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EU to implement Iran dedicated SPV in a week! – Daily Market News

by date: 22 January 2019in News & Reports No Comments

EU to implement Iran dedicated SPV in a week!

Market News

– Reported by Euronews, the EU foreign affairs council (FAC) has decided yesterday to implement long-awaited “Iran dedicated SPV” aiming to circumvent the US sanctions and make path clean for European firms to do business with Iran in less than a week. EU members held a meeting in Brussels just the other day and made final calls in that regard. This could have massive effects on Iran FX market and if follows by the ratification of FATF related amendments, it could prevent complete isolation of the nation from the outside world. 

Iran Imports

Iran allows raw materials imports up to USD 300 mn without actual FX transferring! – Daily Market News

by date: 19 January 2019in News & Reports No Comments

Iran allows raw materials imports up to USD 300 mn without actual FX transferring!

Market News

– After Iran central Bank’s rigour regulations on Imports/Export activities, now cabinet members are to ratify a bill allowing imports of raw materials up to USD 300 mn from export currency resources (a clearing process) without the need to actually transfer FX inbound/outbound the country. This is to ease merchants minds from being forced to enter their trade proceeds into domestic FX markets (NIMA and SANA platforms). 

Iran Energy Exchange

Iran offers crude at $52.42 bp on Iran Energy Exchange! – Daily Market News

by date: 14 January 2019in News & Reports No Comments

Iran offers crude at $52.42 bp on Iran Energy Exchange!

Market News

– After series of unconfirmed news around the third batch of oil offering on Iran Energy Exchange, now the deputy international affairs of NIOC announced that Iran will sell 1 mn barrels of its crude on January 21, 2019, at a price of 52.42 US dollars. The smallest lot shall be no less than 35K barrels per each order. Iranian officials have granted NIOC a green light for 3 mn barrels offering on IRENEX. This issue could be settled completely in Iranian Rials and has a clearing period of 90 days instead of 60. 

Iranian oil

US not to extend Iranian oil buyers exemptions! – Daily Market News

by date: 12 January 2019in News & Reports No Comments

US not to extend Iranian oil buyers exemptions!

Market News

– The head of Iran Action Group announced that the US will not extend exemptions of Iranian oil buyers that were granted previously. Brian Hook told the press that these exemptions aimed to stop the global oil price hikes and it is not likely that the United States extend the 6 month period. Last year 8 countries, including South Korea and Japan who still are not buying oil from Iran regardless of the immunity they have, were exempted from the ban on buying Iranian oil. 

Iran Economy

Economist forecast on Iran Economy growth is negative for 2019! – Daily Market News

by date: 5 January 2019in News & Reports No Comments

Economist forecast on Iran Economy growth is negative for 2019!

Market News

– In its latest forecast report, the Economist intelligence unit has predicted that Iran Economy will sink with a rate of -3.70% for the year 2019. The US sanctions along with its consequent lower oil sales are the main catalysts behind the nation’s falling GDP growth. Syria, mostly due to the end of its long-lasting civil war, will experience the highest economic growth in 2019. Below picture has the details:

Iran Dedicated SPV

EU not willing to pay dues for Iran Dedicated SPV! – Daily Market News

by date: 25 December 2018in News & Reports No Comments

EU not willing to pay dues for Iran Dedicated SPV!

Market News

– The foreign minister of Iran, Mohammad Javad Zarif, told the press that EU is not willing to pay its dues when it comes to Iran Dedicated SPV. Apparently, the results from countless hours of negotiations with the European partners in JCPoA was indeed not fulfilling for Iran and the matter reached a dead end after all. “It costs EU more no to develop what they promised,” said Zarif in his interview. 

Iran Budget Bill

Government Securities Analyzed in Iran Budget Bill (2019/20)! – Daily Market News

by date: 22 December 2018in News & Reports No Comments

Government Securities Analyzed in Iran Budget Bill (2019/20)!

Market News

– A member of the Iranian parliament announced details of government securities to be issued in the next fiscal year (2019/20 Iran Budget Bill) in order to finance national projects, settle the contractors’ outstanding liabilities and reimbursement of previously matured debt securities (interest and principal).

Iran humanitarian imports

Switzerland is to dedicate a financial line to Iran humanitarian imports! – Daily Market News

by date: 19 December 2018in News & Reports 1 Comments

Switzerland is to dedicate a financial line to Iran humanitarian imports!

Market News

– After growing anticipations on Iran dedicated SPV, promised by EU members to circumvent US sanctions, now an English newspaper announced that Switzerland is to establish another dedicated finanicla line to ease Iran humanitarian imports (Food, Pharmaceutical and Medical equipment). This is a part what EU promised Iran after US unilateral withdrawal from JCPoA. 

bonus

Energy Subsidies paralyses Iran Economy! – Daily Market News

by date: 18 December 2018in News & Reports No Comments

Energy Subsidies paralyses Iran Economy!

Market News

– For many years Iran had, and still have, the worst type of Energy Subsidies payments in the world which has only resulted in a weak and unbalanced economy for the nation (Iran Economy). The FOB price of petroleum hovers around 40 cents in the region and considering the domestic price of gas (IRR 10,000 – 10.52 cents!) it is clear that the Iranian government pays