The Iranian cabinet has approved a law that allows authorities to grant residency to investors of other nationalities who can invest up to 250,000 euros in the Iranian economy.
Director of the export support centre in Russia’s Volgograd region believes the US sanctions won’t hurt Iran-Russia ties as the two countries have always been having good relations.
The Iranian representative to the UN says if capital is not injected into the European payment channel with Iran, it won’t suffice as it won’t be able to carry out financial transactions.
The European Union has announced that its INSTEX mechanism to facilitate trade with Iran was up and running on Friday.
Three European signatories to the nuclear deal of 2015, Germany, France and the UK, are expected to inject capital into INSTEX to open credit lines for European companies that are interested in doing business with Iran.
Aleksandr Buyda, director of Russian Engineering Union in the Volgograd region, says it’s necessary to set up a trading house between Iran and Russia to better facilitate bilateral trade.
Data from oil tankers show that an Iranian oil carrier has berthed at a Chinese port to be the first confirmed delivery of Iranian crude purchase after 2 May when the US didn’t extend oil sanctions waivers for clients of Iranian energy.
The European Union’s External Action High Representative Federical Mogherini has said that the INSTEX is ready to be operational and carry out the first trade exchange with Iran before Tehran’s 60-day ultimatum expires next week.
The Iranian industry, mine and trade said a border market will soon be opened on Turkmenistan border in a bid to boost local economy.
Iran’s southern port of Bushehr is about to launch a cargo and passenger shipping line with Qatar using a roro/passenger ship called Grand Ferry.