Economy of Iran

Oil prices hit a 3.5-year high yesterday, supported by tight supply and planned U.S. sanctions against Iran that are likely to restrict crude oil exports from one of the biggest producers in the Middle East.

European oil companies are not ruling out reducing Iranian oil imports after the threat of new US sanctions, with some expecting banking issues to hinder trade, but there was no rush to immediately cut volumes.

A United States judge on April 16 again postponed sentencing a former Turkish banker convicted of violating U.S. sanctions on Iran.

Iran unified the country’s official and open market exchange rates, state media said, after its currency, the rial, plunged to an all-time low on April 9 on concerns over a return of crippling sanctions.

A New York judge has postponed until May 7 the sentencing of a former Turkish banker convicted of violating U.S. sanctions on Iran.

A Turkish banker convicted of helping Iran evade U.S. economic sanctions deserves a lenient sentence because he at most had a small role “in someone else’s mammoth plot,” his lawyers said.

Greek private sector bank deposits increased slightly in February, resuming a three-month rise that was paused by a dip in January, central bank data showed on Tuesday.

Business and household deposits rose 0.13 percent last month to 124.92 billion euros from 124.76 billion in January. 

French energy giant Total will push ahead with a $4.8 billion deal to develop an Iranian gas field and will seek a waiver if Washington re-imposes sanctions, the firm’s CEO has said.

Sudan's central bank has said it agreed a $2 billion loan from a Turkish company to provide banking facilities and to import petroleum products and wheat.

The volume of the Turkish private sector’s outstanding long-term loans received from abroad rose to $220.6 billion as of December 2017, while short-term loans stood at $18.3 billion, according to an official report on Feb. 19.