Mitsubishi UFJ Financial Group Inc (MUFG), which is considered the biggest bank of Japan, will stop all transactions related to Iran in compliance with the re-imposing of US sanctions against Tehran, Reuters reported on Thursday. The decision will probably force all costumers to stop their dealing with Iran since most international trade requires clearing through […]

 Reuters market analyst John Kemp has warned against the consequences of Iran’s oil removal from the global markets. MNA republishes the Reuters market analyst’s article published on July 9. The text of the article is as follows: The United States wants to eliminate all Iran’s crude oil exports from November, and is relying on Saudi […]

 Oil prices fell on Wednesday, with Brent dropping by more than $1, after the United States said it would consider requests for waivers from sanctions due to snap back into place on Iranian crude exports, Reuters news agency reported. Brent crude futures were down $1.10, or 1.4 percent, at $77.76 a barrel by 0112 GMT. […]

 Deputy Chairman of the Senate of Pakistan, Saleem Mandviwalla, said Wed. that his country is keen on complementing a long-awaited gas pipeline project with Iran as soon as possible. He made the announcement in a Wednesday meeting with Iranian Ambassador to Islamabad Mehdi Honardoost. During the meeting, the Pakistani official expressed hope that the major […]

The International Congress of Development of Exports from the Caspian Sea has kicked off in Sari, Mazandaran province, aimed at discussing challenges and opportunities facing exports from Iran’s northern ports. The two-day congress focuses on six topics including the role of ports and quality of service, rules and regulations of ports and their roles in […]

Chief Executive of the National Iranian Oil Products Distribution Company (NIOPDC) Alireza Sadeghabadi said that gasoline import into the country in the first three months of the current year (March 21-June 21) experienced a considerable 36 percent decline as compared to the same period of last year. Daily import of 9 million liters of gasoline […]

Iran’s annual crude steel production increased 22 percent in 2017, while the world’s production improved by six percent in the said time, Iranian Industry Minister Mohammad Shariatmadari announced on Tuesday. “Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025,” he said, “To […]

TEHRAN- National Iranian Gas Company (NIGC) has been supplying the power plants in the country with 285 million cubic meters (mcm) of gas per day since the beginning of summer, Mehdi Jamshidi Dana, the dispatching director in NIGC, announced. The official said that this amount of gas meets the whole need of power plants for […]

An independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports, citing an official from the refiner, Dongming Petrochemical Group. What’s more, the source said that Beijing is planning to slap tariffs on US crude oil imports and […]

  Citing a “realignment of its portfolio”, the Austrian Airlines has announced changes in its route network and flight schedule. The Iranian cities of Isfahan and Shiraz will no longer be represented in the Austrian Airlines flight offering as of September 2018, Aviation Tribune reported. The traditional flight to the Iranian capital of Teheran will, […]