EghtesadOnline: In need of new sources of revenue to compensate for the budget deficit emanating from steep declines in oil exports and reduce the ballooning liquidity, the idea of taxing bank deposits has come to the fore again, raising the possibility that the government may introduce the scheme in the 2020-21 fiscal budget.
EghtesadOnline: With US sanctions on the oil industry taking a toll on the economy, including the national budget, the government has again pledged to reduce dependency on oil exports to zero and prepare the next budget (March 2020-21) without oil revenues.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said Sunday Iran will use every possible method to sell its oil, adding that it is the country’s legitimate right.
EghtesadOnline: Iranian Offshore Oil Company, a subsidiary of the National Iranian Oil Company, has not cut offshore crude output nor stopped loading oil for export, managing director of the company said Monday.
EghtesadOnline: The European Union’s top diplomat and the foreign ministers of France, Germany and Britain (E3) expressed regret and concern over recent US decisions against Iran's legitimate oil exports and nuclear activities.
EghtesadOnline: Unilateral measures to cut Iranian oil exports to zero will not produce the results desired by the Trump White House.
EghtesadOnline: Russian President Vladimir Putin said on Saturday he hoped Iranian oil exports would continue despite Washington’s efforts to stop them.
EghtesadOnline: Dismissing allegations by former president Mahmoud Ahmadinejad over mismanagement in the energy sector, the Oil Ministry said despite difficulties created due to the new US economic sanctions, revenues from oil exports have been received by the treasury.
EghtesadOnline: The government is exploring new ways to bypass US sanctions and find banking channels to Europe, China, and Russia for oil exports and financial transactions, says Asadollah Qarekhani, spokesman of the Majlis Energy Commission.
EghtesadOnline: Sanctions on Iran’s banks, oil exports, ships and ports, lifted in 2015 as part of a nuclear weapons agreement that Trump abandoned in May, will be reimposed on Monday. But it is not clear whether those banks would be allowed to participate in the Society for Worldwide Interbank Financial Telecommunication, or Swift. That is the system that allows the world’s banks to communicate with one another, making global transactions possible.