Iran officially became a member of the China-led BRICS economic organization on Monday, as it seeks to overcome the impact of US sanctions and overcome it isolation. In its policy of finding shelter under Chinese and Russian-dominated international organizations, Iran achieved full membership in the Shanghai Cooperation Organization in July 2022 and …
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Iran announced this week that it exported $26.5 billion of oil during the past 9 months, a figure that contradicts both previous Iranian and international estimates. For years, Iranian administrations have not transparently disclosed their oil revenues, citing the illicit nature of shipments under the US sanctions regime. However, in …
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As Iran grapples with a severe lack of foreign investment, its Arab neighbors are increasingly channeling funds into Iran’s northern regions, boosting trade turnover. On December 17, the United Arab Emirates and the Republic of Azerbaijan jointly launched a substantial investment fund worth one billion dollars. This collaborative venture sees …
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As Iran’s domestic carmakers lose money due to sanctions, a technological gap and mismanagement, officials are promising to boost the electrical vehicle production. The only avenue open to Iran is to make deals with Chinese companies and start EV assembly, like fossil-fuel vehicles it produces. China, dominating the global electric vehicle (EV) …
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Iran, despite having the world’s second-largest natural gas reserves, has not yet become an LNG producer, and faces a critical shortage for essential domestic needs. Natural gas that has been cooled to a liquid form for convenient and secure non-pressurized storage or transportation is known as liquefied natural gas, or LNG. …
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As the world’s great powers and the GCC states cast their attention toward the region, the nations of Central Asia could play a major role in facilitating trade between Europe and China. When U.S. President Joe Biden and Chinese President Xi Jinping met in San Francisco to patch up Sino-American …
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In a bizarre turn of events, the Taliban government’s standards office has returned fuel tankers carrying Iranian gasoline, deeming the product below standard. In a message on Thursday, November 29, posted on X, the Taliban stated that 24 tankers carrying low-quality Iranian gasoline were returned to Iran through the Farah’ …
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An Iranian official has acknowledged that the country’s net electricity export has reached zero, due to internal power deficit. Official statistics indicate that during the last three years, Iran’s electricity exports were plunging gradually, while imports increased. Mohammad Elahdad, the Deputy for Transmission and Foreign Trade at the Energy Ministry, …
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Iran’s Chamber of Commerce’s Energy Commission head, Arash Najafi, warns that the natural gas shortage not only affects many sectors but also threatens Iran’s oil fields. He emphasized that without re-injecting gas into oil deposits, some fields might become unproductive, leading to substantial economic losses for the country’s oil sector. …
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Iran’s semi-official Fars news agency has stated that Tehran envisions to boost its oil exports to Venezuela, with a target of 860,000 barrels per day within three years. This plan involves not only exporting oil but also repairing Venezuelan refineries to facilitate this export. The goal is to restore Iran’s …
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