Qatar to Increase Maritime Shipping, Trade With Iran

Qatar maritime shipping

Deputy Head of Iran’s Ports and Maritime Organization (PMO) for Maritime Affairs Hadi Haqshenas announced on Saturday that Qatari officials have intend to increase maritime shipping lines between the two countries.

“The Qataris who supplied their goods through Saudi Arabia and the UAE before (the siege and) sanctions have now requested increased maritime shipping between Iran and Qatar to bolster mutual trade,” Haqshenas said on Saturday.

He added that the goods which are transited from Turkey and other adjacent countries to Qatar can also use the proper shipping lines at Bushehr port to carry goods to the Qatari ports.

“We are now witnessing an eye-catching growth in shipping lines between the Iranian and Qatari ports,” Haqshenas said.

A customs report said in June that Iran had exported 216.585 tons of goods worth $47.666 million to Qatar during the first two months of the current Iranian year (March 21, 2018-May 21, 2018), showing a considerable growth in terms of value.

“Iran’s export to Qatar increased five-fold times as compared with last year’s corresponding period,” the latest statistics of Iran’s Customs Administration on foreign trade showed.

Source: albawaba Business

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EU Looking to Sidestep U.S. Sanctions

EU and U.S Sanctions

EU Looking to Sidestep U.S. Sanctions With Payments System Plan

Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks.

The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President Donald Trump pursues his “America First” agenda.

“With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of U.S. extra-territorial sanctions,” French Finance Minister Bruno Le Maire said Monday during a meeting with press association AJEF. “I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”

Trump reimposed the sanctions after pulling the U.S. out of the Iran nuclear accord in May, despite opposition from NATO allies and China and Russia. European companies including Daimler AG and Total SA have halted activity or backtracked on investment plans to avoid U.S. punishment but France and Germany and their European Union partners want business with the Islamic Republic to continue.

The U.S. is targeting Iranian oil exports as it pushes demands for the government in Tehran to stop supporting terrorism and halt its ballistic-missile program. President Hassan Rouhani has said the U.S. needs to ease sanctions before he’d agree to any talks.

European Payment System Isn’t a Pipe Dream: Leonid Bershidsky

German Foreign Minister Heiko Maas also weighed in Monday, saying the EU is working to protect economic ties with Iran and keep payment channels open. Maas reiterated a proposal to make international payments systems like Swift more independent of the U.S.

Le Maire said using the European Investment Bank, which has exposure to the U.S., as a “financial channel” would be “very complicated” and that the French and German governments are talking to their respective central banks about their involvement. “If we want to build a truly independent instrument we must open up all the options,” he said.

Maas said that while most of the “very difficult questions on the details” of any payments system are unresolved, at least the alternative of a nuclear escalation in the Middle East has so far been avoided. As well as the U.S. sanctions against Iran, action taken against China, Russia and Turkey will also damage European business, he added.

“We have to react and strengthen Europe’s autonomy and sovereignty in trade, economic and finance policy,” Maas said in a speech in Berlin. Canadian Foreign Minister Chrystia Freeland also spoke at the event and said that her nation shares the goal of preserving a multilateral world order.

Le Maire is due to meet German counterpart Olaf Scholz in Paris on Wednesday.

Source: Bloomberg

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European Commission adopts support package for Iran

Eu commission

Brussels, 23 August 2018

The Commission today adopted a first package of €18 million for projects in support of sustainable economic and social development in the Islamic Republic of Iran, including €8 million assistance to the private sector.

Today’s projects are the first of a wider package of €50 million for Iran, aiming to support the country to address key economic and social challenges. They are part of the renewed cooperation and engagement between the European Union and Iran following the conclusion of the Joint Comprehensive Plan of Action (JCPOA).

High Representative/Vice-President Federica Mogherini said: “Since the renewal of the EU-Iran relations as a result of the Iran nuclear deal, cooperation has developed in many sectors. We are committed to sustain it and this new package will widen economic and sectoral relations in areas that are of direct benefit to our citizens”.

Commissioner for International Cooperation and Development, Neven Mimica, said: “With these measures, the EU demonstrates its support to the Iranian people and their peaceful and sustainable development. It encourages stronger involvement of all actors in Iran and in particular the private sector.”

Activities supporting the private sector will include support to high-potential Iranian Small and Medium-sized Enterprises (SMEs), the development of selected value chains, and technical assistance to Iran’s Trade Promotion Organisation.

As part of the €18 million, the Commission will also provide technical support in the area of environmental challenges for €8 million and support drug harm reduction for €2 million.

The projects will be implemented by the International Trade Centre, EU Member State agencies, and other organisations in close cooperation with Iranian counterparts.

Background

The Joint Comprehensive Plan of Action (JCPOA), Iran nuclear deal, concluded on 14 July 2015, opened the way for a new chapter in EU-Iran relations. A high level EU delegation – High Representative/Vice-President Mogherini and seven Commissioners – visited Tehran in this context in April 2016 and since then the cooperation has evolved in various sectors ranging from economic cooperation, transport and energy to education and culture, as well as global challenges such as climate change, drugs, migration and refugee flows.

Cooperation between the EU and Iran in these sectors involves high-level dialogues, technical exchanges and concrete projects. This includes support to Iran’s national nuclear regulatory authority and the Bushehr nuclear power plant. The Commission also assists Iran since 2001 by providing support to the education, health care, and job opportunities benefitting the 3.5 million Afghan refugees and migrants residing in the country.

The European Union is fully committed to the continued, full and effective implementation of the JCPOA, as long as Iran respects its nuclear-related commitments. The lifting of nuclear-related sanctions allowing for the normalisation of trade and economic relations with Iran constitutes an essential part of the JCPOA.

Source: European Commission – Press release

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Germany urges EU payment system without U.S. to save Iran deal

Germany and iran

BERLIN (Reuters) – Europe needs to set up payment systems independent of the United States if it wants to save the nuclear deal between Iran and major powers that was abandoned by President Donald Trump, German Foreign Minister Heiko Maas said.

“That’s why it is indispensable that we strengthen European autonomy by creating payment channels that are independent of the United States, a European Monetary Fund and an independent SWIFT system,” Maas wrote in the Handelsblatt business daily.

“Every day the deal is alive is better than the highly explosive crisis that would otherwise threaten the Middle East,” he added in the article to be published on Wednesday.

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The Belgium-based SWIFT global payment network that facilitates the bulk of the world’s cross-border transactions shut out Iran in 2012 after the United States and EU agreed to impose sanctions on the Islamic Republic over its nuclear activities.

The 2015 agreement between Iran and world powers lifted international sanctions. In return, Iran agreed to restrictions on its nuclear activities, increasing the time it would need to produce an atom bomb if it chose to do so. It has long denied having any such intent.

Trump withdrew the United States from the deal – signed before he took office – in May, calling the agreement deeply flawed and imposing new sanctions earlier this month.

European powers have been scrambling to ensure Iran gets enough economic benefits to persuade it to stay in the deal. This has proven difficult, with many European firms wary of far-reaching U.S. financial penalties.

Iran urged Europe this week to speed up efforts to salvage the nuclear accord after French oil group Total formally pulled out of a major gas project.

Trump’s decision on Iran and his imposition of tariffs on steel and aluminum imports from the European Union have strained relations between the U.S. and its European allies.

“Given the circumstances, it is of strategic importance that we tell Washington clearly: we want to work together,” Maas wrote. “But we will not allow you to hurt our interests without consulting us.”

The EU has vowed to counter Trump’s renewed sanctions on Iran, including by means of a new law to shield European companies from punitive measures.

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Global powers condemn US sanctions against Iran

sanction and global power

Global powers condemn US sanctions against Iran

Several global powers have decried President Donald Trump’s administration for reinstating tough economic sanctions against Iran, while actively calling on businesses to ignore the White House over the coming months.

Despite pleas from key members of the international community, the U.S. re-imposed sanctions targeting the Iranian government’s purchase of U.S. dollars on Tuesday. The measures also impact Tehran’s trade in gold and other precious metals, as well as its automotive industry.

In a tweet posted earlier this week, Trump said: “These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!”

Trump warned that unless Iran — which is the world’s fifth-largest oil producer — complies with U.S. demands, Washington will look to impose far tougher measures in early November.

The second batch of potentially more damaging sanctions will target Iran’s port operators, as well as its energy, shipping and shipbuilding industries. Petroleum-related transactions and dealings between foreign financial organizations and the Central Bank of Iran will also be impacted.

U.S. officials have urged allies around the world to cut all oil purchases from the OPEC member to zero by November. The State Department also warned firms that continue to do business with Tehran could risk punishment.

Europe

The re-imposition of strict economic sanctions against Tehran followed Trump’s decision earlier in the year to pull out of the 2015 landmark deal to lift punitive measures in return for curbs on Iran’s nuclear aspirations.

Co-sponsors of the landmark nuclear deal include some of Washington’s closest allies, with Britain, France and Germany — as well as Russia and China — all signatories to the agreement.

Yet, in defiance of Trump’s warning, the European Union responded to the Iran sanctions on Tuesday by calling on companies to disregard threats from Washington.

“If there is one piece of international agreements on nuclear non-proliferation that is delivering, it has to be maintained. We are encouraging small and medium enterprises, in particular, to increase business with and in Iran as part of something (that) for us is a security priority,” Federica Mogherini, the EU’s foreign policy chief, said Tuesday.

China

In Asia, China condemned the measures reinstated against Tehran earlier this week and — in accordance with Europe — urged oil and gas firms to reject calls for them to completely cut-off from Iranian crude.

“China has consistently opposed unilateral sanctions and long-armed jurisdiction,” China’s foreign ministry said, according to a Reuters report. “China’s commercial cooperation with Iran is open and transparent, reasonable, fair and lawful, not violating any United Nations Security Council resolutions.”

President Donald Trump, left, and China's President Xi Jinping arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany. 

Saul Loeb | AFP | Getty Images
President Donald Trump, left, and China’s President Xi Jinping arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany.

Beijing has cultivated close commercial links with Tehran, especially in the energy sector, and is currently the world’s biggest buyer of Iranian crude. The Asian giant told Reuters on Wednesday that it planned to continue to defend its business interests with Iran.

Russia

The Russian foreign ministry website published a statement Tuesday stating that Moscow is “deeply disappointed by U.S. steps to reimpose its national sanctions against Iran,” before adding, “We will do everything necessary in the interests of preserving and fully implementing the SVPD (Iran nuclear deal).”

In a translation provided by different media reports, the ministry added that it was “taking appropriate measures on a national level to protect trade and economic cooperation with Iran,” and that Russia would continue to work with other parties to the agreement to preserve trade with the Middle East nation.

“We believe that this work is in line with the interests of the international community,” it added.

Iran

Iranian Foreign Minister Javad Zarif reportedly said Wednesday that the U.S. is in no position to try to completely cut off Iran’s oil sector.

“If the Americans want to keep this simplistic and impossible idea in their minds they should also know the consequences… They can’t think that Iran won’t export oil and others will export,” Zarif was quoted as saying Wednesday, without specifying what consequences the U.S. could face.

“The Americans have assembled a war room against Iran… We can’t get drawn into a confrontation with America by falling into this war room trap and playing on a battlefield,” he added.

Iranian Foreign Minister Mohammad Javad Zarif

Photo by Emmanuele Contini | NurPhoto | Getty Images
Iranian Foreign Minister Mohammad Javad Zarif

Last month, Iranian President Hassan Rouhani warned Tehran would be prepared to block the Strait of Hormuz if the U.S. attempted to prevent the Islamic Republic’s oil exports.

The strait connects the Persian Gulf to the Arabian Sea and has been described by the U.S. Energy Information Administration as the “world’s most important oil transit chokepoint.”

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Intl. auto expo running in Mashhad

auto expo mashhad

The 18th edition of International Exhibition of Automobile and Relate Industries of Iran

TEHRAN – The 18th edition of International Exhibition of Automobile and Relate Industries (Iran Motor Show 2018) kicked off on Tuesday at the northeastern city of Mashhad, IRNA reported.

Over 100 Iranian companies along with 30 foreign exhibitors from different countries are participating in this year’s event at Mashhad’s international exhibition center.

Various specialized forums in different fields including stock exchange, manufacturing and spare parts, as well as a classical cars exhibition and test drives are also planned to be held on the sidelines of this exhibition.

The exhibitors will showcase their latest achievements and products in different fields like car manufacturing, distribution and sales, spare parts, automotive related software, machinery and related industries, motorcycles as well as insurance during this four-day event.

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Switzerland recommends firms pursue Iran ties despite US sanctions

swiss

Switzerland recommends firms pursue Iran ties despite US sanctions

The Swiss government regrets the “deteriorating” situation regarding sanctions imposed by the United States on Iran, but recommends Swiss firms pursue their business relations with the Islamic Republic on an informed basis, it said on Thursday.

Companies doing business with Iran will be barred from the United States, President Donald Trump said on Tuesday, as new US sanctions targeting dollars, metals trading, coal, industrial software and its auto sector took effect despite pleas from Washington’s allies.

The move follows Washington reneging on a 2015 deal to lift sanctions in return for curbs on Iran’s nuclear programme.

European countries, hoping to persuade Tehran to continue to respect the deal, have promised to try to lessen the blow of sanctions and to urge their firms not to pull out. But that has proved difficult: European companies have quit Iran, arguing that they cannot risk their US business.

“US decisions on sanctions do not affect the legal situation in Switzerland with regard to Iran,” said Fabian Maienfisch of the State Secretariat for Economic Affairs (SECO).

Renewed US sanctions may affect Swiss firms that have business relations with Iran, however.

“Switzerland regrets that the sanctions situation in relation to Iran is again deteriorating,” he said.

The Swiss federal government would defend Swiss economic interests but cannot dictate the reaction of companies to the new climate, he said, adding: “[The government] recommends that companies pursue their commercial relations with Iran and inform themselves about the situation”.

Swiss-based Nestle, the world’s biggest food company which produces infant formula and cereals as well as bottled water in Iran, said on Tuesday that it sees no direct fallout from renewed US sanctions on the country.

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Trade between Iran, Oman rises 116% in 4 months yr/yr

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Trade between Iran, Oman rises 116% in 4 months yr/yr

TEHRAN- The value of trade between Iran and Oman rose 116 percent during the four-month period from March 21 to July 22, compared to the same period of time in the past year, according to Iran’s commercial attaché to Oman.

Abbas Abdolkhani put Iran-Oman worth of trade at $537 million in the mentioned four months, the website of Iran’s Trade Promotion Organization (TPO) reported on Tuesday.

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PMO offering best incentives for investment in ports

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PMO offering best incentives for investment in ports

TEHRAN- Iran’s Ports and Maritime Organization (PMO) Managing Director Mohammad Rastad announced that his organization offers the best incentives to the investors who make investment in development of ports.

The official said the country’s ports are in the way of development both in infrastructures and in equipment and are ready for the presence of industrial and production units, IRIB reported.

In early May, PMO started imposing revised tariffs on port and maritime activities.

The main objective behind revising the mentioned tariffs is to promote Iran’s sea trade and transit status. The new tariffs reduce the price for exporters and importers in many fields.

In a press conference in April, Rastad said that tariffs play some important role in pricing of maritime and port services, adding that reducing tariffs is done with the aim of promoting status of ports and increasing the services.

PMO has a key status in setting the price of port services and the organization has specified some short and long-term plans in this due and moves in line with the specified objectives, the official said, adding that in this regard, some specific tariffs have been defined and categorized in a three-year plan.

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India going ahead with Chabahar Port project despite US sanctions

Chabar-Port

India going ahead with Chabahar Port project despite US sanctions

Despite the threat of renewed UN sanctions against Tehran, India appears to be going ahead with the Chabahar Port project that provides it a critical transport link to Afghanistan, bypassing Pakistan.

The first container ship carrying grain destined for Afghanistan from the Kandla Port berthed at Chabahar earlier this week.

Diplomatic sources on Friday said the containers on board the vessel would be unloaded at the Iranian port to be later transported to Afghanistan through trucks.

Chabahar, which lies on the Gulf of Oman, provides India with an easier land-sea route to Afghanistan. The Indian Government has committed $500 million to the development of Chabahar and offered to build a sprawling artery of roads and railways which is estimated to cost $15 billion.

Last year, India sent two cargos of wheat to Chabahar to be shipped off to Afghanistan, in a move to show the route’s viability and broaden the cargo flow before the port is fully operational.

US President Donald Trump’s decision to withdraw from a 2015 nuclear deal and penalise financial institutions for doing business with Tehran is clouding Chabahar’s viability.

Transport and Shipping Minister Nitin Gadkari, who had recently visited Tehran, assured the Iranian authorities of India’s commitment to complete the Chabahar project in 2019. The port will also provide India easy accessibility to Central Asia and beyond.

However, the renewed sanctions on Iran by Washington have put paid to India’s endeavour to complete the project.

India has appealed to the US to keep the Chabahar Port out of the purview of the proposed sanctions since the project was aimed to reaching out to the people of war-torn Afghanistan.

The Chabahar Port is expected to figure prominently during the ‘2+2’ high-level dialogue between India and the US to be held in New Delhi on 6 September.

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