With financial channels stifled, Iranian citizens pay sanctions price

The US unilaterally walked out of the Iran nuclear deal and reimposed sanctions that target the oil and banking sectors. Washington says humanitarian goods, such as food, are exempt from the measures. But, the situation on the ground shows the otherwise. Ordinary Iranians are being affected the most.

‘All Oman ports open to Iran ships’

Restrictions on Iranian vessels travelling to Oman have been removed after Tehran sought proper permission.

Iran to sell 3mn barrels more of its crude on Energy Exchange

Irans highest oil official says the third offering could take place "as early as next week" after one million barrels were sold in October and November dealings.

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Swiss companies refuse Iran trade out of fear of US retaliation

Iran-Switzerland Joint Chamber of Commerce President, Sharif Nezam-Mafi says US sanctions have hindered the flow of vital medicine into the country, leading to a shortage of much-needed cancer drugs, especially for kids. He says Swiss companies do not deal with Iran out of fear of retaliatory US measures.

Chinese company develops Iran’s Abadan refinery

Although Chinese state-controlled oil company has been reportedly foreced to cease operations at the largest natural gas reserve in the Persian Gulf, another Chinese company is still operating in Iran.

Iran unveils upbeat budget despite US sanctions

The bill defies unilateral US sanctions and goes against forecasts the economy will shrink next year.

‘Swiss payment channel with Iran could be in place by mid-January’

European countries have been trying to create a legal financial mechanism to keep up trade with Iran after Donald Trump Administration withdrew the US from the 2015 nuclear deal in May.

Foreign companies eye Iran crude on Energy Exchange

After Washington unilaterally walked away from the 2015 nuclear deal signed with Iran, Europe, Russia and China, Tehran moved to cushion the consequences of renewed economic sanctions on its vital oil sector.

Global traders halt new Iran food deals following US sanctions

Although the US Treasury says humanitarian goods like food and medicne have been exempted from the renewed economic sanctions on Iran, a Reuters study has found out that blocked banking channels have stopped imported food supply into the country.

Iran private sector urges Tehran-Ankara barter trade

Iran Chamber of Commerce President has urged Tehran and Ankara to set up barter trade to further expand bilateral economic relations.