Entries by Forouzan Mahmoudi

OFAC reaches settlement with U.S. company resolving Iranian sanctions violations

OFAC reaches settlement with U.S. company resolving Iranian sanctions violations On February 21, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $506,250 settlement with a Connecticut-based company for five alleged violations of the Iranian Transactions and Sanctions Regulations (ITSR). The settlement resolves potential civil liability for the company’s alleged transactions valued at over $14 million […]

June 19, 2019 by

How US sanctions could be boosting Iran’s presence in Iraq

How US sanctions could be boosting Iran’s presence in Iraq Geopolitical power projection could be, at first sight, the logic underlying Iran’s policy of expanding ties with and playing a role in Iraq. But in recent years, and with the growing necessity arising from the reimposition of US sanctions, Tehran has chosen to also focus on geo-economic interests […]

February 17, 2019 by

Iran, Russia, Turkey Presidents Committed to Progress in Syria

Iran, Russia, Turkey Presidents Committed to Progress in Syria Iran, Russia and Turkey see the planned US withdrawal from Syria as a positive step and are committed to taking further steps to help improve the political and humanitarian situation in the war-torn Arab state, leaders of the three countries said on Thursday after a summit […]

February 16, 2019 by

Iran-Singapore Commercial Committee Established

Iran-Singapore Commercial Committee Established Iran-Singapore Commercial Committee was officially established on Wednesday, the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture for international affairs said. “Our plan for ICCIMA’s International Department is to expand activities and attract enough members over the next six months for the committee to turn into an Iran-Singapore […]

February 13, 2019 by

EU Unveils New Trade Mechanism for Trade with Iran: INSTEX

EU Unveils New Trade Mechanism for Trade with Iran: INSTEX In a joint statement on Thursday, French, German and UK Foreign Ministers announced the establishment of ‘INSTEX’ the long-awaited mechanism created for facilitating trade with Iran. “The E3 together with INSTEX will continue to work on concrete and operational details to define the way the […]

February 3, 2019 by

Iran’s Non-Oil Trade With Eastern Europe Rises to $2.2 Billion

Iran’s Non-Oil Trade With Eastern Europe Rises to $2.2 Billion Iran traded 3.6 million tons of non-oil commodities worth $2.23 billion with the member states of the United Nations’ Eastern European Group during the first nine months of the current fiscal year (March 21-Dec. 21) to register a 29.69% and 33.04% growth in tonnage and […]

January 27, 2019 by

Japan and Importing Iranian Oil

Japan has started process of importing Iranian oil, according to Tehran Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran’s central bank said on Monday. The resumption of oil imports comes after Tokyo was granted a waiver from U.S. sanctions that went into effect in November. Iran is the fourth-largest oil […]

January 27, 2019 by

Turkey resumes oil imports from Iran

Turkey resumes oil imports from Iran TEHRAN, Jan. 08 (MNA) – Turkey has resumed imports of Iranian crude oil after a one-month pause in November when US sanctions on Iran came into force. Turkey is allowed to import 60,000 barrels per day (bpd) under the waiver granted to the country by the United State. According […]

January 27, 2019 by

‘EU’s Channel for Trade with Iran to Become Operational Soon’

‘EU’s Channel for Trade with Iran to Become Operational Soon’ The European Union’s long-awaited mechanism known as the Special Purpose Vehicle (SPV) to keep financial ties with Iran under the US sanctions is set to become operational in the near future, said a spokesperson of the bloc. In an interview with IRNA, the spokesperson said the […]

January 20, 2019 by

Iran’s ECA Reports 62% Growth in Export Guarantees in 9 Months

Iran’s ECA Reports 62% Growth in Export Guarantees in 9 Months EghtesadOnline: The Export Guarantee Fund of Iran, a state-owned export credit agency, issued $1.7 billion worth of guarantees for exporters of non-oil goods in the first nine months of current fiscal that ends in March, up 62% compared to the corresponding period last year, […]

January 16, 2019 by