TEHRAN (Iran News) – Dozens of European firms have announced readiness to cooperate with Iranian companies in the petroleum industry within the framework of a European trade mechanism, an Iranian official said on Saturday. Reza Padidar, chairman of the Energy Committee of Tehran Chamber of Commerce, told a news conference in the Iranian capital that […]

TEHRAN (Iran News) – Russian Foreign Minister Sergei Lavrov has said that the recent turmoil in Iran and the fact that its economy is pressured, is mainly a result of the illegal sanctions the US imposed on the Islamic Republic after unilaterally withdrawing from the 2015 nuclear deal. “Problems in Iran are very serious, to […]

TEHRAN (Iran News) – Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said on Saturday that his country and Oman are enjoying very close political relations which will bring about stronger economic ties, adding that he will have more meetings with Omani officials. “Good political ties between Iran and Oman have paved the […]

TEHRAN (Iran News) – Iran’s Deputy Minister of Road and Urban Development for Transportation Shahram said that Iran is open to expanding regional and international cooperation on transportation, adding that Tehran sees such a strategy as an opportunity. Addressing the 14th Meeting of the Intergovernmental Commission Transport Corridor Europe-Caucasus-Asia (TRACECA) in Baku on Friday, Adamnejad […]

TEHRAN (Iran News) – Iranian province of Semnan exports, including 182,241 tons of commodities worth $170 million during the eight months to November 21, a senior official at the Islamic Republic of Iran Customs Administration said. “The figures indicate a 19% fall in terms of volume but a considerable increase of 62% in terms of […]

TEHRAN (Iran News) – US President Donald Trump on Friday called for the World Bank to stop giving loan to China, one day after the institution adopted a lending plan to Beijing over Washington’s objections. The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans […]

TEHRAN (Iran News) – Iran has adopted special measures to extend support for its saffron farmers, according to Deputy Minister of Agricultural Jihad Hossein Shirzad said. Shirzad, who is also the head of Central Organization for Rural Cooperatives (CORC), said from the start of saffron harvesting in the current crop year (started in mid-October), the […]

TEHRAN (Iran News) – Iran’s South Pars daily gas production will reach one billion cubic meters (bcm) by March 2020, which would be a miraculous achievement at a time when the country is under severe unilateral sanctions imposed by the US, said an Iranian MP. In May 2018, President Donald Trump pulled the US out […]

TEHRAN (Iran News) – Saudi Arabia and Russia won backing for further OPEC production cuts on Friday as they look to head off global oversupply in 2020 and sustain prices. The group of more than 20 producers agreed to an extra 500,000 barrels per day (bpd) in cuts for the first quarter of 2020, taking […]

Oil price decreased on Friday as a meeting between OPEC and its allies later in the day is expected on a formal agreement to more output curbs in early 2020.