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EU lifts sanctions on a number of Iranian companies

The EU’s General Court in Luxemburg lifted the sanctions imposed on seven Iranian companies by the US, ruling that there wasn’t sufficient evidence to justify the embargoes. The move has drawn the ire of the United States government, who have

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Iran unable to access about 44% of its crude oil income

According to The Associated Press, the newly imposed sanctions on Iran have made it difficult for Iran to access billions of dollars in vital oil revenues, as the revenues are accumulated in accounts overseas, where Iran’s access is restricted as

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Iran to export oil to North Korea

Iran is considering signing an oil deal with North Korea on the export of oil in an attempt to revive its economy shattered by the tough sanctions from the West A delegation from North Korea’s oil ministry is currently visiting

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Iran turns to its car industry to make up for its losses from the sanctions

Seems like Iran is not threatened by the sanctions that have crippled its oil industry, as the country is looking for other alternative sectors to revive its economy. Iran is now turning to its automotive industry to make up for

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Afghanistan continues Iran oil purchase despite pressure from the US

Afghanistan says it will continue to purchase oil from Iran, Afghanistan’s main oil importer. The US Department of State has banned Afghanistan along with many other countries from buying Iran’s crude oil, in attempt to pressure Iranian government to halt

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Iran-Afghanistan to build oil pipeline

According to Iran’s news agency of Press TV, the Iranian deputy oil minister said Iran and Afghanistan have agreed to build a pipeline to help facilitate the exports of Iran’s oil products to its eastern neighbor. Ali Reza Zeighami, managing

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Iran turning to Central Asia for markets

Iran’s President Mahmoud Ahmadinejad is not missing a single opportunity to talk about growing trade ties with Central Asia At one gathering in Azerbaijan, he reminded the president of Kazakhstan about the vision of a railway linking the heart of

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Afghan government must adopt a clear policy to solve the problem of Afghan traders

If the terms set forth by America, demanding the Afghan businessmen to cut ties with Iranian companies and banks, Afghanistan will be faced with various economic issues. Afghanistan Chamber of Commerce and Industries (ACCI) says that a clear economic policy

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Iran in search to increase oil exports

European Union will make its ban on oil purchases from Iran fully operational on the 1st  July. July deadline for a boycott of European countries has been coordinated with other measures across the world. The United States of America will

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US exempts Japan and EU nations from Iran oil sanctions

The US government will not impose sanctions on Japan and 10 European Union nations that have reduced their oil imports from Iran. Ordered by Congress in December, the sanctions aim to punish countries that continue to buy oil from Iran.

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