Iran allows visa-free travel for citizens of 7 countries

Iran has revoked visa requirements for nationals of 7 countries as part of its plans to boost tourism industry in the country. According to a report published by the Iranian media, citizens of Turkey, Lebanon, Azerbaijan, Georgia, Bolivia, Egypt and Syria can travel to Iran without visa. Under the new visa requirement regulations, citizens from […]

Iran stabilizing oil products export (EXCLUSIVE)

The Iranian Oil Ministry has been successful in stabilizing the exports of such main products as mazut, liquefied gas, kerosene, and gas oil, according to Deputy Oil Minister and CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi. “For the first time in the history of our oil industry, we have […]

An Overview of Iran Legal System

Administrative divisions (or Provinces) Iran is divided into 30 provinces. These are: Ardabil, Azarbaijan-e Gharbi (West Azarbaijan), Azarbaijan-e Sharqi (East Azarbaijan), Bushehr, Chahar Mahaal and Bakhtiari, Esfahan, Fars, Gilan, Golestan, Hamadan, Hormozgan, Ilam, Kerman, Kermanshah, Khorasan-e Jonoubi (South Khorasan), Khorasan-e Razavi (Razavi Khorasan), Khorasan-e Shomali (North Khorasan), Khuzestan, Kohkiluyeh and Buyer Ahmad, Kurdestan, Lorestan, Markazi, […]

Japan, S. Korea to Finance €520m in Petchem Projects

Iran’s Petrochemical Commercial Company International (PCCI) is in talks with investors from Japan and South Korea for an investment of €520 million in petrochemical projects in Iran in the form of usance letter of credits (LCs). Managing Director of PCCI, a subsidiary of Persian Gulf Petrochemical Industries Company (PGPIC), Isa Mashayekhi told Shana that his […]

Boeing Confirms Sale Agreement with Iran Air

US aviation giant Boeing confirmed on Tuesday that it has signed a sale agreement with Iranian national carrier Iran Air. BBC News values the deal at $25 billion at list prices. In a statement on Tuesday, Boeing said it has signed the agreement “under authorizations from the US government following a determination that Iran had […]

Foreign Oil Firms target Iran’s Downstream Projects

The managing director of Iran’s Oil Pipelines and Telecommunication Company (IOPTC) said a number of major foreign oil companies have voiced eagerness for investment in the country’s downstream oil projects. Leading oil companies from Germany, Switzerland and Britain are keen to join Iran’s downstream oil projects, Abbasali Jafari Nasab said, Shana reported on Monday. “We […]

Iran-Europe Trade Sees Unprecedented Growth

The volume of trade between Iran and European countries witnessed a major leap in the fourth month of 2016, a report said. The latest figures from EU’s statistical office Eurostat show that Iran’s exports to Greece, France, and Spain respectively increased 108-fold, 60-fold and 9-fold in April, compared to the same period last year. The […]

Joint Venture in Iran

Joint Venture in Iran Joint Venture is translated as cooperation contract and flexible contract as well. One side brings the money and the other side provides services through a contract. Joint venture is a cooperation framework in which probable risks of management and operation is divided between partners. Joint Venture (J.V) is based on a […]

What goods or other business activities in Iran will require a license?

The following activities require a licence under the proliferation-related sanctions: The sale, supply, transfer or export of nuclear-related items as listed in Annex I of the Regulation The provision of technical assistance, brokering services and financial assistance related to items listed in Annex I of the Regulation Investment by an Iranian person, entity or body […]

What Happened to Iran Sanctions?

What sanctions have now been lifted? EU and UN nuclear-related economic and financial sanctions have now been terminated. This includes the delisting of many UN and EU entities and individuals. US secondary legislation imposing nuclear-related economic sanctions have also been suspended. The major sectors that will be affected by this initial phase of sanctions relief […]