Japan starts truck exports to Iran: NHK
Mitsubishi Fuso Truck and Bus Corporation has become the first Japanese automaker to announce that it will do business with Iran since the economic sanctions on the country were lifted, Japanese NHK reported. The company said on Tuesday that it will start exporting light-duty trucks this year and had signed…
Lift of anti-Iran sanctions, special chance for Italian companies
Managing director of Italy’s Genius Car Ltd announced that lifting anti-Iran sanctions is a special opportunity for the foreign firms, also the Italian ones, to be present in Iranian market. The talks on implementation of Joint Comprehensive Plan of Action (JCPOA) concluded in Vienna on Saturday, and the US and…
EU energy officials to visit Iran in February
The European Commission will undertake a first ‘technical assessment mission’ in February to explore energy ties with Iran following the lifting of international sanctions, European Climate and Energy Commissioner Miguel Arias Canete said on Sunday. Late on Saturday, the European Union, the United Nations and the United States lifted sanctions…
Kuwaiti banks ready for cooperation with Iran in post-sanction era
Kuwaiti banks and businesses are ready for resuming cooperation with Iranian banks, Kuwaiti daily al-Rai said on Tuesday. The daily wrote that resumption of banking operation with Iran does not need a go-ahead of Kuwait Central Bank following cancellation of US and European sanctions. It said that Iran was under…
World Economic Forum wraps up in Davos with oil prices, Iran in limelight
The 46th World Economic Forum (WEF) has wrapped up in the Swiss ski resort of Davos. Some 2,500 participants from some 100 countries, including the leaders of 40 states, gathered in Davos to discuss the most urgent international issues, including falling oil prices, anti-Russia sanctions and the prospect of Iran’s…
Iran signs oil deal with European refiner as sanctions end
Iran signed an agreement to supply crude oil with Hellenic Petroleum SA, a Greek oil refinery, in what may be the Persian Gulf producer’s first such deal with a European company since the removal of sanctions this month. Deliveries will begin immediately, Hellenic Petroleum said in an e-mailed statement on…
Brazil wants to triple bilateral transactions with Iran
After the United States and the European Union announced on Saturday the end of Iran’s sanctions, the Brazilian government estimates that trading between the two countries will triple over the next five years. In 2015, bilateral trade shrank 30%, totaling $1.67 billion. In the previous year, before the toughening of…
S Korea KEXIM bank eyes 5b euro financing deal with Iran
The state-run Export-Import Bank of Korea (KEXIM) said on Tuesday it plans to sign an agreement with Central Bank of Iran on providing up to about 5 billion euros in financing for South Korean companies doing business there. The specialist trade financing bank said in a statement it plans to…
EU and US poised to lift Iranian sanctions this weekend
Reconnecting Tehran to the global economy set to have huge ramifications for the global economy, especially the oil market The Iranian capital, Tehran, at sunrise. Photograph: Alamy The European Union and US are expected to formally lift sanctions against Iran this weekend, dismantling an intricate network of punitive measures…
