TEHRAN – National Iranian Gas Company (NIGC)’s Gas Distribution Director Saeid Momeni said 73.6 percent of the country’s rural areas have been connected to the national gas network by the end of the current Iranian calendar year’s first quarter (June 21). According to the official, the NIGC has it on the agenda to supply gas […]

 South Korea’s imports of Iranian oil fell 40.3 percent in June from the same month a year ago to their lowest since January 2015. South Korea, one of Asia’s major Iranian oil customers, imported 686,849 tons of Iranian crude in June, or 167,820 barrels per day (bpd), compared with 1.15 million tons in June 2017, […]

The United States’ ban on Iranian products will result in the loss of US and UAE’s markets for Iranian carpets, hence it is necessary for exporters to focus on alternative markets such as Germany, Russia and Oman, Deputy Industries Minister Sadeq Najafi said. Germany, Italy, France, Switzerland, the United States, the UAE, Kuwait, Qatar, Lebanon […]

India’s Finance Ministry has announced that there is no objection to allowing the Iranian private lender Bank Pasargad to open its branch in Mumbai and the Iranian bank’s proposal has been approved. According to Indian Express, in the wake of US sanctions, India may explore the possibility of reviving the rupee-rial arrangement to oil-related transactions […]

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 […]