Minister of Energy Reza Ardakanian said that a trilateral talk is underway between Iran, Armenia and Azerbaijan for exporting electricity to Russia. In this regard, a trilateral talk has started between ‘Iran and Armenia’ and ‘Iran and Azerbaijan Republic’ to export electricity to Russia, he reiterated. Turning to the connection of Iran’s power grid to […]

TEHRAN- Iranian industry minister said small and medium-sized enterprises (SMEs) should be exempted from paying value added tax for a period of six months to one year, IRNA reported. Mohammad Shariatmadari made the remarks on Sunday in the inaugural ceremony of a three-day exhibition for SMEs to showcase their latest achievements and capabilities. The minister […]

Manager of the National Iranian Oil Company (NIOC) for Investment and Business Affairs Mohammad Mostafavi said that France oil major ‘Total’ has not yet announced its official exit from South Pars Gas Field. Playing the role of members of the consortium for the development of Phase 11 of South Pars Gas Field is in accordance […]

An Iranian deputy minister said French automaker Peugeot has to pay penalty for backing out of a contract it had already signed with Iran. Iranian Deputy Industry Minister Mohsen Salehinia pointed to Peugeot’s refusal to work with Iran under a new wave of US sanctions, saying the French company must pay penalty for cancelling its […]

Central Bank of Iran (CBI) on Saturday night issued a statement on the recent developments at the Foreign Exchange Market according to the government’s new currency package. The statement is read as follows, “with the implementation of the government’s currency package, any transaction of foreign currency by importers, exporters and moneychangers has been authorized at […]

TEHRAN- Required infrastructure is provided for trading cryptocurrency in Iran’s stock exchange, Head of Securities and Exchange Organization (SEO) Shapour Mohammadi told IRNA on Saturday. He said cryptocurrency is something related to the Central Bank of Iran (CBI), but SEO is ready for any kind of cooperation and sees no barrier in this due. The […]

TEHRAN- According to the latest report released by the World Steel Association (WSA), Iran was ranked the 11th among the world’s largest crude steel producers in the first half of 2018, IRIB reported. The WSA data showed that the country’s crude steel output stood at 12.516 million tons during the first six-month of this year, […]

The International Energy Agency (IEA) cautioned about global repercussions of the US anti-Iran measures for the oil market. ‘As oil sanctions against Iran take effect, perhaps in combination with production problems elsewhere, maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion,’ The IEA’s latest […]

A senior Chinese official said Saturday that his country will enhance economic relations with Iran without considering internal laws of third countries. China works with Iran, like it did in the past, in the economic and trade fields, Gao Feng, spokesman for China’s Ministry of Commerce, told Islamic Republic News Agency (IRNA). As Feng said, […]

The two countries of Iran and the Netherlands will expand and broaden their consular relationship. For this purpose, the 4th joint consular meeting was held between Islamic Republic of Iran and the Netherlands in The Hague city in the presence of Director General of the Consular Department of the Iranian Ministry of Foreign Affairs Ali […]