US sanctions

Iran to receive $1B of blocked money in South Korea via Swiss channel

Washington has agreed “in principle” on the partial transfer of Iranian funds held by South Korean banks under US sanctions to Switzerland, South Korea’s official KBS World Radio station cited a senior foreign ministry official as saying.

Macro Economy

Diplomatic window of opportunity open to bring JCPOA back on track: Borrell

The European Union’s top foreign policy official has called for a concerted effort to use what he has referred to as a "diplomatic window of opportunity" in order to revive a 2015 nuclear agreement signed between Iran and major world powers.

Macro Economy

South Korea to release $1B of blocked Iranian money

An Iranian government spokesperson on Tuesday said that South Korea will be releasing $1 billion in frozen assets as an “initial step” in resolving a dispute between the two countries.

Trade

Biden repudiates Trump’s “snapback” mechanism, offers to restart nuclear talks

The Biden administration rescinded former president Donald Trump’s restoration of U.N. sanctions on Iran, an announcement that could help Washington move toward rejoining the 2015 nuclear agreement aimed at reining in the Islamic Republic’s nuclear program.

Macro Economy

JCPOA worthless if sanctions not lifted: Araghchi

Iran’s deputy foreign minister for political affairs reiterated that the nuclear deal signed with world powers would be of no value if sanctions were not lifted.

Macro Economy

UN court says it can hear Iran-US sanctions case

The UN’s top court ruled on Wednesday that it can take on Iran’s bid to overturn US nuclear sanctions reimposed by the administration of former US president Donald Trump.

Society Economy

Iran, Pakistan mulling electricity for rice barter plan

Iran’s Minister of Industry, Mining and Trade Ali Reza Razmhosseini says the country is ready to barter its electricity with rice from Pakistan.

Trade

European banks helped Iran make prepayment for COVAX vaccines: CBI chief

Central Bank of Iran (CBI) Governor Abdolnasser Hemmati says the country has finally made a prepayment for purchase of vaccines to tackle COVID-19, the disease caused by the coronavirus pandemic.

Financial Markets

Iraq to release Iranian funds for vaccine purchase from Europe: Minister

Iran’s Energy Minister Reza Ardakanian says he has reached an agreement with the Iraqi government authorities on how Iranian funds blocked in a commercial bank in the Arab country could be used by Tehran for purchase of COVID-19 vaccines from a European manufacturer.

Society Economy

Iran gets round US bans to pay for coronavirus vaccines

The Iranian government has finally worked out a solution to pay for foreign supplies of coronavirus vaccines, says the country’s chief banker, amid a series of harsh financial restrictions imposed on the country by the United States.

Society Economy