Energy Economy

Iranian President'.s Chief of Staff Mahmoud Vaezi underlined that Tehran will continue boosting cooperation and expansion of relations with Turkey in all aspects without any restrictions.

The drone attacks on the Khurais oilfield and the Abqaiq oil processing facility took an estimated 5.7 million bpd in production capacity off the market.

In modern economics. crude selling of products is regarded as a basic and fundamental weakness.

CBI) said that during the meeting held between Presidents of Iran and Turkey on the same day in Ankara. the two sides focused on expansion of trade and banking ties besides doing monetary transactions via Rial or Lira.

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced Monday the establishment of banking relations between Iran and Russia independent from SWIFT payment system.

The project is expected to be completed in November 2023.

Iranian and Turkish banks are working on a plan to establish a financial channel between the two countries based on national currencies. in a bid to evade US sanctions against Tehran.

The Iranian Mines and Mining Industries Development and Renovation announced that the country exported 633.050 tons of steel in the last local calendar month which shows a 37% jump in comparison with figures from corresponding period in the last year.

Iran has posted a more-than-$1-billion foreign trade surplus for the 1-year period ending August 20. according to the data released by the country’s Customs Administration (IRICA).

Abqaiq. in the kingdom’s eastern province. is the world’s largest oil processing facility.