In a meeting with Malaysian Deputy Foreign Minister Dato’ Kamarudin Jaffar, Harirchi said on Tuesday that Iranian researchers have been successful in developing nine vaccines and four of them will be distributed within next months, adding that the Iranian people will be provided with the first domestically produced vaccine in next 40 days and that the second vaccine with the production capacity of eight to 10 million doses per month will be available within around 70 days.

The third and forth vaccines will be distributed within 120 days, the Iranian official said, noting that Iran could cooperate with Malaysia in producing these corona vaccines.

Pointing to the impact of sanctions imposed on the Islamic Republic of Iran since the victory of the Islamic Revolution in 1979, he stipulated that 98.3 percent of medicine used in Iran are being produced inside the country.

The health official has expressed the Islamic Republic’s readiness to expand relations and cooperation with the Muslim country of Malaysia in different political, cultural, economic, trade and health sectors.

He also underlined that officials from both sides have held phone calls to exchange experiences on the ways to confront the outbreak of the coronavirus pandemic as well as discuss issues of mutual interests.

Malaysian and Iranian health officials have so far emphasized that they are prepared to cooperate in producing vaccines, exporting medicines and supporting startups active in health sectors of both countries.

Head of Pasteur Institute of Iran Alireza Biglari said the Malaysian side has received a report on the institute’s experience on producing vaccines and expressed readiness to expand cooperation with Iranian research and health organizations.

A proposed memorandum of understanding between the two sides has been finalized in the Tuesday meeting, which will be signed in a future session between health ministers of both countries.

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The Fakhra vaccine Project Manager Dr. Karimi said in the unveiling ceremony that the efforts of the agency leading to the development of the vaccine started with manufacturing COVID-19 test kits and level-3 portable laboratories.

He said that research and development for the Fakhra vaccine began in December 2019, by collecting 35,000 samplings of the virus, from which 30 samples appropriate for initial vaccine seeds were isolated and cultivated.

Virus identification tests were then carried out and the final vaccine candid entered the trial production phase in June 2020, according to Karimi.

He also said that the vaccine then moved forward with other phases including animal tests and was finally given to Iran’s Food and Drug Administration which after some modifications licensed the vaccine to move with the clinical trial.

In the ceremony, Iran’s Health Minister Saeed Namaki also gave a speech, promising that Iran would soon become a world leader in producing the COVID-19 vaccine.

He underlined that Iran has managed to produce several vaccines for the Coronavirus, despite the US sanctions pressure preventing the country from affording vaccines produced in other countries.

COVIran Barakat and Razi CovPars are other Iranian vaccines in the clinical trial phase, in addition to Soberana-02 which is a joint product of Cuba and Iran. There are also several other vaccines in the early stages of development.

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IRAN NEWS ECONOMIC DESK

TEHRAN – President of Iran-Swiss Chamber of Commerce Mr. Sharif Nezam Mafi says Iran will face problem for purchasing of coronavirus (COVID-19) vaccine out of the Swiss humanitarian trade agreement (SHTA), adding that the SHTA has been launched for this purpose and it will need no joining the FATF.

Speaking to ILNA, Nezam Mafi said that the chamber predicted that the SHTA would be one of the few channels for providing COVID-19 vaccine and the process is underway, adding the strange thing is the U.S. Administration issued license for Iran to use its frozen assets to purchase vaccine. He said nobody expected this to happen during the Trump Administration but the world community pressures forced the U.S. to make such a decision.

He further said that since the SHTA can function out of the FATF system, this license was issued, adding that two Iranian banks observe the FATF regulations and for this reason there is no problem for such trades through these banks.

He expressed hope that after purchase of COVID-19 vaccine, the country would be able to do more purchases and by revising the decision on joining the FATF, Iranian banks could be delisted by the FATF.

Nezam Mafi went on to say that the country should work to remove some 18 Iranian banks from the FATF black list because even the U.S. under Joe Biden returns to the JCPOA, the FATF woe will still remain and this is the woe that we ourselves have created it.

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Speaking in the Saturday meeting of the Scientific Committee of Coronavirus Combat and Prevention Headquarters, Iranian President Hasan Rouhani said that the status of Coronavirus in the country is promising due to the appropriate measures taken in recent week.

Stating that today the COVID-19 death toll in the country has decreased by 200 people in 24 hours, Rouhani expressed hope that with efforts of the Iranian nation and the government, the country will witness such decreasing trends.

Hailing the measures of the government in terms of supplying about 2,000 beds in a short time, oxygen devices, ventilators, CT scan machines, he reassured that the government spares no effort for supporting the Iranian knowledge-based companies trying to produce COVID-19 vaccine.

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Oil markets also rose after Saudi Arabia suggested it and other oil producers could adjust its current supply-cut pact, perhaps taking more barrels off the market if demand slumps in the winter as infections rise and before the vaccine is widely available.

“Oil soars 8% on promising COVID-19 vaccine results”

Fuel demand is down worldwide as a result of the pandemic, and with infections now surpassing 50 million globally, numerous nations, especially in Europe, are reimposing lockdowns to slow the virus’s spread. The vaccine news gave traders hope that the pandemic could be tamped down next year, which would help people resume normal life, boosting demand.

“Oil particularly reacted to the news because of what it means,” said John Kilduff, partner at Again Capital in New York. “The pandemic is hitting transportation terrifically and 80% of crude oil barrels go to transportation fuel, so I think this is a logical response.”

Both contracts rose more than $4 earlier in the session as traders sought to unwind bearish bets. Brent and WTI traded 148% and 139% of last session’s volumes, respectively.

Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19, based on initial data, a victory in the battle against a pandemic that has forced lockdowns around the world.

The OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and its allies, could adjust their deal to balance the market, the kingdom’s energy minister Prince Abdulaziz bin Salman said.

“Oil soars 8% on promising COVID-19 vaccine results”

OPEC+ is currently cutting 7.7 million barrels per day (bpd), and considering reducing those cuts to 5.7 million bpd from January. If OPEC+ maintains the current curbs on output, it would tighten supply and lead to higher prices.

Key members of OPEC are wary of U.S. President-elect Joe Biden relaxing measures on Iran and Venezuela, which could mean an increase in oil production that would make it harder to balance supply and demand.

“While a Biden presidency increases the likelihood of Iranian oil supply returning to the market, this is not something that will happen overnight, and we still believe it’s more likely an end of 2021/2022 event,” ING said in a note.

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