Tag Archives: Sanctions

Iran’s ports south and north of the country are drawing an unprecedented amount of investment from the private sector as authorities eye a jump in onshore manufacturing activities.

Armenian Parliament Speaker Ararat Mirzoyan blasted the US sanctions on Iran and pressures on other states to stop cooperation with the country. saying that his country cannot halt buying gas from Tehran.

The price of oil spiked just minutes after Tehran seized a foreign vessel which was smuggling one million liters of fuel near Larak Island in the Strait of Hormuz off Iran’s coast.

All 23 crew members of the Stena Impero tanker detained by the Iranian authorities in the Strait of Hormuz are on board the vessel in Bandar Abbas.

The rule of reprisal is a recognized concept in international law and it is used in the face of another country’s illegal measures.

The United States withdrew from the Iranian nuclear deal on 8 May 2018 and imposed economic sanctions on Tehran'.s oil exports.

India used to be Iran’s second top oil buyer after China until May when US ended waivers granted to the country for import of oil from Iran.

Iran is exempt from an agreement between major global oil exporters to maintain cuts of 1.2 million bpd until March 2020.

Governor of the Central Bank of Iran Abdolnasser Hemmati said that Tehran is serious to support small and medium-sized enterprises (SMEs). adding that the government will fund SMEs with more than $2.4 billion by March 2020.

Iranian Industry Minister Reza Rahmani said that despite US efforts to cripple Tehran’s economy. year-on-year comparison shows that the country’s domestic production has increased in the first quarter of the local calendar year.