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Iran sees its first sanctions removal since the nuclear agreement

The European Union has lifted sanctions on two Iran oil companies which are part of a group involved in extracting natural gas from Iran’s South Pars field. This is the first such action since Iran reached a nuclear agreement with

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Iran’s nuclear deal expected to be fruitful for the region

Iran and world powers reached a historic accord over Tehran’s nuclear program. The resolution authorizes the lifting of sanctions in exchange for Iran curbing sensitive nuclear activities. Lifting of the sanctions will not only revive Iran’s economy but will also

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Iran-5+1 accord to have a positive impact on Afghanistan’s economy

The Afghan Chamber of Commerce and Industries (ACCI) said that the nuclear deal  between Iran and six world powers would have a positive impact on Afghanistan’s economy. Iran agreed to curb some of its nuclear power activities in return for

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Iran-5+1 accord to have a positive impact on Afghanistan's economy

The Afghan Chamber of Commerce and Industries (ACCI) said that the nuclear deal  between Iran and six world powers would have a positive impact on Afghanistan’s economy. Iran agreed to curb some of its nuclear power activities in return for

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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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Iranians suffering from the sanctions, while the nuclear program is speeding up

Iranians are facing a medical crisis amid tightening sanctions from the US and its allies. Iranian pharmacies are running out of life-saving medicines.  “We are running low on every kind of medicine,” said an Iranian pharmacist, Dr. Kheirollah Gholami.  The

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Afghanistan to further strengthen cooperation with Iran despite the US sanctions

Attaching great importance to Kabul’s ties with Iran, a senior Afghan Foreign Ministry official said in a press conference in Kabul that Afghanistan will continue its relations with the neighboring country despite the US sanctions. Ministry’s Spokesman Janan Mosazai said

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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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Fuel to Afghan forces may have violated Iran sanctions

Amid speculations that the US funds could have been used for fuel purchases from Iran, US Special Inspector General for Afghanistan Reconstruction urged the Pentagon to enhance oversight of how US money is being spent. According to General John Sopko,

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Illegal outflow of money from Afghanistan affecting the currency

Da Afghanistan Bank Head Noorullah Delawari linked the recent depreciation of Afghani currency to the illegal outflow of foreign currency from Afghanistan crystallized by external factors including the US sanctions against Iran and the resultant pressure on the riyal. Mr.

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Tehran bans imports of luxury items

Sanction-hit Iran has announced a ban on imports of luxury items-ranging from high-end cars to coffee to toilet paper. Tehran has taken this move to control the flow of money outside the country and to promote domestic products. The increasing

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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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Foreign currency transferred from Herat to Iran

Officials of the Money Exchangers Union in Herat said that foreign currencies are transferred to Iran from Herat in various vehicles. Following sanctions against Iran and drastic decline of Iranian currency against foreign currencies, Herat province is facing a shortage

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Iran Rial has lost 1/3 of its value

Protesters took it to the streets, expressing their angers at the plunging of the Rial currency. Foreign exchange dealers, some with license and some without, were lined up on the two sides of the roads. Iranian riot police officers clashed

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Cutting trade ties with Iran will have adverse effect on Afghanistan-ACCI

Deputy Head of Afghanistan Chamber of Commerce and Industries (ACCI) expressed his concerns about the negative impacts of joining Washington in cutting trade ties with Iranian firms. The US has imposed economic sanctions against Iran, in an attempt to force

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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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Sanctions on Iran regime, brunt on ordinary Iranians

The sanctions imposed on Iran by the West, aimed at punishing the Iranian regime for not complying with international rules over nuclear programs, have resulted in putting the lives of many ordinary people in Iran in danger. Many people including

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UAE opens a key pipeline bypassing Strait of Hormuz oil route

The United Arab Emirates has opened a 370km pipeline which bypasses the Strait of Hormuz, carrying oil from UAE’s western desert to a major oil storage hug on the east coast. The new pipeline would increase UAE oil exports by

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Life in Iran–on-nuclear families

IT WAS the first time in 15 months that Iranian envoys had met the five permanent members of the UN Security Council plus Germany. Their talks in Istanbul on April 14th were cordial, though the sole agreement was to carry

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India and Qatar ink oil and gas pact amid Iran pressure

India and Qatar have signed a pact to increase cooperation in the field of oil and gas exploration. The deal comes as India looks for more sources of oil and gas to meet its growing energy demands. India has also

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Iran crisis: US to apply fresh oil sanctions

US President Barack Obama has approved the introduction of fresh sanctions on buyers of Iranian oil. In a statement, Mr Obama said US allies boycotting Iranian oil would not suffer negative consequences because there was enough oil in the world

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Oil Price Spike—a Threat to the Global Economic Recovery

Analysts and policymakers are worried as oil price has gone up by 15% in 2012. The two main factors behind this are the unrest in the Middle East and the sanctions imposed against Iran. Christine Lagarde, managing director of the

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