The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
By John Lee. Prime Minister Nechirvan Barzani and a delegation of senior officials from the Kurdistan Region concluded a two-day visit to the Islamic Republic of Iran yesterday to promote greater cooperation in economic and trade relations. With the volume of trade between the Kurdistan Region and Iran estimated to be around $8 billion this […]
By John Lee. Iran’s Vice President for International Affairs, Ali Saeedlou, led a high level political and economic delegation representing about one hundred Iranian companies to the Kurdistan Region to participate in a high profile business conference today. The Iranian – Kurdistan Region Economic Forum follows a visit to Iran by Prime Minister Nechirvan Barzani […]
By John Lee. A group of Iranian companies has announced its intention to invest in the industrial and oil sectors in Basra. The Basra Investment Commission says that $310 million dollars will be invested. The Iranian group's representative, Hussein Binae, siad the group will spend $60 million on a factory to make cables and electric […]
By John Lee. The Customs Director of Iran's Kurdistan Province has said that $416-million worth of commodities have been exported to Iraq from this western province since the start of current Iranian year, March 20, 2012. Talking to the Iranian news agency IRNA, Mohammad Shahbazi said this represented an increase of 21 percent compared to […]
Tehran Times reports that Iranian President Mahmoud Ahmadinejad will visit Iraq in the near future. In an interview with the Persian service of the Mehr News Agency on Sunday, the Iranian Ambassador to Iraq, Hassan Danaiifar, also said that the commander of the Islamic Revolution Guards Corps (IRGC) Naval Force, Rear Admiral Ali Fadavi, will […]
By John Lee. Iran will provide Iraq with natural gas by the summer of 2013, according to Iranian news agency Fars. Javad Oji, the head of the National Iranian Gas Company, said Iran has completed more than 25 percent of a 48-inch pipeline that could carry up to 25 million cubic meters per day of […]
By Eugen Iladi. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The ability of Iraq’s embattled Prime Minister, Nuri al-Maliki, to maintain power in Baghdad is increasingly linked to the support he receives from Iran. Al-Maliki and his inner circle are notoriously tied […]
By John Lee. CNN's Jill Dougherty reports on allegations Iraq is helping Iran navigate around the sanctions placed on Tehran: (Source: CNN)
By John Lee. Earlier this month, the US accused Elaf Islamic Bank of doing business with Iranian banks that had been blacklisted. According to a news report from NBC, Iraq's central bank has been transferring dollars to Iran, helping Iran stay afloat in spite sanctions. It now appears President Maliki may be involved. NBC’s Andrea […]
Despite increasingly strong links between Iraq and Iran, a disagreement has broken out at ministerial level about Iran's use of water from the Wand River [Wind, Alwand, Hulwan]. According to a report from NINA, Iraq's Trade Minister, Khairallah Babekir [Khayri-allah Babakir, Khairallah Hassan Babiker], has said that he will not sign trade agreement with Iran, […]
By John Lee. Iraq’s crude oil output rose above 3 million barrels a day last month for the first time since the 2003 U.S.-led invasion that toppled Saddam Hussein, according to the Organization of Petroleum Exporting Countries (OPEC). Iraq pumped 3.08 million barrels a day in July, 115,000 barrels more than the previous month, outpacing […]
By John Lee. President Barack Obama has said that Iraq's Elaf Islamic Bank carried out "transactions worth millions of dollars" on behalf of Iranian banks that had been blacklisted because of their to Iran's nuclear programme. "We will expose any financial institution, no matter where they are located, that allows the increasingly desperate Iranian regime […]
