A senior regional official is visiting Tehran on Tuesday to finalize the mechanism for releasing seven billion dollars of Iran’s frozen funds.
The volume of annual trade between Iran and the United States stood at $40.6 million in 2021, according to latest data released by the US Census Bureau.
President Ebrahim Raeisi says an agreement with the parties to the 2015 accord is only possible if the cruel sanctions against the Iranian nation are removed.
Iran’s UN Ambassador Majid Takht-Ravanchi said unilateral American sanctions on developing countries violate basic principles of human rights and contradict goals of development.
New Minister of Petroleum Javad Owji says the "tyrannical" US sanctions have deprived Iran of 1.8 billion barrels of oil exports and more than $100 billion of revenues.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei said on Wednesday that South Korea had to seek ways to compensate the damages caused by following the US sanctions against Tehran.
A South Korean newspaper report says funds belonging to Iran and frozen in two bank accounts in the country have been used to pay back debts to dozens of companies who had exported goods and services to Iran before the country came under US sanctions in 2018.
The US State Department has reportedly informed Congress of its decision to waive sanctions on Iran’s oil trade so that Tehran can pay off its debts to Japanese and Korean exporters from its frozen funds, without being able to transfer the funds to the country.
Iran’s economy would unlikely be restored to a robust level if major U.S. sanctions on the country remain, recent researches and opinions indicated.
The Institute of International Finance (IIF) has estimated that Iran’s economy will continue to grow by a modest rate of 3.5% this year if the country and world powers succeed in talks to revive a 2015 nuclear deal.