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October 26 2016
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U.S. House To Vote On Extending Iran Sanctions Law After Elections: Report

- The Reuters news agency is reporting that Republican leaders of the U.S. House plan to vote after the November 8 elections on reauthorizing the Iran Sanctions Act, setting up a potential showdown with the White House. - 10/26/16

EU seeks closer ties with Iran after JCPOA: President Rouhani

- President Hassan Rouhani says the European Union is willing to expand its relations with Iran, especially in the light of the circumstances that has ensued Tehran's nuclear agreement with world powers. Rouhani made the remarks in Tehran on Wednesday during a joint press conference with visiting Finnish President Sauli Niinisto, who is in the Iranian capital at the head of a large business delegation. - 10/26/16

Iranian carpet makers target U.S. with peace message

- Iran's carpet makers are distancing themselves from their government in promoting their handmade work as they seek to regain valuable U.S. sales and protect jobs following the removal of economic sanctions. -Reuters - 10/26/16

Iran, Bosnia sign economic MoU

- Iran and Bosnia and Herzegovina have signed a memorandum of understanding (MoU) on the promotion of business cooperation and mutual investment. The document was signed by the countries' officials in the presence of Iranian President Hassan Rouhani and the visiting chairman of the Presidency of Bosnia and Herzegovina, Bakir Izetbegovic, during a ceremony at Tehran's Sadabad Complex on Tuesday. - 10/25/16

UK lifts sanctions on key Iranian bank

- The British government has announced that it has removed Bank Saderat Iran (BSI) from its list of sanctioned entities. The announcement was made by the UK Treasury which added that the BSI assets had also been unfrozen. - 10/25/16

Envoy hails as 'historic' Finland President's visit to Tehran

- Finnish President Sauli Niinisto, at head of a high-ranking delegation, will visit Tehran in an effort to broaden and deepen ties between Tehran and Helsinki. The delegation consists of a number world-known Finnish companies in different areas such as environment and water resources management, Finnish Ambassador to Tehran Harri Kamarainen told the Tehran Times on Sunday. - 10/24/16

Iran supports measures aimed at stabilizing oil market: President Rouhani

- Iran's President Hassan Rouhani says the Islamic Republic supports any measures aimed at restoring stability to global oil markets. "Iran supports any measure in line with the stabilization of the oil market, fair prices and equitable quota for the producers," Rouhani said in a meeting with visiting Venezuelan President Nicolas Maduro in Tehran on Saturday. - 10/23/16

President Rouhani on Iranophobia: Iran is kinder than what has been said

- President Hassan Rouhani has said Iran wants peaceful coexistence with the countries in the region and the larger world, noting Iran is "kinder" than what has been said. Addressing a ceremony on the National Exports Day on Thursday, Rouhani said Iran's relations with the world should be based on constructive interactions. He noted that expanding relations with the world would not be successful through disputes. - 10/22/16

French firm Total to invest $2B in Iran's petchem industry

- Iran says it expects the French energy giant Total to invest as much as $2 billion in its petrochemical industry. Adel Salimnejad, the managing director of Iran's Persian Gulf Holding Company, told the domestic media that Total's investment will be made in an olefin project. - 10/22/16

Baku wants Iran to develop power plants in Azerbaijan

- Azerbaijan has called on Iran to expedite the implementation of a plan which envisages the joint construction of power plants by the two countries. Etibar Pirverdiyev, the head of Azerenergy JSC which is the largest electrical power producer in Azerbaijan, said the joint construction of new power plants by Azerbaijan and Iran will enhance energy stability and export potential of Nakhchivan Autonomous Republic. - 10/21/16

Iran says talking to 16 firms over oil projects

- Iran says it is negotiating with 16 international energy companies over investing in the exploration and development of oil and gas projects that it recently put out on tender. Gholam-Reza Manouchehri, the deputy head of National Iranian Oil Company (NIOC) for engineering and development affairs, told reporters that all the projects which were put out on tender earlier this week are feasible even with oil at $40 a barrel. - 10/20/16

Britain's Vodafone Enters Iranian Phone Market

- Vodafone and HiWEB, a leading Iranian ISP, today jointly announced a new non-equity Partner Market agreement for Iran. Vodafone will assist HiWEB in rolling out and modernising network and IT infrastructure, expanding the fixed and mobile internet services - under the HiWEB brand - that HiWEB can offer to its Iranian consumer and corporate customers. - 10/19/16

Iran CAPA Aviation Summit - hope turns to frustration, but optimism remains as growth abounds

- When CAPA - Centre for Aviation held its first conference in Iran at the end of Jan-2016 the atmosphere was primarily one of optimism. Immediately preceding the conference the expectation was that Iran and the West would move to rapidly reverse decades of estrangement. The first round of sanctions against Iran had come down - in line with the historic 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear agreement reached between Iran and the '5+1' powers - and major airlines and aircraft manufacturers were coming to the table. -CAPA - 10/19/16

NIAC Welcomes European Parliament's Report on Diplomatic Engagement of Iran

- The National Iranian American Council released the following statement on the report from the European Parliament's Committee on Foreign Affairs on EU strategy toward Iran in the wake of the nuclear deal: "The successful nuclear negotiations with Iran were a game changer and Europe is poised to make the most of the opportunity while the U.S. risks being stuck on the sidelines... - 10/18/16

Iran exporting 25 radiopharmaceuticals: Nuclear Chief

- Iran's atomic energy chief said in comments on Tuesday the country produces and exports 25 radiopharmaceuticals (a radioactive compound used for diagnostic or therapeutic purposes) to Asian and European countries. "Currently, 25 radiopharmaceuticals are produced inside the country and exported to countries of Iraq, Egypt, and Germany," Ali Akbar Salehi told the press on the sidelines of the 10th national talent seminar. - 10/18/16

Iran tells banks dollar deals allowed by U.S. Treasury

- The Central Bank of Iran (CBI) in an announcement has told the banks across the country that any failure by non-American banks to provide dollar-related services to Iranians is "unacceptable" in light of the US Treasury's recent update on doing business with Iran. - 10/17/16

Iranian woman entrepreneur Soheila Pirmoradian to receive EBC*L Prize

- Iranian businesswoman Soheila Pirmoradian is amongst selectees who will be honored with European Business Competence* License) EBC*L Women Entrepreneur Awards, during a ceremony scheduled to be held in Paris on November 3. - 10/16/16

Iran Kicks Off Tender To Develop Oil, Gas Projects

- Iran says it will begin taking applications on October 17 for an unspecified number of oil and natural gas projects, as the country hopes to attract foreign investors back to its energy sector after years of sanctions. - 10/16/16

Iran's Fatemeh Moqimi nominated for Asia-Pacific Women Entrepreneur Award

- Iranian female entrepreneur Fatemeh Moqimi has been nominated for the Asia-Pacific Women Entrepreneur Award. Moqimi, who also holds a seat at Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), was chosen by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) Women Entrepreneurs Council (CWEC) to vie with other nominees for the award - 10/15/16

Iran's oil output at 3.6 mb/d: OPEC

- The Organization of the Petroleum Exporting Countries (OPEC) says Iran's oil production has reached a new record high of 3.665 million barrels per day (mb/d). OPEC in a monthly report said it had recorded Iran's new oil production capacity for September. - 10/15/16

Iran Is Stuck With China to Finance Its Oil Dreams

- Amid the snake-infested marshlands on Iran's border with Iraq, the control room monitoring North Azadegan oil field is manned entirely by Chinese technicians. In central Tehran, hundreds of Chinese pour out at noon from the telecommunications company Huawei to its canteen. There are now so many Chinese expatriates here, some say they outnumber all other nationalities combined. -MarcChampion, Bloomberg - 10/14/16

MTN Group invests in Iranian taxi-hailing app

- MTN Group, the mobile network operator with $1bn stuck in Iran, has agreed to invest $22m in, the Islamic Republic's first taxi-hailing smartphone application. The funds "will allow us to quickly expand to other cities" than Tehran, Snapp CEO Shahram Shahkar said on Tuesday. -BDlive - 10/12/16

U.S. Treasury Seeks To Reassure Banks Wary Of Dealing With Iran

- The U.S. Treasury is seeking to reassure banks that have been unwilling to do business with Iran, but Tehran says the effort has not gone far enough. New guidance issued over the weekend after months of complaints from Tehran clarifies that non-U.S. banks can do business with Iran in U.S. dollars, provided those transactions don't pass through financial institutions in the United States. - 10/11/16

Iran's RighTel confirms roaming deal with AT&T

- A major Iranian telecommunications operator has confirmed that it has an international roaming service deal with America's AT&T. Majid Sadri, the managing director of RighTel, was quoted by Iranian media as saying that his company has already been able to establish roaming services with 123 operators in 87 countries. They, as the company says on its website, include the US. - 10/10/16

Iran seeks stronger China ties after nuclear deal

- Iranian President Hassan Rouhani said on Sunday that Iran is willing to use the opportunities created after the nuclear deal to expand ties with China. During a meeting with Vice President of China Li Yuanchao in Bangkok, Rouhani highlighted the importance of expanding banking relations between the two countries. - 10/10/16

U.S. Political Debate Said To Cast Shadow Over Iranian Nuclear Deal

- The landmark nuclear agreement between Iran and world powers remains "fragile" in part because it has become a focus of dispute in the U.S. presidential election, the head of the United Nations agency that polices the deal said. - 10/9/16

President Rouhani visits Kuala Lumpur: Iran, Malaysia agree to deepen ties

- President Hassan Rouhani said on Friday that Iran and Malaysia reaffirmed to strengthen ties and restore economic transactions to the pre-sanctions time. During a joint press conference with Malaysian Prime Minister Datuk Seri Najib Razak in Kuala Lumpur, Rouhani said, "We stressed that 2016 should be the year of expanding relations in political, cultural, scientific and economic areas." - 10/9/16

U.S. Treasury Says New Guidelines Clarify Ongoing Sanctions Against Iran

- The U.S. Treasury Department said on October 8 that an update to its regulations that was published late on October 7 merely clarifies what is and is not allowed since last year's landmark nuclear deal gave Iran billions of dollars in sanctions relief in exchange for limits on its atomic program. - 10/9/16

Sign of Thaw With Iran: American Cellphones Ringing in Tehran

- Until recently, an American phone in Iran would not receive any signal. But that has quietly changed. This past week, a spokesman for AT&T acknowledged that the company was providing voice and data service in Iran to its customers with American phones through a partnership with a local firm, RighTel. An employee at the Iranian company, fully owned by a state entity, confirmed the partnership. -Thomas Erdbrink, NY Times - 10/9/16

Iran's pistachio exports expected to top 136,000 tons

- Iran is projected to export over 136,000 tons of pistachios in the year to March 2017, said a member of Iran's Pistachio Association (IPA). "The IPA estimated in its June meeting that annual pistachio production will reach 170,000 tons, of which about 80 percent will be exported," Farhad Agah told Iran Daily. China is the main importer of Iranian pistachios while the other buyers of the nut include the Commonwealth of Independent States (CIS), the EU, India and some Arab states. - 10/7/16

Trade in focus as Iran's President Rouhani starts Asia visit

- President Hassan Rouhani, on a key visit to Asia, says Iran and Vietnam have decided to increase bilateral trade volume fivefold to over $2 billion per year. Rouhani made the remarks in a joint press conference with his Vietnamese counterpart Tran Dai Quang in the capital Hanoi on Thursday. - 10/6/16

Tax exemption to incentivize tourism investment in Iran

- Iran will grant years of tax exemption to both domestic and foreign businesses and individuals as an incentive for ramping up investments in its tourism sector, Deputy Economy Minister Mohammad Khazaei said on Sunday. - 10/5/16

Iran Agrees On New Model Energy Contract, Hopes To Boost Foreign Investment

- Iran's state oil producer, National Iranian Oil Co. (NIOC), has signed a new model investment contract with an Iranian firm. The contract with the Persia Oil and Gas Industry Development Company is seen as a template for contracts that Tehran hopes will attract foreign investors back to Iran's oil and natural gas sectors and boost production after years of economic sanctions. - 10/5/16

Iranian Ad Exchange Adro Reaches 50 Billion Impressions

- The one year old Iranian Ad-exchange Adro has set a new record in Iran's AdTech scene by reaching 50 Billion ad impression. Iran's AdTech scene was completely revolutionized since the arrival of its first ad exchange Adro. By connecting to almost all the major ad network players in Iran, Adro managed to increase Iran's market cap in online advertisement. -Alireza Jozi, Techrasa - 10/5/16

IMF Says Iran Economy 'Rebounded Strongly' Following Lifting Of Sanctions

- In a statement issued on October 3 after a visit to Iran, IMF staff said oil production and exports "rebounded quickly" to presanction levels, as an array of international sanctions targeting Iran were lifted in January following a nuclear deal with world powers that curbed the country's controversial nuclear program. Meanwhile, "increased activity" in agriculture, car production, trade, and transport services has led the recovery in growth in the non-oil sector. - 10/4/16

Zinat Daryaee: The Great Entrepreneur of Qeshm Island

- Walking at a pavilion near Goftegoo Park in western Tehran, the music of natives from southern Iran attracts all the visitors. The largest pavilion of Qeshm Island, part of Hormozgan Province, is run by a female entrepreneur, Zinat Daryaee. Zinat Daryaee, whose name means adornment of the sea, is really a jewel in the heart of Qeshm Island in the Persian Gulf. - 10/4/16

Iran's oil exports hit pre-sanctions high

- Reports say Iran has already been able to increase its oil exports to levels that existed before sanctions were imposed on the country in 2011. Reuters in a report on Monday quoted unnamed oil market sources as saying that Iran's total crude oil and condensate sales likely reached around 2.8 million barrels per day (bpd) in September. - 10/4/16

Iran's Rohani Pushes For OPEC Action With Russia To Raise Oil Prices

- Iranian President Hassan Rohani told his Venezuelan counterpart that it is essential for oil-producing countries to take collective action to raise oil prices, Iranian news agencies reported on October 3. Iran and Venezuela are both members of the Organization of Petroleum Exporting Countries (OPEC), which agreed at an informal meeting in Algeria last week on modest oil output cuts in the first such deal since 2008. - 10/4/16

Germany to press US to effectively lift Iran sanctions: Vice chancellor

- Germany has promised to exercise pressure on the United States to act on its commitment of "effectively" removing sanctions against Iran. Germany wanted to "remind the United States of the commitment to get to an effective dismantling of sanctions," German Vice Chancellor and Economy Minister Sigmar Gabriel said at the opening of an economic forum in Tehran on Monday, October 3, 2016. - 10/3/16

Oil firms present proposals for Iran projects

- Iran's media say the country has received the first wave of proposals by major international companies to develop oil and gas projects within the new format of oil contracts recently approved by the administration of President Hassan Rouhani. - 10/3/16

Iran has sold 32 tons of heavy water to US: Nuclear Chief

- The head of the Atomic Energy Organization of Iran (AEOI) says the Islamic Republic has sold 32 tons of heavy water to the United States and delivered 38 tons of the nuclear substance to Russia. "European firms, including German and French ones, seek to purchase Iran's heavy water and we have expressed our readiness in this regard," Ali Akbar Salehi told reporters on Sunday. - 10/2/16

Iran, France Ink Agreement Over "L-90" Auto Joint Venture

- Iran's Industrial Development and Renovation Organization (IDRO) and French car maker Renault here on Sunday evening signed an agreement to launch the first phase of a platform to produce a new automobile in Iran. - 10/1/16

With civilian drone competition, Iran battles against brain drain

- At a manicured technology park outside Tehran, drone builders vied for prize money. But the contest also sought to provide team members with hope for a future in Iran. -Scott Peterson, CSM - 9/30/16

OPEC Agreement Overcomes Saudi-Iran Rift, Spurs Rally On Global Markets

- OPEC's agreement to mend an internal rift between Saudi Arabia and Iran and curb production surprised global markets and sparked powerful rallies from Wall Street to Hong Kong. Oil analysts said the deal was a major breakthrough as it included a major concession by Saudi Arabia to let Iran keep increasing its production to levels that prevailed before international sanctions. - 9/29/16

Foreign tourist visits fetches Iran $24B in 3.5 years: Official

- Some $24 billion came into Iran over the past three and a half years because of foreign tourists, the deputy director of Iran's Cultural Heritage, Tourism, and Handicrafts Organization (CHTHO), Morteza Rahmani-Movahhed, said on Monday. More than 16 million foreign tourists have visited the country during the mentioned period, ISNA quoted him as saying. Each traveler has, therefore, spent $1,500 on average in the country, Rahmani-Movahhed explained. - 9/29/16

Austria's OeKB raises Iran export financing

- OeKB's export insurance cover for exports to Iran has increased to 1 billion euros from 280 million euros. The Central Bank of the Islamic Republic of Iran (CBI) says Austrian export credit agency OeKB has raised its cover for Iran transactions to 1 billion euros - 9/29/16

Oil Prices Plunge As Saudi-Iran Split On Output Freeze Resurfaces

- Oil prices plunged anew as signs of discord reemerged between Iran and Saudi Arabia over an oil production freeze being pushed by the Saudis and Russia. At a meeting of the OPEC oil cartel in Algeria on September 27, Iran rejected an offer by the Saudis to cut their oil production if Tehran agreed to freeze its output at its current level of 3.6 million barrels a day, OPEC officials said. - 9/28/16

Australia hails 'dawn of new age' in Iran ties

- Iran and Australia have signed fresh agreements to forge closer ties, with Austrian Trade Minister Steve Ciobo announcing the dawn of a new age of relationship. Ciobo is leading a trade delegation of more than 20 companies to Tehran, seeking out opportunities, buoyed by the prospects in Iran's mining, oil and gas, and other industries as well as the near 80 million population. - 9/28/16

Iran's gas exports up 3.4% in first half of 2016

- Iran's gas exports reached near 4 billion cubic meters in the first six months of the current Iranian calendar year (March 20-September 21), registering a 3.4 percent rise compared to the same period in the preceding year, Shana quoted a gas official as saying on Tuesday. - 9/28/16

Tehran on Mastercard's top ten fastest growing destinations list

- Tehran comes ninth among the top ten fastest growing destination cities, according to the annual Mastercard Global Destinations Cities Index report which released on September 22. The bustling yet historical Iranian capital has witnessed a growth of 12.98 percent in terms of the international overnight visitor arrivals - 9/27/16

Iran, Japan seal deal to fund petrochemical plans

- Iran says Japan has agreed to fund the development of some of its petrochemical projects - a groundbreaking move that could open the way for similar funding mechanisms for other sectors in the future. - 9/27/16

Opposition against Genetically Modified Organism (GMO) gains momentum in Iran

- Iran is seeing its most vociferous outcry yet over the use of genetically-modified ingredients in food production. Opponents of food products with GMOs have recently elicited fatwas from top clerics, declaring commercial sale and cultivation of genetically-altered crops "not permitted." - 9/26/16

Iran's first online census gets into high gear

- Iranians have begun taking part in the country's first national online census, with one official saying general response on the first day was "unprecedented". Ashkan Shabbak, head of the supervisory committee on the census, told IRNA news agency on Sunday that he expected 35% of Iranians to fill out online version of the survey. Those who do not use the Internet will be surveyed in October. - 9/26/16

Iran to dispatch 3,500 skilled manpower to Ireland: Deputy Minister

- Deputy Minister of Cooperatives, Labor and Social Welfare Mohammad Amin Sazegarnejad said on Saturday that somer 3,500 Iranian skilled manpower in the fields of Hoteliering and culinary will be dispatched to the Republic of Ireland. Iran and Ireland have signed a memorandum of understanding to that effect. - 9/26/16

​Iran introduces own credit cards

- Iran has introduced credit cards for the first time in what appears to be a plan to encourage spending by the public. The credit cards will be presented to applicants with three limits of Rials 100 million ($3,000), Rials 300 million ($10,000) and Rials 500 million ($15,000). They can be used for purchases in shops or online, the media reported. - 9/26/16

US vows to change course on JCPOA: Iran's President Rouhani

- Speaking to reporters upon his arrival in Tehran from New York on Friday, Rouhani added that the ministerial meeting of a commission established to monitor the implementation of the Joint Comprehensive Plan of Action (JCPOA) confirmed that the US is not complying with the nuclear agreement. "The Joint Commission verified the Islamic Republic of Iran's stance and did not see the US conduct as consistent with the JCPOA," the Iranian president said. - 9/24/16

Saudis offer oil production cut deal if Iran freezes output

- Saudi Arabia has reportedly announced that it is ready to reduce its oil production provided that Iran agrees to cap its own output over the remaining months to the end of 2016. Reuters has quoted unnamed sources as saying that the Saudi offer, which is yet to be accepted or rejected, was presented to Tehran earlier this month. - 9/24/16

Apple iPhone Has A One Billion Dollar Market in Iran

- There are 5M to 6M iPhones in Iran. With the recent report from the Iranian officials, 100 thousand new smuggled iPhones get activated in the country each month. That's about 1.2M new iPhones being imported illegally into the country each year which is a one Billion dollar market in Iran. -Techrasa - 9/24/16

Iran's President Rouhani Urges Implementation of Nuclear Deal at UN

- Iran's President Hassan Rouhani used his speech at the U.N. General Assembly to urge the United States to step up implementation of the landmark nuclear deal and to rebuke Saudi Arabia for its actions in the region. "The lack of compliance with the JCPOA on the part of the United States in the past several months represents a flawed approach that should be rectified forthwith," Rouhani told the annual gathering of leaders - 9/23/16

​Iran, Japan to devise economic roadmap

- Iran says it is ready to work with Japan on devising a 10-year roadmap to expand economic relations between the two countries. The announcement was made by Iran's President Hassan Rouhani during his meeting with Japan's Prime Minister Shinzo Abe on the sidelines of UN General Assembly in New York. - 9/23/16

Iran says purchases from Boeing 'easier'

- Iran says it expects the proceedings to purchase planes from US aviation giant Boeing to proceed faster than those with Airbus. "Negotiations with Boeing started much longer [after Airbus] but it appears they will lead to success sooner," said Asghar Fakhriyeh Kashan, Iran's deputy minister of roads and urban development. - 9/23/16

With Boeing Deal, Americans Are Coming to Iran

- Long before the first newly purchased Boeing airliner lands at Imam Khomeini International Airport, Iran and the United States will have had to come to terms with a new reality: American citizens will once again be taking up residence in Tehran, the first to do so since the Islamic Revolution and subsequent hostage crisis in 1979 and 1980. -Thomas Erdbrink, New York Times - 9/23/16

Airbus, Boeing Get U.S. Approval To Sell Planes To Iran

- The U.S. Treasury Department has granted licenses to Airbus and Boeing to sell jet planes to Iran in multibillion-dollar deals. - 9/22/16

Mark Kirk's Surprising Disinterest In Boeing's Iran Sales

- Sen. Mark Kirk (R-IL) opposes pretty much anything that might take the pressure off Iran. He called Obama the "drug dealer in chief" for delivering $400 million in cash to the Islamic Republic as part of a settlement for money owed to Iran since 1979. He has gone so far as to say that "it's okay to take food out of the mouths" of the Iranian people to punish their government for its behavior. -Eli Clifton - 9/21/16

President Rouhani visits Havana, urges enhanced Iran-Cuba trade ties

- Iranian President Hassan Rouhani has stressed the need for the promotion of all-out relations between the Islamic Republic and Cuba, particularly trade ties, following a landmark nuclear agreement between Iran and six world powers. Rouhani arrived in Havana on Monday September 19, 2016 and was officially welcomed by President Raul Castro - 9/20/16

Iran's exports to EU rise despite hurdles

- Official figures show Iran's non-oil exports to Europe are increasing in what is interpreted as a sign of growing interest of European consumers in Iranian products. Figures released by Iran's Customs Administration show that the value of the country's non-oil exports to Europe stood at $643 million over a period of five months starting March 20, 2016. - 9/20/16

First Boeing Jet Joins Iran's Naft Airline: Report

- Iranian Naft Airlines, a homebound charter airline providing passenger and cargo services to Iran's Ministry of Petroleum, says it has received the first Boeing jet. The aircraft, one of the four Boeing 737 single-aisle jetliners bought from the US aviation company, was delivered to Naft Airlines on Sunday - 9/20/16

Iran urges U.S. to unblock aircraft deals, seeks investors

- Iran urged the United States on Sunday to remove remaining obstacles to buying passenger planes following the lifting of international sanctions and it spread out the welcome mat to foreign investors as it seeks to boost its aviation sector. -Reuters - 9/19/16

Iran's largest aviation event opens in Tehran

- Airline companies from around the world are attending a major conference in Tehran, scoping out what many believe is set to be a promising market. The two-day CAPA Iran Aviation Finance Summit opened at Novotel Imam Khomeini International Airport on Sunday with the participation of business leaders and representatives of 150 aviation companies such as Airbus, Bombardier and Embraer. - 9/18/16

12 Organizations Write Congress on Potential Iran Sanctions Act Debate

- Washington, DC - A dozen national organizations that have supported the Joint Comprehensive Plan of Action (JCPOA) delivered a letter to Congress today outlining key considerations for any potential debate over legislation to extend the Iran Sanctions Act of 1996 (ISA), which is set to expire at the end of the year. - 9/17/16

Iran parliament endorses new oil contract

- Iran's parliament has given the go-ahead to the government to put a new oil contract model into effect, the Ministry of Petroleum's Shana news agency reported on Saturday. The new formula, which has drawn criticism from some politicians and experts, was reviewed by a parliamentary panel but not voted by lawmakers. - 9/17/16

Flowers for Ahmadinejad

- The Office of Foreign Assets Control ("OFAC") today fined a company a whopping $4,320,000 for selling things to Iran. Oh wow, you say, this must have been some really bad stuff like, say, high-powered computers or drones, right? Yep, really dangerous stuff -- flower seeds. As in, the things you bury in your backyard and hope sprout up as zinnias. -Export Law Blog - 9/16/16

Iranian MP backs FATF deal, calls it a banking must

- The opponents say if Iran becomes a member of the FATF, then it should consider restrictions for some organizations, including the IRGC-controlled Khatam al-Anbiya construction company, as long as they are backlisted by the U.S. There are others who also cite accession to the money laundering body a national security threat, fearing disclosure of the Iranians' banking information. - 9/15/16

UK blocks Iran's gas revenues over sanctions

- The National Iranian Oil Company (NIOC) says Britain has blocked the revenues it has been paid from selling the natural gas of a field it jointly owns with BP in the North Sea. - 9/15/16

4 injured as fire breaks out at petrochemical plant in southern Iran

- Fire has erupted at a petrochemical plant in the southern Iranian province of Bushehr, injuring four people, one of whom is in critical condition. The blaze engulfed the pressure control station at a facility belonging to the Mobin Petrochemical Co. at around 11:00 local time in the province's Asaluyeh County on Wednesday. The incident came in the wake of at least three fires at petrochemical and oil installations in recent months. - 9/14/16
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