China commits to some $8.1 billion worth of investment and finance to Iran’s agriculture projects.
Iran and China have a potential to triple the value of their annual trade to over $70 billion, according to a senior Iranian businessman who coordinates private-sector trade between the two countries.
Iran and Russia are still in talks over a potential agreement that will allow the delivery of Russian oil and natural gas supplies via Iran to other countries under a swap arrangement.
Figures by the Central Bank of Iran (CBI) show the country’s economy continued to grow in the second quarter of the calendar year that started in March 2022 despite continued economic pressure caused by American sanctions.
Russia will reportedly replace German-made hydropower-plant turbines with Iranian-made ones as Western sanctions have halted operations of Siemens in Russia since February 2022.
Venezuelan Oil Minister Tareck El Aissami has hailed Iran’s experiences in the field of energy and technology, saying his country is willing to benefit from them and forge closer cooperation with Tehran.
Iran will supply a large shipment of honey to China in the near future, a first of its kind for the country’s honey industry.
Iran had the largest growth rate in steel production in the world in 2022, according to latest figures by the World Steel Association (worldsteel).
Iran has officially raised the cap on interest rates that banks in the country can charge weeks after media reports suggested the government is trying to use the monetary policy instrument to contain the rising inflation.
The figure accounts for some 45% of the total foreign investment attracted by Iran over the period, said Fekri.