billion within two to […]

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Netanyahu’s Iran Nuclear Claims Fail to Convince Deal Proponents

Israel began sharing an intelligence trove on Iran’s alleged nuclear ambitions Tuesday, but Prime Minister Benjamin Netanyahu faced accusations his televised unveiling of it lacked evidence a 2015 accord had been violated. The IAEA, the United Nations atomic watchdog, said it would evaluate any new relevant information, but cited its assessment from three years ago […]

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China Reiterates Call to Continue Upholding Iran Nuclear Deal

BEIJING (Reuters) – China’s foreign ministry on Wednesday reiterated that all sides should continue to uphold the Iran nuclear agreement, and that the International Atomic Energy Agency (IAEA) has said many times Iran is in compliance with the deal. Speaking at a daily news briefing, ministry spokeswoman Hua Chunying said China had noted reports about […]

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Commentary: How bullying Iran could backfire for Trump

Benjamin Netanyahu has accused Iran of lying “big time” about its nuclear program. In a theatrical announcement Monday, the Israeli prime minister presented files and CDs that he claimed show Tehran hid secret nuclear plans after signing the multinational 2015 Joint Comprehensive Plan of Action (JCPOA) agreement. In response to Netanyahu, Iranian Foreign Minister Javad […]

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Europe Backs Iran Deal as ‘Best Way’ to Counter Nuclear Threat

The leaders of Britain, France and Germany have reiterated their commitment to the Iran nuclear deal “as the best way of neutralising the threat of a nuclear-armed Iran”, Downing Street said Sunday. Prime Minister Theresa May talked by phone with French President Emmanuel Macron and German Chancellor Angela Merkel on Saturday and Sunday when they […]

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Merkel Heads for Tough Trump Talks on Trade, Iran Nuclear Deal

German Chancellor Angela Merkel visits US President Donald Trump on Friday for a last-ditch European effort to prevent a transatlantic trade war and save the Iran nuclear deal. Merkel’s working trip is expected to be far more business-like than this week’s pomp-filled state visit by French President Emmanuel Macron, who has built a warm rapport […]

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Iran Deal May Survive An Initial Blow from Trump

he Iran nuclear deal may have more time than you think. French President Emmanuel Macron and German Chancellor Angela Merkel are both visiting Washington this week in part to persuade President Donald Trump not to withdraw from the agreement next month. Most discussions about the deal have focused on May 12 as a make-or-break deadline […]

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Iran on Track to Launch Aluminum Smelter in 2019, Be Self-Sufficient

LONDON (Reuters) – Iran is on track to launch a new aluminum smelter early next year that would boost the country’s output by 70 percent, making it self-sufficient in the metal by taking advantage of rich natural gas reserves. Construction is underway of the South Aluminium Corp (Salco) smelter, due to produce 300,000 tonnes per […]

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Macron and Merkel Must Flex Muscles to Save Iran Nuclear Deal

The fate of the international nuclear agreement with Iran, known as the Joint Comprehensive Plan of Action (JCPOA), looks increasingly uncertain in light of repeated attacks from U.S. President Donald Trump, who has threatened to walk out of the deal unless Congress and European counterparts agree to “fix it.” The recent appointments of Mike Pompeo […]

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Can Macron’s White House Visit Save the Iran Deal?

French President Emmanuel Macron seems, as much as any world leader, to have developed some kind of rapport with his American counterpart Donald Trump. But will their apparent bond prove productive as European capitals struggle to save the Iran nuclear deal from Trump’s impulsive wrath? The idea will be tested Monday when the young French […]

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If Trump Revives Iran Sanctions, They’ll Take Time to Come Back

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 […]

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Iran’s Energy Sector Takes Stock After Year of Ambivalent Results

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 […]

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Iran, Turkey Start Using Nat’l Currencies in Trade

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 […]

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Ensuring Continuity for Iranian-Foreign JV Projects

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 […]

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No New EU Sanctions on Iran—For Now

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 […]

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Iran raises minimum wage in concession to workers

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 […]

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Russia’s Lower House to Develop Business Ties with Iran through Parliamentary Dimension

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 […]

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New IMF Report Calls for Iran to Access International Bond Markets

A new report from the International Monetary Fund (IMF) examining “selected issues” in Iran’s economy, including the expansion of non-oil exports and the role of women in the labor force, places special emphasis on the importance for Iran to develop the government securities market, which is a priority under the Sixth National Development Plan (NDP). […]

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Iranian DRI, semi-finished steel output surges

Iran’s direct-reduced iron (DRI) production rose by 24% year on year to 24 million mt over the first 11 months of the current Iranian year (to February 19), according to the Iranian Steel Producers’ Association. Some 19.8 million mt of DRI was consumed by domestic steel producers in the same period, 4% lower year on […]

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U.S. Experts Say Why Trump Should Support Iran Deal

The Iran nuclear accord, assailed by President Trump and his revamped retinue of advisers, received a strong endorsement Monday from a bipartisan group of more than 100 national security veterans, who said the United States gains nothing by scrapping it. The group, including 50 retired military officers and at least four former American ambassadors to […]

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Total to apply for waiver if US withdraws from Iran deal

French oil major Total is committed to the development of an Iranian gasfield and will apply for a waiver if US President Donald Trump unilaterally withdraws from the 2015 Iran nuclear deal and re-imposes sanctions on Tehran, the company’s chief executive said. “If the US decides to put back the sanctions, we have to look […]

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Iran, Serbia Resume Direct Flights After 27-Year Gap

After a gap of 27 years, direct flights between Iran and Serbia resumed on Saturday, when an IranAir jet touched down at Belgrade’s Nikola Tesla airport, Serbian media reported. Iran Air is offering a direct service between Tehran and Belgrade twice weekly, with all flights fully booked until the end of the summer, the reports […]

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‘ONGC Videsh, Iran’s IDRO Oil sign accord’

Firms to bid for Susangerd field: IRNA ONGC Videsh, the overseas arm of government-owned ONGC, has signed a cooperation agreement with Iran’s IDRO Oil to jointly bid for a $900 million development plan of Susangerd oilfield in southwest Iran, Islamic Republic News Agency (IRNA) reported on Tuesday. ONGC did not comment on the development when […]

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Louvre Brings “Unprecedented” Show to Tehran

Journalists flooded Iran’s National Museum on Monday for the arrival of more than 50 artworks from the Louvre—the first major show by a Western museum in the country’s history. The show reflects France’s determined use of cultural diplomacy as it seeks to rebuild traditional ties with Iran, even as their officials hold tense talks over […]

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Iran prepares to boost jobs, clean air by revamping auto fleet

Major Iranian urban centers have seen unprecedented air pollution in recent years. According to officials, it is caused primarily by the many cars on the streets, with heavy vehicles including trucks and buses emitting 63% of air-polluting particles. An estimated 350,000 dilapidated heavy vehicles, according to the traffic police, are particularly large producers of pollutants. These vehicles also consume more fuel than newer […]

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Iran Sticking to Nuclear Deal: UN Watchdog

Iran is still sticking to the 2015 nuclear accord, a UN atomic watchdog report showed Thursday, four months ahead of US President Donald Trump’s deadline to fix its “disastrous flaws”. The International Atomic Energy Agency document, the ninth since the deal came into force in January 2016, showed Iran complying with the accord’s key parameters. […]

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Iranian SMEs Open for International Business, But on Their Terms

Academic research on Iranian managers is scarce, mainly because of the lack of business ties with foreigners and longstanding international sanctions. Relatively little is known about how Iranian managers, particularly those at smaller enterprises, perceive business collaboration with outsiders. In order to address this knowledge gap, we have conducted a major survey among Iranian managers in […]

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Rouhani’s visit gives push to Indo-Iran oil deal

NEW DELHI: Iranian President Hassan Rouhani’s visit appears to have smoothened the creases in bilateral energy ties that had developed over delayed Farzad-B gas field deal, with both sides going back to the negotiating table as well as New Delhi agreeing to buy more Iranian crude and Tehran reciprocating by offering “good incentives”. India also […]

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Iran’s Rouhani seeks Indian investment amid U.S. pressure

NEW DELHI (Reuters) – Iranian President Hassan Rouhani will be seeking billions of dollars of Indian investment during a visit to New Delhi, diplomats said, a trip that comes amid U.S. pressure to review a 2015 international nuclear deal and re-impose sanctions on Iran. India is trying to develop the port of Chabahar on Iran’s […]

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Can Blocking Regulations Help Europe Protect Its Iran Business From Trump?

In the last week, European business leaders and policymakers have grown more vocal about the possibility that the European Union would employ blocking regulations to protect European businesses from the reach of US secondary sanctions on Iran. These regulations would penalize European companies for complying with secondary sanctions, which may snapback if the Trump administration […]

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Iran, Azerbaijan warm up ties after years of frost

The collapse of the Soviet Union in 1991 was followed by the independence of several states in the Caucasus, including the Republic of Azerbaijan. While the newfound Azerbaijani state has not enjoyed warm ties with Iran, this trend appears to be changing as the two countries move closer to one another. The absence of close ties […]

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