Thursday , 28 March 2024

Economy

Top Iranian Lawmaker Says European Trade Mechanism ‘Not Likely’ To Happen

Radiofarda – Chairman of the Iranian Parliament’s National Security and Foreign Policy Committee, Heshmatollah Falahatpisheh says INSTEX, the EU’s financial mechanism to help Iran in trade, is unlikely to become operational anytime soon. Hit hard by U.S. sanctions Iran has been demanding that Europe to help maintain trade, since the United Kingdom, France and Germany are signatories of the 2015 …

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Iran’s Oil Output Falls to Lowest Level in 5 Years, Study Shows

VOA – Iran’s production of oil, its top revenue source, declined to its lowest level in more than five years as the U.S. prepared to unilaterally impose a total ban on Iranian crude exports, a new study shows. In a monthly report released Wednesday, the International Energy Agency said Iranian oil output was 2.6 million barrels a day in April, …

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Iranian National Oil Company opens office in Iraq

Al-Monitor – The National Iranian Oil Company (NIOC) decided May 4 to open an economic representative office in Iraq. The decision was made during a meeting bringing together executives at Iraq’s Oil Ministry and Iranian oil industry equipment producers, on the sidelines of the Iran Oil Show 2019. Ramin Gholampour Dezfouli, NIOC’s director for support, construction and goods supply, said only Iranian companies approved by the …

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Iran Sees Oil Exports Falter, Trade Slump with Germany, US

VOA – U.S. sanctions are biting harder into the Iranian economy, with new signs that Iran’s key oil exports are faltering, while its trade figures with Europe’s biggest economy and with the United States are shrinking. U.S. news service Bloomberg said it has compiled tanker tracking data showing that no oil tankers had been seen leaving Iran’s oil terminals for foreign ports …

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U.S. Trade With Iran Comes To A Halt After Sanctions

Radiofarda – The United States Census Bureau said on Thursday that U.S. exports to Iran in the first quarter of 2019 show 55% drop compared with the same period in the previous year. The U.S. total exports to Iran in the first quarter of 2019 amounted to $14.6 million, the Census Bureau reported, adding that U.S. imports from Iran in the …

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Iranian Oil Shipments Seem To Have Stopped In May

Radiofarda – No oil tankers have left Iranian loading ports since U.S. ended its sanctions waivers allowing a handful of countries to buy Iranian oil, Bloomberg reports. Tanker tracking data cannot be fully accurate, as ships can turn off their transponders making them invisible to tracking systems, but so far, no tanker has been observed leaving port or on open …

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Iran Says u.S. Violating Prior Treaties By Sanctioning Metals Industry

Radiofarda – In a statement on Thursday, May 9, the Islamic Republic strongly condemned the latest U.S. sanctions targeting Iran’s industrial metals sector. Iran’s Foreign Ministry spokesman, Abbas Mousavi, said Washington’s decision to impose sanctions on the Islamic Republic’s industrial metals violates the U.S. international commitments and makes the “regime” internationally accountable. “These sanctions, like other unilateral U.S. sanctions, are …

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US Sanctions Hit Two of Iran’s Top Non-Energy Exports

VOA – New U.S. sanctions targeting Iranian industrial metals will hit two of the country’s most lucrative non-energy exports, according to Iranian government data seen by VOA Persian. President Donald Trump signed an executive order Wednesday, seeking to deny Iran revenue from its exports of iron, steel, aluminum and copper. The measure blocks the assets of people involved in producing …

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US warns European banks, businesses against using Iran-EU trade mechanism

Al-Arabia – The United States on Wednesday warned European banks, investors and businesses against engaging with the so-called special purpose vehicle (SPV), a Europe-backed system to facilitate non-dollar trade with Iran and circumvent US sanctions. “If you are a bank, an investor, an insurer or other business in Europe you should know that getting involved in the … Special Purpose …

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US Slaps New Sanctions on Iran as Tehran Suspends Some Nuclear Deal Commitments

VOA – The United States has imposed sanctions on Iran’s metal sectors as tension escalates between the two countries. The White House statement made the announcement in a statement issued Wednesday, a year after the U.S. withdrew from the 2015 Iran nuclear deal. Iranian President Hassan Rouhani says his country will suspend its compliance with prohibitions on stockpiles of enriched …

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