The use of the US dollar to put pressure on other countries will lead to the creation of an alternative world currency, costing the dollar its world currency status, a top Russian deputy told on Wednesday. Anatoly Aksakov, who heads the Russian State Duma Financial Committee, said the dollar gained its “world currency” status in […]

The two-year old Iran-Turkmenistan gas dispute has now officially been transferred to the International Court of Arbitration (ICA) and the court is expected to issue its verdict within two years. Türkmengaz authorities have now officially announced that due to failure of talks with Iran over the gas row, they have filed a lawsuit against Iran […]

CEO of National Petrochemical Company (NPC) Reza Norouzzadeh said that petrochemical industry of the country is ‘unsanctionable’ and petrochemicals in the country will be exported to the global markets according to the scheduled program. Sanctions will have no significant effect in petrochemical industry of the country, he said, adding, “however, petrochemical industry should be prepared […]

TEHRAN- Iran’s value of non-oil exports is planned to reach $50 billion in the current Iranian calendar year, which ends on March 20, 2019, according to an official at Trade Promotion Organization (TPO).  In a press conference on Tuesday, Mohammadreza Modoudi, the deputy head of TPO for development of goods and services exports, also said […]

A meeting embracing a number of Syrian economic figures and Iranian economic delegation was held Monday to discuss bilateral cooperation between the two countries and the mechanisms for their activation and development. During the meeting, held at Damascus-based Dama Rose Hotel, both sides underlined the necessity to develop and activate the agreements signed between the […]

An Iranian MP said on Tuesday that the former CBI governor Valiollah Seif must be held liable for rigging in gold and currency markets. Mohammad Hassannejad, a member of Iranian Parliament’s Economic Commission, said that the former governor of the Central Bank of Iran (CBI) Valiollah Seif must be held responsible for riggings in the […]

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 […]