ATR Chief Executive Christian Scherer said the Franco-Italian company will sustain “serious damage” to its finances if its contract with Iran breaks under US pressure. According to Reuters, ATR Chief Executive Christian Scherer has been in talks with the US Treasury, urging the Trump administration to unblock the export of about six regional planes to […]

 Iran’s representative to OPEC taunted US President Donald Trump for its “despicable” tweets addressing OPEC, saying if Trump does not stop tweeting, oil prices will go even higher. Hossein Kazempour Ardebili taunted Donald Trump for his lack of knowledge about global oil markets by ordering OPEC to reduce oil prices, saying “for the past thirty years, […]

The head of Lukoil, Russia’s oil-producing giant, Vagit Alekperov said he expects to sign contracts with Iran to develop the country’s oil fields in 3-4 months. These are the oil fields of Mansuri and Shanguleh, the development of which the National Iranian Oil Company (NIOC) announced a tender in the summer of 2017. Lukoil has […]

TEHRAN- Governor of the Central Bank of Iran (CBI) Valiollah Seif announced about official inauguration of secondary foreign exchange market on Wednesday, IRNA quoted him as saying on the sidelines of the cabinet meeting. The secondary market will allow exporters of non-oil commodities to sell their foreign currency earnings to importers of consumer products at […]

The Islamic Republic of Iran and the Republic of Austria signed 4 cooperation documents in the presence of Iranian President Rouhani and Austrian Chancellor Kurz. In the ceremony that was held on Wednesday, during President Hassan Rouhani’s official visit to Austria, four documents were signed by senior officials of the two countries in the fields […]

Iranian lawmakers passed single urgency on a bill for using domestic financial messaging system that once finalized, will require the Central Bank to ink bilateral or multilateral monetary agreements with at least 24 countries in the world. The single urgency bill was passed by 103 votes in favor, 67 votes against and seven abstentions during […]

TEHRAN- The €1.2-billion project for electrification of Garmsar–Incheboron railway in Iran was officially inaugurated on Monday, IRIB reported. As reported, senior officials from Iran’s Transportation Ministry, the Islamic Republic of Iran Railways (known as RAI), and JSC Russian Railways attended the inauguration ceremony which was held through video conference in Tehran. The electrification of the […]

Franco-Italian passenger aircraft manufacturer, ATR, confirmed that it is seeking new export license from the US Treasury Department to allow it to deliver the final 12 ATR 72 planes already purchased by Iran. According to ainonline, ATR, Franco-Italian passenger aircraft manufacturer, confirmed that it has applied for a new export license from the US Treasury Department’s […]

The president of the Swiss-Iranian Chamber of Commerce and Industry has announced Bern’s support for helping Iran’s financial transactions despite risk of US sanctions. According to Deutche Welle Radio, Simon Tiberius Fundel, said that Switzerland will take measures to facilitate Iran’s economic activities when the United States sanctions come into effect. Tiberius Fundel, who made […]

 Naser Behzad, the Commercial Attaché at the Iranian Embassy in Baghdad, announced an increase of 13% in Iran’s non-oil exports to Iraq. Behzad said on Tuesday that the value of non-oil exports to Iraq in the first quarter of current year was also up 3 percent from the same period last year; Iran’s share of […]