Tag Archives: Sanctions

The EU Commission and the German government have condemned the United States for imposing sanctions on companies working on a major project to supply Western Europe with Russian gas.

Oil ministers from OPEC and non-OPEC partners during their last meeting in Vienna agreed to cut an extra 503.000 b d from their total production in a bid to help stabilize the oil market.

Iran is currently under sanctions and consequently its oil production has faced with restrictions. But Minister Zangeneh said Iran’s known oil and gas reserves should not be ignored in the mid and long-term.

Shiraz Electronics. an Iranian company. was awarded a contract to manufacture a high-tech device used in the airports to further increase the country’s self-sufficiency and curb Tehran’s reliance on Western companies in the aviation industry.

New figures released by the Iran Customs Administration (IRICA) show that the value of the country’s non-oil exports in the first eight months of the current local calendar year (March 21-Novomber 22) has exceeded the value of imports in the same period.

New figures released by the Iran Customs Administration (IRICA) show that the value of the country’s non-oil exports in the first eight months of the current local calendar year (March 21-Novomber 22) has exceeded the value of imports in the same period.

The German government rejects such extraterritorial sanctions.

Iran’s foreign trade value in the nine months of the current Iranian calendar year at more than $60 billion.

Iran and Russia have already signed the necessary protocol and agreements and the projects are underway.

The U.S. sanctions over the pipeline would affect bilateral relations between Moscow and Washington.