1st Iranian Train with Domestically Manufactured Wagons Departs for Uzbekistan
The director general of foreign trade of the Islamic Republic of Iran Railways announced on Monday the departure of a first Iranian train with indigenously manufactured wagons from Sarakhs in Khorasan Razavi Province to Bukhara in Uzbekistan.
“This important achievement was realized through the extensive railway diplomacy adopted since the beginning of the current government, and in this regard, today the first train with 40 Iranian wagons departed from Sarakhs border to Bukhara station in Uzbekistan,” Shahriar Naqizadeh said in an exclusive interview with IRNA.
Stressing that Iranian fleets in the past were not allowed to operate in Commonwealth of Independent States (CIS), and shipments from our country were allowed to pass with wagons from Commonwealth countries, he said Iran Railways is witnessing after extensive efforts and follow-ups the dispatch of trains with Iranian wagons in such countries.
“This train is carrying iron and sponge iron products and is currently traveling towards Bukhara after passing through Turkmenistan,” Naqizadeh added.
Last week in Istanbul, an important six-party railway agreement was signed between the Islamic Republic of Iran, China, Uzbekistan, Turkey, Turkmenistan, and Kazakhstan, aiming to develop commodity exchanges from China to Europe via Tehran.
The East-West railway corridor has managed to reduce the transit time for goods by about one-third compared to the sea route. - Iran Daily
03/12/2025
Iran Gains Technical Assistance Approval at Eurasia Anti-Money Laundering Summit
Delegates at the 43rd plenary meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) approved a technical assistance package for Iran, marking a notable step in the country’s engagement with regional and international financial-crime bodies.
The meeting, held from November 24 to 28, 2025 in Minsk, brought together member states as well as observers from Germany, the United Arab Emirates, Indonesia, Azerbaijan, Serbia, Cuba and Mongolia.
Iranian representatives participated in both plenary sessions and specialist workshops, taking an active role in discussions on strengthening regional cooperation and upgrading national AML/CFT frameworks.
One of the key outcomes was the endorsement of a program designed to support Iran in addressing identified gaps in its anti-money laundering and counter-terrorist financing systems. The package includes technical exchanges, joint training workshops and specialized advisory support offered by EAG member states. Officials said the decision reflects growing confidence in Iran’s efforts to enhance transparency and align with global standards.
Alongside the plenary, a dedicated conference on the use of advanced technologies in combating financial crime brought together delegations from Russia, Belarus, the UAE and Kyrgyzstan.
Iranian experts presented domestic innovations in data analysis and inter-agency cooperation, which participants described as effective and replicable examples for the region.
The summit also featured the announcement of results from EAG’s annual competition for best financial-crime analysis, with Egypt’s National Bank taking first place and entries from Russian and Tajik banks receiving distinction.
Iranian financial institutions engaged in the event’s side activities, a move the Financial Intelligence Unit plans to expand in future sessions to deepen Iran’s professional footprint in regional AML/CFT cooperation.
During the closing session, delegations acknowledged Iran’s active participation across technical and regulatory discussions, noting its contributions in supervisory, judicial and operational fields. The meeting concluded with a collective call for stronger regional coordination and continued collaboration with Iran under the EAG framework. - Tehran Times
03/12/2025
Newly Registered Vehicles to Refuel at New Rate: Iranian Official
The CEO of the National Iranian Oil Products Distribution Company said that under a new plan, fuel quotas for government, free-trade zone, foreign and newly registered vehicles will be supplied at a rate of IRR 50,000 (4.2 cents) per liter. He noted that while the quota for these vehicles remains 160 liters, the entire amount will now be provided at the IRR 50,000 rate.
According to the National Iranian Oil Refining and Distribution Company, Keramat Veys-Karami said the Cabinet’s approval of a three-tier gasoline pricing system does not change the amount or rates of the first and second quotas for regular vehicles. In other words, the 60-liter quota at the first rate (IRR 15,000 (1.26 cent)) and the 100-liter quota at the second rate (IRR 30,000 (2.52 cents)) remain unchanged.
He said the purpose of the Cabinet’s decision is to encourage the public to use their personal smart fuel cards. “Currently, at least 40% of daily gasoline distribution is carried out using station emergency cards,” he said, adding that daily gasoline consumption averages 133 million liters. “This means 53 million liters per day are purchased with station cards at the IRR 30,000 rate.”
The CEO emphasized that the goal is to increase the use of personal smart fuel cards and minimize the use of emergency station cards. He said individuals who do not have smart fuel cards will be issued new ones. Beginning in the second half of Azar (late December), gasoline purchased using station cards will be priced at IRR 50,000. The exact implementation date will be announced later.
Veys-Karami added that some vehicles are not eligible for the first and second quotas. Government vehicles fall into this category, he said. “The government has announced that the IRR 30,000 quota will not apply to government vehicles, and they must refuel at the IRR 50,000 rate.” Vehicles in free-trade and special economic zones, foreign vehicles and newly registered vehicles will also refuel at the emergency card rate of IRR 50,000.
In response to a question about how these vehicles will refuel, he said they will be issued fuel cards and will receive the 160-liter quota normally allotted under the first and second rates, but the fuel will be priced at IRR 50,000. Newly registered vehicles, he clarified, refers to brand-new cars that have just come off the production line. - Shana
03/12/2025
Energy Consumption at Iranian Schools to Be Optimized
The National Iranian Gas Company and the Organization for Development, Renovation and Equipping Schools signed an agreement to improve energy efficiency in schools.
The agreement was signed Monday by Saeed Tavakkoli, deputy oil minister for gas affairs, and Hamidreza Khan-Mohammadi, deputy education minister and head of the Schools Renovation Organization. They emphasized the importance of optimizing energy consumption and improving the efficiency of heating systems in schools.
Under the agreement, the two organizations will cooperate on replacing high-efficiency heating systems and improving boiler room performance in schools. The main goal is to reduce energy use in schools and improve gas resource management nationwide. - Shana
03/12/2025
Fourth Energy Efficiency Conference to Be Held in Tehran
The fourth International Conference and Exhibition on Energy Optimization and Efficiency in Iran will be held at the Milad Tower International Conference Center of Tehran.
According to the National Iranian Oil Company, the event — organized with the participation of the Renewable Energy Association, the Energy Commission of the Iran Chamber of Commerce, Industries, Mines and Agriculture, and supported by NIOC along with a group of specialized associations — is scheduled for Dec. 7–8 at the Milad Tower conference center. It aims to improve energy efficiency and reduce energy intensity.
As one of the country’s largest national gatherings focused on energy efficiency, the conference will host policymakers, industrial managers, knowledge-based companies, academics and experts. It will provide a platform for exchanging knowledge, presenting new achievements and examining practical and technological solutions.
Specialized panels will focus on energy-efficiency policymaking and optimization in industry, buildings and transportation. Domestic and international companies will also showcase their latest technologies and innovative solutions in the exhibition section.
Given the importance of energy efficiency in sustainable development, new tech-based firms and energy-sector stakeholders have been invited to take part.
For more information, attendees can visit the conference’s official website. - Shana
03/12/2025
Iranian Industrialists Discuss Expanding Economic Relations with Spain
In a recent meeting of the Industry and Mining Committee of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), private sector representatives hosted the head of the Spanish Embassy's Economic Office in Tehran.
During this meeting, the capacities and opportunities for commercial cooperation between companies of the two countries were reviewed.
During this session, in a dialogue between Iranian private sector representatives and Iñigo Gil Casares, both sides emphasized laying the groundwork for expanding economic relations between the two countries amid the reopening of the international environment for Iran. They also deemed greater interaction between the two countries' chambers of commerce essential for identifying trade opportunities and introducing reputable companies.
Hervik Yarijanian, Chairman of the Tehran Chamber’s Industry and Mining Committee, began the meeting by referring to the longstanding political and economic relations between Iran and Spain.
He mentioned the recent visit of an Iranian trade delegation to Catalonia and noted that during the negotiations, an agreement was reached to draft a cooperation memorandum between the Tehran Chamber and the Catalonia Chamber.
Hessameddin Hallaj, Deputy for International Affairs and Trade Development of the Tehran Chamber, referred to the interaction between the Tehran Chamber and the Spanish Embassy's economic section in recent years.
He noted that the outcome of these interactions, under current conditions, would accelerate the development of economic relations between the two countries in the absence of international tensions.
He emphasized that during the sanctions period, some European countries that were at the forefront of sanctions against Iran remained among Iran’s trade partners, demonstrating that economic cooperation can continue even under tough sanctions.
The head of the Spanish Embassy's Economic Office in Tehran, referring to the closeness of the two countries in some areas, including the temperament of business owners, stated that with the signing of the JCPOA, Spain was among the first countries to rapidly initiate economic relations with Iran.
Iñigo Gil Casares emphasized that the Spanish Embassy's economic section in Tehran is committed to advancing economic relations between the two countries and their enterprises. However, he noted that there are several general obstacles to trade between the two countries, including the lack of direct banking and monetary exchanges, which have diminished trade relations between Spanish companies and Iran.
He expressed hope that with the easing of political tensions and the lifting of sanctions, the environment for economic cooperation between the two countries would become secure and expanding.
The head of the Spanish Embassy's Economic Office also stated that companies and economic actors of the two countries can be kept up-to-date on cooperation through specialized webinars, online conferences, and direct visits by Iranian private sector representatives to Spain for dialogue with its economic sector.
Following this, members of the committee and representatives of companies and associations present at the meeting discussed potential areas of economic cooperation between Iranian companies and the Spanish market.
They also exchanged views on fostering interactions through the Tehran Chamber and the Spanish Embassy's economic section. - Tehran Times
03/12/2025
Iran Expanding Petchem Exports to Eurasian Market
The head of the National Petrochemical Company said Iran is increasing its petrochemical exports to Eurasian markets.
According to the company, Hassan Abbaszadeh said Monday during a meeting on preparations for the 29th RUPLASTICA exhibition in Russia, that Iran’s petrochemical sector has developed strong cooperation with Russia and other Eurasian countries in recent years, leading to export growth in those markets.
He said Iranian petrochemical companies have introduced themselves and gained a solid foothold in the Russian market by participating in specialized exhibitions there. He added that downstream petrochemical industries, along with other active companies in the sector, can also tap into Eurasian markets given existing demand.
Abbaszadeh said petrochemical holdings and companies participating in RUPLASTICA under the Islamic Republic of Iran’s pavilion will be able to showcase their capabilities to Russian firms and create the conditions needed to further increase exports.
The RUPLASTICA exhibition will be held January 27-30, 2026 in Moscow. - Shana
03/12/2025
Housing Partnerships Inject Billions into Bahrain's Economy
Bahrain has injected almost 1.9 billion dinars (US$5 billion) into its economy through public-private partnerships in the housing sector, according to the Ministry of Housing and Urban Planning.
The partnership framework, first introduced in 2013 and expanded in recent years, has helped reduce the national housing waitlist by 17 percent between 2022 and 2024, the Bahrain News Agency reported, citing Housing Minister Amna Al-Rumaihi.
This underscores the housing industry’s growing impact on real estate activity, construction demand, and consumer-driven sectors.
Speaking during Cityscape Bahrain, the minister noted that the strategy aligns with a royal directive to fast-track 50,000 housing units, a milestone positioned as a key driver of living-standards improvements and economic development.
She said this “reflects the keenness to provide decent living conditions for citizens as they are the cornerstone of development work in the comprehensive development process witnessed by the Kingdom of Bahrain,” the BNA report stated.
Al-Rumaihi added that “the ministry is working to accelerate the implementation of projects, expand the base of partnership with the private sector, and develop multiple financing solutions, in order to ensure that this directive is translated into tangible results on the ground.”
Bahrain’s housing system has undergone broad structural reforms, including updates to legislation, new partnership frameworks with developers, upgraded financing programs, improvements to sustainable housing city designs and the full digitalization of services.
These measures aim to increase efficiency, enhance service quality and reduce the gap between housing supply and demand.
The minister highlighted its collaboration with Eskan Bank to showcase financing and development programs that provide immediate options for eligible citizens.
She highlighted the strong adoption of the Tas’heel and updated Mazaya financing schemes launched in 2022.
As of the third quarter of 2025, accepted applications under these programs reached 2,322 with a combined financing value of 149.67 million dinars (US$397.5 million). Approved applications since the program’s introduction total 10,504, with financing exceeding 630 million dinars (US$1.67 billion).
The ministry also noted that a majority of new applications came from citizens shifting from traditional services toward instant financing options, reflecting a broader change in consumer behavior.
Additionally, the Tas’heel+ program, launched in April 2025, has attracted more than 600 applicants seeking higher financing limits and stable monthly payment plans.
Housing development is expanding through the government land development rights program, which includes seven new projects planned between 2024 and 2027 to deliver more than 4000 units.
A major strategic project in Khalifa City will add over 3000 units, supported by agreements with local and international developers. Other projects across Bahrain’s governorates are underway.
Recent initiatives include the Tamooh program, which allows citizens to start with an apartment purchase through existing financing schemes and later access an additional 20,000-dinar facility to upgrade to a larger home.
The Bayty digital platform has also been upgraded to include online property reservations, digital valuation services, and full application tracking.
Government land development rights projects have seen strong demand, with the rapid sell-out of units in developments such as Al Naseem in Salman City and Al Wadi in Buhair.
Al-Rumaihi said these projects, along with private sector land development partnerships, are designed to accelerate access to suitable housing and support broader urban and economic integration.
The minister added that delivering 50,000 housing units is expected to serve as a major economic driver by creating jobs, stimulating the property market, supporting local industries, and strengthening the financial sector.
03/12/2025
OPEC+ Policies of Oil Output Hikes & Cuts
OPEC+, which pumps about half the world's oil, has paused oil output hikes for the first quarter of 2026 after releasing some 2.9 million barrels per day into the market since April 2025.
The group still has about 3.24 million bpd of output cuts in place, representing around 3% of global demand.
Below is a summary of policies from the Organization of the Petroleum Exporting Countries and allies, known as OPEC+:
THREE STAGES OF CUTS
The group's total output cuts peaked at 5.85 million bpd in March. The cuts were performed in three stages:
1. Cuts by most of the 22 members of 2 million bpd. OPEC+ extended the cuts by a year until December 2026.
2. Voluntary cuts by eight members - Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia and the United Arab Emirates - amounting to 1.65 million bpd.
3. Voluntary cuts by eight members - Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia and the United Arab Emirates - amounting to 2.2 million bpd.
GRADUAL UNWINDING
From April, OPEC+ began to unwind voluntary cuts.
Eight OPEC+ members fully unwound the 2.2 million bpd layer between April and September.
OPEC+ also allowed the United Arab Emirates to increase output quotas by 300,000 bpd.
Since October, the eight members increased output by 411,000 bpd, leaving about 1.24 million bpd to unwind from the second layer of cuts of 1.65 million bpd.
CAPACITY DEBATE
The 22-member OPEC+ will hold an online meeting on Sunday to debate a mechanism to assess the maximum sustainable production capacity for each member, OPEC+ sources have said.
In May, members asked OPEC's headquarters to develop this mechanism, which would be used as reference for their 2027 production baselines.
03/12/2025