Iran Economy News

S.Korea GS E&C says scraps $1.2 bln Iran gas deal

Reuters: South Korea's GS Engineering & Construction (GS E&C) said on Thursday that it has called off a 1.42 trillion won ($1.2 billion) gas...

Iran lifts restriction on foreign investment in banks

Bloomberg: Iran lifted a cap on the percentage of shares in Iranian banks that can be owned by a foreign individual or company, the...

Iran sees no risk to gasoline imports, official says

Reuters: Iran sees no risks to its gasoline imports, an oil official said on Tuesday, a day after France's Total joined the list of...

Russia’s Gazprom Neft eyes Iran, Cuba oil projects

Reuters: Gazprom Neft, the oil arm of Russian energy firm Gazprom, is looking to expand its foreign operations into oil-rich Cuba and Iran, which...

Oil spill could push up prices – Iran official

Reuters: The Gulf of Mexico oil spill is likely to cause a rise in world oil prices, Iran's OPEC governor, Mohammad Ali Khatibi, said...

Total says it has halted petrol sales to Iran

AFP: French oil group Total said Monday it had halted shipments of oil products to Iran following adoption by the United States of economic...

Spain’s Repsol pulls out of Iran gas project

Reuters: Spain's largest oil company Repsol has pulled out of a contract it won with Royal Dutch Shell to develop part of the South...

Iranian trade with Dubai hit by sanctions, says group

Bloomberg: Trade between Iran and Dubai, a key source of imports for the Islamic Republic, is being squeezed by sanctions over the Persian Gulf...

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Canadian Parliament Approves Proposal to Proscribe Iran’s IRGC

On Wednesday, May 8, members of the Canadian House of Commons unanimously voted to add the IRGC to the...

Iran’s Medical Society is in Crisis

Iraj Fazel, the head of the Surgeons Society and former Minister of Health of the Iranian regime, has warned...

Iran’s Regime Evading Oil Sanctions Through Malaysia

Brian Nelson, the U.S. Department of the Treasury's Under Secretary for Terrorism and Financial Intelligence, sees Iran's increased capacity to transport...

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Iran’s Regime Evading Oil Sanctions Through Malaysia

Brian Nelson, the U.S. Department of the Treasury's Under Secretary for...

Intense Rainfall and Floods Damage Dozens of Cities Across Iran

Heavy rainfall has again led to flooding in dozens...

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France urges Iran to study EU proposals carefully

Reuters: French Foreign Minister Philippe Douste-Blazy urged Iran on...