Tag Archives: Fars News Agency

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’s Minister of Energy announced that the formalities for a €1.2-billion loan were exchanged between finance ministries of his country and Russia. adding that Tehran will use the money for constructing a major electricity project South of Iran.

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).

An ideological affiliate of India’s governing has now come out and advised Prime Minister Narendra Modi to reconsider New Delhi’s decision. to ignore US demands not to purchase oil from Iran as it would represent a strategic setback for India.

Iran’s Minister of Industry Reza Rahmani announced that his country is planning to lower the imports of machinery and equipment used in major production lines. in a bid to further indigenize manufacturing capabilities in the face of the US sanctions.

The Supreme Council of Economic Coordination decided to extend the authority of the Central Bank of Iran (CBI) for managing the exchange market for the purpose of stability in the foreign currency market.

Iranian Interior Minister Abdolreza Rahmani Fazli criticized the European countries for not following through with their economic commitments to Tehran.

The Plan and Budget Organization of Iran (PBO) announced that the country’s non-oil exports. including petrochemicals and condensates. exceeded $44 billion in the year ending March 2019. posting a 5.9% rise in comparison with figures from 2013.

Reza Ardakanian said that his country’s membership in the Eurasian Economic Union (EAEU) has brought in many advantage for Tehran. including tariff exemptions on 850 items of goods.