Iranian Rial

screwball · March 26, 2017

Swedish Firm Accepts Deposits in Bitcoin to Facilitate Business with Iran

News ID: 1364067 Service: Economy

March, 25, 2017 - 17:06

TEHRAN (Tasnim) – A Swedish company has come up with an innovative solution which both bypasses US sanctions and does away with the need for banks to process transactions with Iran, a report said.

Brave New World Investments AB is reportedly accepting deposits in bitcoin which it converts to Iranian rial and invests in equities on the Tehran Stock Exchange (TSE).

With some US sanctions against Iran still in place in spite of a nuclear agreement, major banks have been refusing to finance deals with Tehran out of fear of running afoul of opaque American laws.

Brave New World has become the first known company in Europe to incorporate without a bank account and handled all the initial funding in bitcoin.

The team behind the venture is experienced in finance and technology in Europe and the Middle East, according to Finance Magnates, a global information portal offering online financial trading news and research.

The new firm's Mikael Johansson said they operate completely with cryptocurrency on behalf of their European shareholders while also searching for angel investors among the Iranian and bitcoin communities in Europe, Press TV reported.

“Now we simply do not have a Swedish bank account. However, we do have an Iranian bank account for the equity investments. We pay our bills, shareholder dividends, Iran deposits – everything – in cryptocurrencies,” he said.

TSE is among the five biggest markets in the Middle East, where more than 300 companies are listed with a market capitalization of around $100 billion.

The lifting of sanctions generated a tide of euphoric mood in anticipation of money from outside the country flowing into Iranian stocks. Investors were encouraged by prospects of economic growth and the Iranian market's low valuations.

However, Iranian officials have said the US was “terrorizing" the Europeans into shunning business with Iran despite the lifting of the sanctions.

Some European banks have reportedly discussed resumption of trade financing in Iran but they have yet to move in.

According to Johansson, Brave New World got to think of the venture as the sanctions against Iran started to get dismantled in early 2016 but none of the Swedish banks wanted to help the firm.

“There are no sanctions in Sweden or in the European Union obstructing Swedish-Iranian investments, so we are not breaking any laws in our jurisdiction,” he said.

“We religiously follow anti money laundry directives set by the relevant institutions of Sweden and the European Union,” he added.

Johansson’s company will not have US operations nor US investors for an indefinite future due to the current American sanctions against Iran.

screwball · March 26, 2017

Resistance Econ. to continue ‘even stronger’

News ID: 3936681 - Tue 21 March 2017 - 10:29

Politics

TEHRAN, Mar. 21 (MNA) – President Hassan Rouhani has congratulated Leader of the Islamic Revolution on the Persian New Year’s Eve.

Mr. Rouhani’s congratulatory phone call came on March 21 where he assured the Leader of the continuing Resistance Economy policies so dearly held by Ayatollah Khamenei as a remedy to the economic woes and the recession and stagnation which had hit the economy even with the implementation of the JCPOA.
In the phone call, Rouhani also suggested national unity to bring a modest level of advancement to the country, with no less valuable recommendations by the Leader of the Islamic Revolution which Rouhani had alluded to in many of its speeches. “Economic growth, more jobs, especially for the young cohort will best be informed by your guidelines as ever,” Rouhani said, to which Ayatollah Seyyed Ali Khamenei congratulated back to Rouhani the Persian News Year’s Eve and to the whole nation as well.

screwball · March 26, 2017

Iran-China economic co-op seminar to be held next week

Economy

March 26, 2017

Tehran – An Iran-China economic cooperation seminar is due to be held on April 5, IRNA cited Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)'s public relations office.

According to ICCIMA, senior managers of more than 50 Chinese companies will visit Tehran next week to attend the seminar which aims to improve Iran-China's $4 billion trade turnover.

The seminar will be held by Iran and China's chambers of commerce in cooperation with the Trade Promotion Organization of Iran (TPO) and ICCIMA in Tehran.

Renowned Chinese companies active in various fields including power industry, renewable energies, construction, iron and steel, coal, oil and gas, finance, banking, insurance and investment as well as communications, aerospace, automotive, transportation, food, beverages, pharmaceuticals and international trade are expected to attend the event.

Iran-China current trade turnover stands at $4 billion and the two countries aim for boosting the figure to higher levels in the current year.

screwball · March 26, 2017

arge petrochemical complex costing €257m inaugurated in western Iran

Economy

March 25, 2017

TEHRAN- A large petrochemical complex with an annual production capacity of 310,000 tons came on stream today in the western province of Kordestan.

Some €257 million has been invested in the project, which started in 2005, Shana reported.

President Hassan Rouhani and Oil Minister Bijan Namdar Zanganeh officially inaugurated the complex.

The Kordestan Petrochemical Complex is projected to produce 310,000 tons of light polyethylene per year, which are mainly used in downstream industries for manufacturing plastic parts and wire sleeves.

Iran’s petrochemical production, which stood at 46.4 million tons in the Iranian calendar year 1394 (March 2015-March 2016), is planned to soar to 180 million tons over the next ten years, according to the National Petrochemical Company.

The NPC managing director Marzieh Shahdaie said in August 2016 that Iran needs $20 billion of investment to complete unfinished petrochemical projects across the country in 5 years.

screwball · March 27, 2017

In reciprocal act, Iran sanctions 15 American companies

Tehran, March 26, IRNA – The Islamic Republic of Iran, in response to Washington’s imposition of new sanctions against Tehran, has put 15 American companies under sanctions.

The Foreign Ministry announced in a statement on Sunday that the Islamic Republic of Iran has imposed sanctions on 15 American companies involved in propping up the Zionist regime, terrorists and suppressing civilians in the region.

“The Islamic Republic of Iran condemns the recent measure taken by the United States administration to impose one-sided extraterritorial sanctions against Iranian and non-Iranian individuals and institutions,” the Foreign Ministry said in its statement.

“Imposition of new sanctions by the US is based on fabricated and illegitimate pretexts and amount to an action against the international regulations as well as the word and spirit of the Joint Comprehensive Plan of Action,” it said.

“Hereby, the Islamic Republic repeats and insists that strengthening and enhancement of the country’s defense capabilities, including boosting Iran’s missile defense power remains to be certain and inevitable in a bid to safeguard the country’s right to defend itself against any foreign aggression and build up its deterrence power against threats.”

“The Islamic Republic of Iran accepts no restrictions imposed against its efforts to protect its dignity, territorial integrity and security of the people.”

The statement by Iran’s Foreign Ministry suggests that the 15 American companies have gone under sanction for their blatant violation of human rights and international humanitarian rights.

“They have been included in the list of the individuals and legal entities which are under sanction by the Islamic Republic.”

According to the statement, the sanctioned companies have, directly and/or indirectly, been involved in the brutal atrocities committed by the Zionist regime in the occupied Palestinian territories, or they have supported the regime’s terrorist activities and Israel’s development of Zionist settlements on the Palestinian soil against the Resolution 2334 adopted by the United Nations Security Council urging Tel Aviv to stop construction of new settlements.

The following are the names of the American companies now under Iranian sanction:

BENI Tal
United Technologies Produces
RAYTHEON
ITT Corporation
Re/Max Real Estate
Oshkosh Corporation
Magnum Research Inc.
Kahr Arms
M7 Aerospace
Lewis Machine and Tool Company
Daniel Defense
Bushmaster Firearms International
O.F. Mossberg & Sons
H-S Precision Inc.

Most of the companies listed above are involved in security and military activities and generously help the Zionist regime to continue its brutal treatment of Palestinians.

screwball · March 27, 2017

Central Bank of Iran slams, to contest Luxembourg assets seizure

Sun Mar 26, 2017 2:8PM

The file photo shows the building of the Central Bank of Iran in northern Tehran.

The Central Bank of Iran (CBI) has strongly criticized a recent decision by a court in Luxembourg to seize $1.6 billion of the Islamic Republic's assets, saying the verdict did not amount to the enforcement of a related ruling by a US court.

In a statement on Sunday, the CBI announced that it would use all means at its disposal to protest and appeal the decision by the Luxembourg court, adding that legal efforts would continue until the rights of the Iranian nation are restored.

“The recent decision by the court in Luxembourg does not mean the recognition and enforcement of the US court verdict and the aforementioned seizure [of assets] only is a preliminary measure, which can be countered through various means,” it said.

“There are numerous means available under Luxembourg laws to counter it, such as protesting and appealing the verdict at higher courts, and the Central Bank [of Iran], with the cooperation of the Iranian Presidency's Center for International Legal Affairs, will make the utmost use of the above means,” the statement added.

“Measures by the United States of America in line with issuing so-called terrorism rulings against the Iranian government are in various respects violations of international law and conventions.”

According to the statement, the procedure adopted by the US against Iran is in contravention of the immunity of governments under international law and a violation of the Treaty of Amity, Economic Relations and Consular Rights signed between Iran and the US in 1955.

Furthermore, the CBI said, the execution in other countries of the ruling in absentia lacks any justification and basis in international law.

“The Islamic Republic has cataloged in detail the reasons for the illegality of this measure by the government of the United States of America in a petition registered at the International Court of Justice,” added the statement.

It added that several years ago, in response to the intensification of US sanctions against Iran, the CBI launched a campaign to “curtail the share of the US dollar in its income basket and this measure was implemented gradually but continuously. This policy is also followed closely today.”

A Luxembourg court on Wednesday denied a request by Tehran to retrieve $1.6 billion of Iranian assets claimed by the US as compensation for the victims of the September 11, 2001 attacks.

The file photo shows the office of Clearstream in Kirchberg, Luxembourg, which facilitates international exchanges of securities.

The New York Times released a report on March 6 about a confidential ruling by a Luxembourg court to freeze $1.6 of CBI assets in a financial institution in the European country.

According to informed sources, the Luxembourg court ordered the freezing of the CBI assets after a group of terror attack victims, who had won a default judgment against Iran in the US, filed a lawsuit at the European court to try to enforce it, the report said.

In 2011, the group had persuaded a federal judge in New York, George B. Daniels, to find that Iran had provided assistance to al-Qaeda in the 9/11 attacks, an allegation vehemently dismissed by the Islamic Republic. In 2012, the judge ordered Iran to pay the victims two billion dollars in compensatory damages and five billion dollars in punitive damages.

That judgment stagnated for years, as there was no obvious financial source to collect it. However, after the nuclear sanctions against Iran were lifted, following a deal on Iran’s nuclear program, which was signed last year, the group referred the case to the Luxembourg court as it came to light that the Clearstream system in Luxembourg, which facilitates international exchanges of securities, was holding $1.6 billion in CBI assets.

In a similar case in April, the US Supreme Court issued an order authorizing the transfer of around two billion dollars of frozen Iranian assets to the families of the victims of a 1983 bombing in Beirut, which targeted a US Marine Corps barracks in the Lebanese capital, Beirut, and other attacks blamed on Iran. The assets belong to the CBI, which have been blocked under US sanctions.

Iran has denied any role in the attacks and strongly criticized the move by the US.

screwball · March 27, 2017

Iran’s Oil Exports Doubled with JCPOA Implementation: President

News ID: 1364499 Service: Politics

March, 26, 2017 - 15:29

TEHRAN (Tasnim) – Iranian President Hassan Rouhani highlighted the outcome of the July 2015 nuclear deal with world powers, known as the Joint Comprehensive Plan of Action (JCPOA), saying that the country’s oil exports have doubled since the deal took effect in January 2016.

“The exports of crude oil and condensates have increased by at least two times compared to the exports before the JCPOA implementation,” Rouhani said in a speech in the western province of Kurdistan.

He further emphasized that the country should continue moving in “this correct direction”, adding that undoubtedly, the Islamic Republic can reach the highest peaks in the world with “unity and empathy”.

Last month, CEO of the National Iranian Oil Company (NIOC) Ali Kardor said that all of the problems in the way of insurance for transportation of Iranian oil and petroleum products have been resolved following the lifting of anti-Tehran sanctions.

The sanctions were terminated after Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of the comprehensive 159-page deal on Tehran’s nuclear program and started implementing it on January 16, 2016.

Kardor has also said the country’s oil production would surpass 4 million barrels a day by the end of March.

Iran’s production stood at about 3.7 million barrels a day in the last quarter of 2016, according to independent sources used by OPEC.

R1016170/P42410/S1192/CT18

screwball · March 27, 2017

Bitcoin Payment System Can Help Revitalize Iran’s Economy: US Analyst

News ID: 1364485 Service: World

March, 27, 2017 - 11:16

TEHRAN (Tasnim) – An American political analyst said Bitcoin payment network can help the Islamic Republic of Iran develop both its domestic and foreign economy, adding that the system could “create many jobs” across the country.

“I can see the possibility over the next few years of a few hundred million or maybe a few billion dollars worth of Bitcoins and Altcoins coming into the Iranian economy. This in itself could have many positive effects for businesses and could help create many jobs throughout the country,” John Ubele said in an interview with the Tasnim News Agency.

Following is the full text of the interview.

Tasnim: What is Bitcoin?

Ubele: Bitcoin(BTC) is a digital currency which can also be used as a payment system. It is a decentralized system which means its accounting system/ledger also known as a blockchain is kept on thousands of computers around the world. This decentralized blockchain system helps keep Bitcoin transactions transparent and accessible to anyone who wants to access the system to look up and verify any transaction.

Tasnim: How widely is Bitcoin used?

Ubele: There are tens of thousands of businesses in different countries around the world which accept Bitcoin as payment for their goods or services. There are also many different online and brick and mortar exchanges which offer different types of fiat currency and digital currency pairings.

Tasnim: In which country is Bitcoin most popular?

Ubele: At this point in time the bulk of the world’s Bitcoin trading is done in China, but trading of Bitcoin has expanded greatly in India and Japan. A good deal of Bitcoin trading is also done in Europe.

Tasnim: Can countries use Bitcoin instead of the US dollar in international transactions?

Ubele: Yes, it is possible. Bitcoin’s market capitalization is currently about $20,000,000,000. If countries began doing large transactions, say in the hundreds of millions of dollars then this would greatly increase the demand for Bitcoins which would push its price higher. Right now the price of an individual Bitcoin is about $1,150. You can find historical price charts for Bitcoin on coinmarketcap.com.

Tasnim: How could Bitcoin help European countries become less dependent on the US dollar?

Ubele: Different European governments and businesses in different European countries could use Bitcoin as a payment system like PayPal. PayPal is a payment system which has a record of being pro-Zionist and of being anti-Iranian, anti-Palestinian, and anti-Syrian. Bitcoin doesn’t discriminate like PayPal does. The main reason for this is because the power and control of the Bitcoin system is decentralized unlike PayPal which is a company that has its power and control centralized or concentrated among a few key executives or shareholders.

Tasnim: Is Bitcoin part of a Zionist effort to gain greater control over the flow of capital around the world?

Ubele: This is an excellent question. Based on everything I know about Bitcoin and the other digital currencies (Altcoins), I would say no. The actual software which created Bitcoin is open source. This means that anyone can access it. So a person or group of people who have backgrounds in computer programming or software engineering can take this open source software and make changes to it to create their own digital currency. For example; programmers in Iran could make a digital currency indigenous to Iran.

Tasnim: How could Bitcoin help Iran?

Ubele: I believe there are many ways Bitcoin and Altcoins could significantly help people, businesses and charities there. Businesses there could sell more goods and services internationally through the internet because they could use Bitcoin as a payment system. Once businesses receive payments they wouldn’t have to worry about charge backs or like with PayPal they wouldn’t have to deal with the risk of PayPal confiscating or freezing the funds in their PayPal account. Charities in Iran could accept online donations which would increase revenue coming into these charities. Also, websites could be set up for crowdfunding efforts to restore some of the historical sites around the country.

I can see the possibility over the next few years of a few hundred million or maybe a few billion dollars worth of Bitcoins and Altcoins coming into the Iranian economy. This in itself could have many positive effects for businesses and could help create many jobs throughout the country.

Tasnim: How could a person in Iran obtain some Bitcoin?

Ubele: Probably the easiest way would be to create a free account on localbitcoins.com and then buy some online through that site. Another option is to try some of the “Bitcoin faucets” online, but these only allow you to acquire very small percentages of a Bitcoin. For people living in or near Tehran they could go to the Farhad Exchange (farhadexchange.net) and can exchange Rials for Bitcoins.

I would also recommend for people to try some of the different Bitcoin wallets(https://bitcoin.org/en/choose-your-wallet). There’s a number of different types available. Once you setup a wallet and you have a small amount of Bitcoin you should try sending small amounts of Bitcoin between different wallets. This will help a new user learn how to use the wallets and in sending and receiving Bitcoins.

Tasnim: Where do you see Bitcoin in the future?

Ubele: Bitcoin has been around since the beginning of 2009. When it first came out it was only worth about 1/100th of a penny. Now it’s worth about $1,150. One of the main reasons for its explosive increase in price has been that people like the system and more and more people are finding out about it, using it and in many cases investing in Bitcoin itself. All of this is increasing demand for it which is increasing its price.

I believe over the next 5 to 10 years we could see Bitcoin’s price hitting $5,000 or $10,000. It’s possible the price of Bitcoin could go even higher, especially if we start seeing multi-national corporations using Bitcoin for their transactions. This would increase demand significantly more from where it is now.

I think everyone should have a little bit of their savings in Bitcoin. Even if they only own $10 worth of it, it’s something. It’s very important not to put all your eggs in one basket because there are risks with Bitcoin and Altcoins, but I think a person keeping 2 or 3% of their total savings in digital currencies is pretty low risk but still has the potential to have a decent return on investment.

Tasnim: Is there anything you would like to add?

Ubele: Yes, I believe it’s important for more Iranians to learn about Bitcoin and Altcoins because they are tools which can be used to benefit Iran. Beyond that I think regulators in your country, especially in the Ministry of Economic Affairs and Finance should understand the way that digital currencies work because just like any other tool which can be used for good, it can also be used for evil. It’s important that the government understands this technology and how to combat it if it ends up being used by malevolent individuals or nations against Iran.

The last thing I want to share is that the University of Nicosia is currently offering a free introduction to digital currencies course. I would recommend this course to anyone who wants to learn more about Bitcoin and Altcoins. I had taken this course a few months ago and I have to say I learned a great deal from it.

screwball · March 27, 2017

Iran to present new oil contracts to Russian companies

Economy

March 26, 2017

TEHRAN- Iran will give presentation on its new oil contracts for Russian companies on Monday.

"The presentation will take place in Moscow," an official of Russian Energy Ministry told Sputnik.

In November 2015, Iran introduced a new model of oil contracts, known as Iran Petroleum Contract (IPC), which will replace buy-back agreements. It offers more flexible terms on oil price fluctuations and investment risks to make the sector more financially attractive.

Ali Kardor, the managing director of the National Iranian Oil Company, has said the country needs $134 billion of investment for upstream oil and gas projects by 2021 to meet the objectives of the country’s Sixth National Development Plan (2016-2021) and with the new contract model it would be possible to reach this figure even sooner.

The official noted that 29 international companies have been prequalified to bid for the country’s oil and gas projects based on the new model of contracts.

According to Oil Minister Bijan Namdar Zanganeh, Anglo-Dutch Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas, Russia’s Gazprom and Lukoil, Austria’s OMV, Germany’s Wintershall, as well as companies from Spain, Poland, China, Japan, India and some other countries are in the list of companies prequalified for IPC.

MG

jaman · March 28, 2017

On 3/26/2017 at 4:45 AM, screwball said:

arge petrochemical complex costing €257m inaugurated in western Iran

Economy

March 25, 2017

TEHRAN- A large petrochemical complex with an annual production capacity of 310,000 tons came on stream today in the western province of Kordestan.

Some €257 million has been invested in the project, which started in 2005, Shana reported.

President Hassan Rouhani and Oil Minister Bijan Namdar Zanganeh officially inaugurated the complex.

The Kordestan Petrochemical Complex is projected to produce 310,000 tons of light polyethylene per year, which are mainly used in downstream industries for manufacturing plastic parts and wire sleeves.

Iran’s petrochemical production, which stood at 46.4 million tons in the Iranian calendar year 1394 (March 2015-March 2016), is planned to soar to 180 million tons over the next ten years, according to the National Petrochemical Company.

The NPC managing director Marzieh Shahdaie said in August 2016 that Iran needs $20 billion of investment to complete unfinished petrochemical projects across the country in 5 years.

I saw what they did there....€257 million it's in euro

markb57 · March 28, 2017

not sure, but this doesnt look good for an RV. they have found ways around finance with bitcoin. it doesnt appear they are in need of an rv at all. hopefully I am misreading this. we wait...

blueskyline · March 28, 2017

Brave New World Investments AB is reportedly accepting deposits in bitcoin which it converts to Iranian rial and invests in equities on the Tehran Stock Exchange (TSE).....I think that because the rial is still involved in the conversion and investment process it must be a good thing still for a raised value in the future because of greater investment with more demand for rial needed to be invested in the equities market . I could be wrong but it looks that way to me . I see direct increased demand .

screwball · March 28, 2017

Iranian firms removed from special supervision list in UK

London, March 28, IRNA – The British Department for International Trade in a new post-sanction notice announced that Iran list was removed from GOV.UK.

According to GOV.UK, Iran list, which identified a range of entities, companies and organizations in Iran, was published to help exporters judge whether their exports might potentially be of concern on end-use grounds, based on Export Control Organization ECO’s previous decisions about exports.

“The lifting of some sanctions means that Iran is able to trade more freely with the international community. This offers an opportunity for UK companies to win business in the biggest market to enter the global economy in decades,” the notice reads.

“The UK Government fully supports expanding our trading relationship with Iran and encourages UK businesses to take advantage of the commercial opportunities that arise.”

“The Iranian government has clearly stated its desire to attract foreign direct investment to meet the country’s ambitious growth targets, and private firms around the world, including the UK, will soon have new business opportunities that will also benefit Iran and her people,” the notice continues.

As per the new notice, an informed source told IRNA on Monday that the
Department for International Trade had released a list regarding the fact that Iranian firms should be under special supervision on exporting products, equipment and services.

Based on the list, exporters were required to be aware of those companies in the Department for International Trade’s sanctions list.

In a recent speech in the British parliament, Secretary of State for International Trade Liam Fox pointed to unmatched trade opportunities with Iran in post-sanction era, saying that work on normalization proccess of effective channels for financial transactions with Iran has started.

screwball · March 28, 2017

Iran, Russian presidents vow continued cooperation- 5 hours ago

Iran defeats China, takes a major step towards 2018 FIFA World Cup- 5 hours ago

Iran, Russia presidents issue joint statement- 5 hours ago

Kremlin: Iran ally of Russia- 5 hours ago

Official: Continuing resistance, Intifada only way for Palestinians’ salvation- 6 hours ago

Iran, Belarus consider roadmap for enhancing ties- 7 hours ago

Rouhani: Tehran, Moscow cooperation not harming third country- 7 hours ago

Activist: Saudi gov't has no regard for Law, Yemenis need help- 7 hours ago

Iran, Russia sign deal on production of air ambulances- 8 hours ago

Norouz world festivity held in UNESCO's Paris- 8 hours ago

All News

March 29, 2017

Code: 82475736 (5900232) | Date: 28/03/2017 | Time: 00:15|

Print Version | Send To Friend

Iran president, Russian PM discuss enhancement of bilateral ties, regional cooperation

Moscow, March 28, IRNA – President Hassan Rouhani and Russian Prime Minister Dmitry Medvedev, in a meeting in Moscow on Monday evening, reviewed ways to promote bilateral relations as well as regional cooperation.

President Rouhani arrived in the Russian capital earlier in the day for a two-day visit upon an official invitation by his Russian counterpart Vladimir Putin.

During the meeting with Medvedev, which was the first meeting of President Rouhani in his Moscow visit, the president expressed hope the visit will mark a breakthrough in expansion of Tehran-Moscow cooperation in different political, economic, cultural and international areas.

Referring to cooperation between the two capitals on regional and international issues, President Rouhani said, “Undoubtedly Iran-Russia relations will positively affect the establishment of stability and security in the region and the entire world.”

The Russian prime minister, for his part, congratulated President Rouhani on the Iranian New Year (Norouz), adding, Moscow is determined to promote ties with Tehran in all areas.

Medvedev expressed satisfaction with the ongoing cooperation between Iran and Russia, saying, there is no doubt that talks in Moscow would highly help deepen bilateral relations.

President Rouhani is scheduled to meet President Putin on Tuesday in a meeting in the Kremlin where the two presidents are to discuss different areas of increasing cooperation between Tehran and Moscow including on major regional developments.

During President Rouhani’s two-day visit to Moscow, the two sides are due to sign 15 documents in different fields including consular cooperation, tourism, economy, communications and legal and judicial cooperation.

President Rouhani is also scheduled to give a speech at Moscow State University where he will be granted an honorary PhD.

At the end of the visit, the two presidents will issue a joint statement.

screwball · March 28, 2017

Pak-Iran to resume banking transactions soon: FPCCI

Central banks of Iran and Pakistan are likely to sign agreement next week for opening banking channels to streamline trading activities between the two countries, a senior official of Pakistan said on Thursday.

The announcement was made by President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Tufail.

He said that in recent meeting with State Bank of Pakistan (SBP), the governor of the central bank had informed about the signing of the agreement with Iranian authorities for resuming formal banking channels. The SBP governor informed that almost all the formalities had been finalized, IRNA reported.

Tufail said that the signing ceremony was scheduled for March 18 but due to New Year (Norouz) celebration in Iran, the ceremony was rescheduled and Iranian authorities would visit next week.

He said after the signing of the agreement the formal trade through opening of Letter of Credit (LC) by banks in each country would be started.

FPCCI president said that the financial transactions were halted due to sanctions imposed on Iran by the international community.

screwball · March 28, 2017

Tehran, Moscow sign MoU to build railcars

News ID: 3940150 - Tue 28 March 2017 - 09:46

Economy

TEHRAN, Mar. 28 (MNA) – A Memorandum of Understanding was inked Monday between the Industrial Development & Renovation Organization of Iran (IDRO) and Transmashholding, Russia’s largest company on the railway machine-building market.

In the course of bilateral talks between the Iranian delegation in Moscow and top directors of Transmashholding, a cooperation agreement was reached between IDRO and CJSC Transmashholding as the largest manufacturer of locomotives and rail equipment in Russia.

Under the terms of the agreement, the two sides will join hands in production of rail wagons in Iran through Russian financing.

As a result of negotiations, Tehran and Moscow will cooperate in various sectors of producing cargo and passenger railway carriages.

It had been previously announced that Iran and Russia were planning to launch collaborations in the area manufacturing train wagons.

Russia possesses one of the world's most extensive rail networks as well as the largest industry for manufacturing of rail cars and locomotives. Majority of cargo and passenger displacements are conducted through railroad in Russia which is the world’s largest country with an area of over 17 million square kilometers.

The Eurasian country also enjoys the advantage of holding links with former Soviet republics.

HA/3939991

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screwball · March 29, 2017

Iran, Russia hail strategic partnership in joint statement

Moscow, March 29, IRNA – The Joint statement made by President Hassan Rouhan and Russian leader Vladimir Putin after their meeting in the Kremlin on Tuesday underscores the two countries' strategic partnership.

The two Presidents also insisted in the statement that all parties involved in the nuclear deal between Tehran and six world powers should comply with their obligations under the agreement on the Iranian nuclear program, also known as the Joint Comprehensive Plan of Action.

'While stating the importance of this Joint Plan as a multilateral international document, approved by the UN Security Council, Russia and Iran emphasized the need for full compliance by all parties with obligations under this document. At the same time they stressed the fact that the Islamic Republic of Iran has full legitimate rights to the peaceful uses of nuclear energy in accordance with the Non-Proliferation Treaty.'

Russia welcomed 'Iran’s strict compliance with its obligations under the Joint Plan, confirmed by the IAEA, as well as its firm intention to strictly observe the agreements within the established deadlines.'

Rouhani and Putin described in positive terms cooperation within the framework of the JCPOA 'in particular, the signing of the contract for pre-project works to alter the two cascades of gas centrifuges in Fordou for the production of stable isotopes and stressed the need for its prompt implementation.'

Tehran and Moscow also called as illegitimate imposition of unilateral sanctions against other nations.

'Imposing unilateral sanctions against countries is illegitimate,' the statement read.

The joint statement says Russia and Iran are unanimous that the NPT treaty is a corner stone of non-proliferation, of building up nuclear disarmament efforts and of using nuclear power for peaceful purposes.'

'Russia and Iran, supportive of the idea of converting the Middle East into a nuclear-free region, confirmed that the resolution on the Middle East, adopted at the 1995 NPT Review and Extension Conference, will stay in effect until its aims have been achieved,' the statement said.

The two presidents emphasized the need to continue joint efforts aimed at building a just world order based on international law, namely the United Nations Charter, as well as at solving global issues.

'By boosting bilateral cooperation, Russia and Iran seek to enhance the central coordinating role of the United Nations in ensuring peace, security and sustainable development, and to further improve its effectiveness,' the statement adds.

Putin has hailed Iran as Russia’s most reliable and stable partner.

screwball · March 29, 2017

President: Iran, Russia to boost trade exchanges to $10 billion

Moscow, March 29, IRNA – Tehran and Moscow intend to increase the volume of their annual trade exchanges to 10 billion dollars, President Hassan Rouhani says.

President Rouhani made the remarks Tuesday evening during a dinner banquet with Iranian nationals living in Russia.

“It takes several years for the people to know all the aspects of the Joint Comprehensive Plan of Action,” he said, referring to the nuclear deal between Tehran and six world powers.

The Iranian president said that after the implementation of the nuclear deal, except for the banking issue, all the goals followed by Iran have been achieved.

The dinner banquet, which took place at a Moscow hotel, was also attended by Foreign Minister Mohammad Javad Zarif, Chief of Staff of Iranian President's Office Mohammad Nahavandian, and Iran’s Ambassador to Moscow Mehdi Sanaei.

President Rouhani heading a high-ranking delegation was in Moscow on Monday and Tuesday at a formal invitation by his Russian counterpart Vladimir Putin.

screwball · March 29, 2017

Iran, Russia lay out roadmap to enhance strategic cooperation

Wed Mar 29, 2017 8:49AM

Iranian President Hassan Rouhani (L) shakes hands with Russian counterpart Vladimir Putin during their meeting at the Kremlin in Moscow on March 28, 2017. (Photo by AFP)

Iran and Russia issue a joint statement, outlining a roadmap for the future status of their bilateral relations and cooperation on the regional and international stage.

The 16-page statement was released during talks between President Hassan Rouhani and his Russian counterpart, Vladmiri Putin, in the Kremlin on Tuesday, the second day of a two-day visit to Moscow by the Iranian chief executive.

Putin calls Iran a ‘reliable, stable partner’

Politics

March 28, 2017

TEHRAN – Russian President Vladimir Putin said on Tuesday that Iran is a “good neighbor” and “reliable and stable partner”.

During a meeting with Iranian President Hassan Rouhani in Moscow, Putin said that the two countries worked very effectively together in various areas, including global issues and the resolution of major and very grave international problems.

Russia was one of the countries, coupled with other five ones, which played a consequential role in finalizing the 2015 international nuclear deal which removed economic sanctions against Tehran in exchange for it scaling down its nuclear program.

Also, Russia and Iran are both providing crucial military support to President Bashar al-Assad against terrorists and jihadi fighters in Syria's six-year-old conflict.

Pointing to a 70-percent jump in trade volume between Iran and Russia in 2016 in comparison with the same time expansion last year, Putin noted that the achievement is unprecedented.

Russia sees great potential particularly for expanding cooperation with Iran in the oil and gas sphere, he highlighted.

"We see a good potential for expanding cooperation in the oil and gas sector. Leading Russian companies have reached a number of important agreements on the development of large hydrocarbon fields in Iran, our states cooperate within the framework of the Gas Exporting Countries Forum, coordinate efforts to stabilize global oil markets," Putin said.

Moreover, Russia and Iran will continue cooperation with an aim of stabilizing the global energy market and ensuring conditions for stable economic growth, a joint statement after the talks of the countries’ presidents said Tuesday.

"[Russian President Vladimir] Putin and [Iranian President Hassan] Rouhani welcomed the agreements of the OPEC [Organization of the Petroleum Exporting Countries] member states and other oil producing countries which favours balancing supply and demand in the oil market in an acceptable price range, as well as maintaining the investment attractiveness of the oil industry. Russia and Iran will continue to cooperate in this area in order to stabilize the global energy market and ensure sustainable economic growth," the statement read.

Rouhani, for his part, emphasized that cooperation between the two countries is not against a third country and helps boost regional peace and stability.

He also expressed hope for new steps to expand bilateral ties.

The high-ranking delegations of Iran and Russia signed 14 cooperation documents in various political, economic, judicial, legal, scientific and cultural fields in the presence of Rouhani and Putin.

NA/A

screwball · March 30, 2017

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Central Bank of Iran: the use of two currencies Aloutnettin Iranian and Russian in its final phase

29/03/2017

Direction Press / Agencies
The Governor of the Central Bank of Iran Waliullah Saif said negotiations on the use of two currencies Aloutnettin Iranian and Russian banking exchanges between the two countries have entered their final phase.

Seif said, in a press statement on Wednesday after returning from Moscow, the central banks of Iran and Russia will undertake the responsibility of both countries to facilitate trade in important export commodities operations where they will settle the accounts of these activities in accordance with national currency.

He added that the finalization of this agreement will facilitate the settlement of accounts for both parties and processes will contribute to speeding up business processes and will increase levels of export and import of goods that will boost commercial activities in both countries.

In another context, he noted his talks with the Russian side, pointing out that the ATM cards in the two networks Almsrefitten both countries Stertbtan with each other that will facilitate the use by nationals of the two countries during tourist trips and shopping.

He described the negotiations on this subject that it reached its final stages, noting the preparation of a memorandum of understanding during the next week to sign it and then be linked to two networks Almsrefitten in the two countries within a month after the signing of the agreement.

He pointed out that Russian banks have expressed their desire to open branches inside Iran, where the dialogue in this regard as the Iranian side expressed its readiness to respond to this desire, hoping to reach the negotiations on this issue in its final stage.

http://aletejahtv.org/permalink/157512.html

pokerplayer · March 30, 2017

Chatted with my neighbor with ties to Iran. He definitively see's a rate change coming down the road but his relatives still say they see no way near a dollar. He had me smiling at rate change

pp

sandfly · March 30, 2017

Pp I'm looking at .28, so what did he think it will be

pokerplayer · March 30, 2017

1 minute ago, sandfly said:

Pp I'm looking at .28, so what did he think it will be

His Family sees a portability of ,33- .39 this at a streach

pp

CRYPTO REWARDS!

Iranian Rial

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