TEHRAN – Mohammad Baqer Nobakht, head of Budget and Planning Organization, unveiled the first section of a comprehensive plan aimed to tackle U.S.-led sanctions against Iran, ISNA reported. In a letter to President Hassan Rouhani published on Friday, Nobakht enumerated the first part of the comprehensive plan, which is comprised of 12 executive packages, prepared […]

TEHRAN- Iran imported 5.7 million liters per day of gasoline during the three-month period from the beginning of current Iranian calendar year (March 21), which was 3.3 million liters less than the planned amount for this period, the managing director of National Iranian Oil Products Distribution Company (NIOPDC) announced. Mohammadreza Mousavikhah also said: “We are […]

In the wake of US pressures, India will likely cancel rials-rupee trade agreement with Iran, which was inked three years ago. According to the informed sources, India tries its utmost effort to receive sanctions waiver from US for its important project in Iran’s Chabahar Port. Since Iran had been put under sanctions by the United […]

Crude oil prices could jump as high as US$250 a barrel if Iran goes through with its threat to close the Strait of Hormuz in response to U.S. pressure on oil buyers to cut their Iranian purchases to zero, RT reports, quoting analysts. The most bullish among these analysts was Artem Avinov from online broker […]

 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 […]