SPV | Iran Chamber Newsroom

SPV

KOHTA to handle South Korea-Iran humanitarian trade: Envoy

Ambassador of the Republic of Korea to Tehran Ryu Jeong-hyun has explained the mechanisms established by Seoul for conducting humanitarian trade with Iran amid the United States’ sanctions. KOHTA which stands for the Korean Humanitarian Trade Arrangement is going to replace the pilot mechanism which is called the GL8.

Trade

INSTEX shareholders considering dealing with Iran oil: Mogherini

The European trade channel with Iran is reaching its final stages as it’s processing several transactions and some European countries are thinking about buying Iranian oil to inject the revenues into the mechanism.

Financial Markets

Europeans have failed to fully implement INSTEX: Foreign Ministry Spox

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.

Financial Markets

Iraq sets up SPV to buy Iranian power in wake of US sanctions: Report

AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.

Financial Markets

INSTEX without capital is like a beautiful car without fuel: Iran

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.

Financial Markets

EU’s Mogherini says INSTEX, ‘ready to be operational’

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.

Financial Markets

Iran seeking monetary pacts with regional countries: FM Zarif

Iranian Foreign Minister Mohammad Javad Zarif says his country is in talks with several regional countries to do business in national currencies.

Financial Markets

Russia, Netherlands eager to join Europe’s INSTEX

High-level Russian and Dutch officials have said that their countries are very keen on maintaining trade with Iran through the INSTEX mechanism.

Trade

Iran says it has come up with alternative ways to repatriate export revenues

Central Bank of Iran (CBI) says these alternative routes are not susceptible to US sanctions and pressures that have been applied by Washington as part of its so-called maximum pressure campaign.

Financial Markets

Spain says it’s ‘studying’ to join European INSTEX to do trade with Iran

Madrid says PM Sánchez is considering plans on how to join the E3 in the financial channel with Iran that has been created to allow humanitarian trade and other items in the future.

Trade

Featured

Iranian President Masoud Pezeshkian presented a budget of $98.5 billion for the country’s next fiscal year to the Parliament on Tuesday.

Iran president presents next year budget bill to parliament

The volume of trade between Iran and the Eurasian Economic Union (EAEU) has increased by 2.5 times since four years ago when the two sides engaged in a preferential trade agreement (PTA).

Iran’s trade with EAEU countries grows by 2.5 times in 4 years

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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