Switzerland releases Iran’s frozen cash
Switzerland freed up money from Iran that was frozen in Swiss bank accounts after sanctions imposed against the Islamic Republic were lifted. A sum of $11.8 million had been stopped from leaving Switzerland after being frozen between 2007 and 2012, as part of a sanctions programme against Iran to attempt…
Iran signs oil deal with Russia’s Lukoil
Russia’s Lukoil has sealed a deal with Iran to look for hydrocarbon reserves in southern Iran. Iran says it has signed a deal with Russia’s Lukoil over two exploration projects in the country’s southwestern oil-rich Khouzestan province, reported Press TV. Hormoz Qalavand, the director for exploration affairs of the National…
Peugeot likely to finalize Iran deal Wednesday
Iran Khodro and Peugeot will likely finalize an initial deal for €500 million in joint investment in Iran during President Hassan Rouhani’s visit to France on Wednesday, a report said. Under the 50-50 joint venture, the two carmakers will produce Peugeot 2008 crossover, 208 super and 301 compact, Tasnim News…
Russia, Iran to negotiate joint venture investment in food trade
Iran is ready to cooperate with Russia on joint venture investment in seafood industry and trade. The Federal Agency for Fishery (Rosrybolovstvo) said that Russian Minister of Agriculture of the Russian Federation Alexander Tkachev in his talks with Iranian Minister of Agricultural Jihad in Tehran reviewed ways to develop joint…
OPEC output falls in December
The latest Platts survey of OPEC and oil industry officials and analysts show that oil production from the Organization of the Petroleum Exporting Countries and certain OPEC members fell in December, while Iran’s output was on the rise. Platts survey said oil production from the Organization of the Petroleum Exporting…
Poland envoy calls for expansion of economic cooperation with Iran
Polish Ambassador to Tehran Juliusz Gojlo on Sunday called for expansion of economic and trade cooperation with Iran. He made the remarks in a meeting between Polish economic and trade delegation with Alborz province Chamber of Commerce. Gojlo said that Poland has economic capabilities, especially in the field of small…
Foreign investors to develop international Airport
Abbas Ahmad Akhoundi, Iranian Minister of Roads and Urban Development, said at a press conference on Sunday morning that “one foreign company has expressed willingness to undertake expansion of IKIA while more details will be announced upon signing of a contract.” Referring to the country’s aircraft demand, Akhoundi asserted “we…
CBI governor: Preparations made for opening 1,000 LCs
Governor of Central Bank of Iran (CBI) Valiollah Seif said on Tuesday that preparations have been made for opening up 1,000 Lines of Credit (LCs). Speaking to reporters on the sidelines of a gathering of non-governmental entrepreneurs, Seif said that the process of opening LCs began on Monday. Noting that…
