Economy

Iran’s oil minister says the country has rendered the US-led Western sanctions on gas condensates exports completely ineffective.

China's ambassador to the Islamic Republic of Iran says that Chinese companies are willing to invest in various projects in Iran and to that end, seek a stable environment for investment.

Iran’s deputy foreign minister for economic diplomacy says Saudi Arabia is keen on boosting economic cooperation with Iran, adding a joint commission will be held within three months.

The Iran-China dual-load freight train was officially inaugurated at the Aprin Rail Dry Port near Tehran.

The Deputy for International Affairs at the Central Bank of Iran (CBI) detailed the monetary agreement between Iran and Russia aimed at achieving de-dollarization, stating that this move pushes the Iranian Rial towards being unsanctionable.

Iran’s Central Bank governor says from late August, Iranians can withdraw money from Russian ATMs with Iranian bank cards.

Iran’s national currency, the rial, is still in the doldrums having lost considerable value since last year – but it regained some lost ground at market open on Saturday. It comes after Reformist candidate Masoud Pezeshkian won Iran's presidential election, securing 53.3% of the votes and defeating his principlist rival Saeed Jalili

In a forward-looking proposal, Governor of the Central Bank of Iran Mohammad Reza Farzin suggested the establishment of an institution akin to the Financial Action Task Force (FATF) among BRICS nations.

In a recent statement, Ali Akbar Salehi, Iran's former Head of the Atomic Energy Organization, emphasized that whoever assumes the Iranian presidency will certainly have to seek the advice of experts on Iran's decision to join the Financial Action Task Force (FATF). 

Iranian President Ebrahim Raisi says the deep historical, cultural and religious relations between Iran and the neighboring Republic of Azerbaijan are unbreakable.

The Qiz Qalasi dam on the Aras River in northwestern Iran, tipped as the most important water project for Iran and the neighboring Republic of Azerbaijan, became operational on Sunday.

Iran’s minister of finance and economy says the exports by the country’s knowledge-based firms hit the $2.5bn mark last year on the Iranian calendar that ended on March 20, 2024.

The head of Iran's Chamber of Commerce says the trade volume between Iran and China is currently 30 billion dollars but the two countries have the potential to increase the figure to 50 billion dollars per year.

Iran’s Ham-Mihan newspaper says the country has experienced its highest inflation in 80 years during the administration of President Ebrahim Raisi’s tenure.

The former deputy of the Arvnad Free Zone in southern Iran has been reportedly detained in on corruption charges.

Iran’s Minister of Industries, Mines and Commerce Abbas Aliabadi says Iran has turned into a regional trade and industrial hub despite the Western sanctions.

Iranian President Ebrahim Raisi says Western efforts to isolate Iran have failed as the country has resorted to its natural wealth and human resources to make the punitive measures fizzle out.

Iran and Pakistan are set to deepen their strategic ties by setting a 10-billion-dollar objective in their trade exchange and investment, IRNA news agency reported.

Tehran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost, the Financial Times has reported.

Iran has renewed a contract with Iraq to export gas to its western neighbor for five more years.

The Iranian economic and financial affairs minister says the country experienced a growth rate of over 6 percent in economy during the past year.

The Taliban administration in Afghanistan has invested 35 million dollars in Iran’s southeastern port city of Chabahar on commercial, residential and administrative projects, the Iranian special envoy to Kabul announced.

The International Monetary Fund (IMF) has revised up its previous economic growth projection for Iran in 2023, attributing it to a higher-than-expected increase in Tehran’s oil output.

Iran’s ambassador to Moscow says a major Russian economic delegation is heading to Iran.

Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.