Friday , 29 March 2024

Economy

Iran’s President Inaugurates New Gas Projects

Radiofarda – Iran’s President Hassan Rouhani has inaugurated a new phase in the development of a massive natural gas field. State TV on Sunday quoted the CEO of the South Pars gas field company, Mohammad Meshkinfam, as saying the development will allow Iran to overtake Qatar in the production of natural gas. The two countries are among the biggest gas …

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Iran To Launch Local Trade Mechanism To Match Europe’s INSTEX

Radiofarda – A mechanism similar to the EU’s INSTEX trade channel, to be called the Special Trade and Finance Institute (STFI), will be registered in Tehran, the head of Iran’s central bank (CBI) said on March 15. Germany, France and Britain launched Instrument for Supporting Trade Exchanges (INSTEX) in January to facilitate business between Europe and Iran in face of …

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Hook Says Pressures On Iran Made Lebanese Hezbollah Call For Donations

Radiofarda – Brian Hook, the State Department’s special representative on Iran, says the U.S. campaign of economic pressure on Iran has had “a lot of progress” to the extent that Tehran has decreased its military budget and its client, the Lebanese Hezbollah is making public appeals for donations. Speaking in an interview with Alhurra television on March 15, Hook said, …

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Iran’s oil minister blames US for market tensions

Al-Arabia – Iranian Oil Minister Bijan Zanganeh said on Saturday frequent US comments about oil prices had created market tensions, the ministry’s news website SHANA reported. Washington had granted waivers to eight major buyers of Iranian oil after the US reimposed sanctions on Iran’s oil sector in November, after withdrawing from the 2015 Iran nuclear deal.“We do not know whether …

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Khamenei Reportedly Rejected Resignation Of VP Heading ‘Economic Resistance’

Radiofarda – A member of the Iranian reformist Supreme Council for Policymaking says Vice President Es’haq Jahangiri continues to serve in his post after Supreme Leader Ayatollah Ali Khamenei rejected his resignation. Reports about Jahangiri’s resignation made headlines in recent months, but Rouhani’s administration has denied it. Ali Soufi, who was minister during the presidency of Mohammad Khatami (2001-2005), said, …

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Conservative Khamenei Ally Says Iran’s Economic Problems Are Internal

Radiofarda – Saeed Jalili, the conservative former secretary of Iran’s Security Council and nuclear negotiator criticized officials of President Hassan Rouhani’s government, who in his words tie Iran’s economic difficulties to joining international conventions or sanctions imposed on the country. Jalili was echoing the statement of Supreme Leader Ali Khamenei who on March 14 urged Iran’s establishment “not to be …

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Most Iranians Can’t Afford Treats For Upcoming New Year Celebrations

Radiofarda – There are no better treats for Norooz (Iranian New Year, March 21) celebrations than dry nuts and sweets for offering to visiting family and friends, but this year, prices for nuts have gone beyond the reach of most Iranians. A kilo (2.2 pounds) of Grade A local pistachio goes for more than $15, based on free market exchange …

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US Says Sanctions Have Cost Iran $10 Billion in Oil Revenue

VOA — Iran has lost $10 billion in revenue since U.S. sanctions in November have removed about 1.5 million barrels per day (bpd) of Iranian crude from global markets, a U.S. State Department official said on Wednesday. Brian Hook, the State Department’s special representative on Iran, said in remarks at the CERAWeek energy conference that due to a global oil …

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Iran’s hard-liners praise Rouhani for boosting trade with Iraq

Al-Monitor – The geo-economic aspects of President Hassan Rouhani’s visit to Iraq couldn’t be more pleasing to Iran’s conservatives. Ever since the US departure from the Joint Comprehensive Plan of Action (JCPOA) last May, conservatives have urged Rouhani to bypass Washington’s reinstated sanctions by focusing on trade with neighbors like Iraq as opposed to the Europeans. Rouhani expressed his willingness to …

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