President of Iran-Spain Joint Chamber of Commerce Mohammad Taheri says INSTEX doesn’t include what Iran wants from Europe, that is purchase of Iranian crude, but it should be activated anyway.
Central Bank of Iran says oil sales are on the rise and that petrodollars are coming back much easier as Iran forays into various avenues to examine how to bypass the US sanctions.
The Iranian president has signed into law the free trade agreement with the Eurasian Economic Union (EAEU) after the law was passed by parliament.
Sri Lanka is likely to sign a deal with Iran to sell its famed tea over the next two years in exchange for the settlement of loans obtained for the purchase of oil, Sunday Times reports.
The restructuring comes after the US reimposed economic sanctions on the country’s vital oil and banking sectors, reducing Tehran’s petrodollars.
Turkmen Ambassador to Iran Ahmed Gurbanov says the upcoming first Caspian Sea littoral states economic forum is supposed to improve the economic cooperation perspectives between the five countries that share Caspian Sea: Iran, Azerbaijan, Turkmenistan, Russia and Kazakhstan.
The EU’s plan to continue trading with Iran in defiance of US sanctions has, so far, come up short. Tehran wants oil included in the new barter system, INSTEX. Despite US threats, Brussels appears to be listening.
Emmanuel Bonne, the senior diplomatic aide to French President Emmanuel Macron is expected in Tehran later on Wednesday in a bid to talk about exit ways of the current nuclear dilemma. He many also talk about Europeans efforts to get INSTEX operational.
Islamabad is studying plans to privatise its bankrupt steel maker. But, it needs over $100m and such huge investment is hard to come by in cash-stripped Pakistan. Iran Chamber Newsroom analyses if Iranian private steel makers should invest in PSM.
Iran’s overseas debts have declined from $10.03 billion reported at the end of the fiscal third quarter (Dec. 21, 2018) to $9.3 billion by the end of the fourth quarter (March 20, 2019), indicating a 7% decline.