US to impose sanctions on Iran’s metal exports and its leaders

The Trump administration imposed new sanctions on Iran last week, including penalties on the Islamic Republic’s metals and some senior leaders, following Tehran’s attack on U.S. military bases. The sanctions target steel, aluminum, copper and iron, as well as eight senior Iranian officials and sectors of the economy, such as construction, manufacturing, textiles and mining, […]

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Basmati exporters concerned over their Iranian dues after death of Qassem Soleimani

The death of Iran’s most powerful military commander could send jitters to India’s multi-billion dollar basmati rice export industry, reports Financial Express. With dues soaring over Rs 800-900 crore, industry insiders have said that the news of the assassination of Qassem Soleimani could make matters worse for an industry which sent one-third of its total shipments […]

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U.S. sanctions have cost Iran $200 billion

“Iran would have earned $200 billion surplus income…if the country were not involved in an economic war,” President Hassan Rohani made the comments while launching a railway project near Tehran on December 31. The United States imposed new sanctions against Iran after Washington abandoned the 2015 nuclear deal in which Iran agreed to curb its controversial nuclear […]

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India basmati rice exports fall to $2.22 billion in Apr-Oct FY20

India’s basmati rice shipments declined by a tenth at $2.22 billion during April- October 2019-20 on lower volumes, despite a marginal increase in per unit realisation, according to the latest figures released by the Agricultural and Processed Foods Export Development Authority (APEDA) under the Commerce Ministry. Exports of basmati stood at $2.47 billion in the […]

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Iran claims to have found new oilfield with 53 billion barrels of crude reserves; Norway discovers 100 million barrels reserves

Iran has claimed to have discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said to Reuters. “Workers and the exploration arm of the National Iranian Oil Company…have found an oilfield with 53 billion barrels of reserves,” Rouhani said […]

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