Iran's oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanctions were lifted in January, Oil Minister Bijan Zanganeh was quoted as saying on Sunday by the Shana news agency.
South African President Jacob Zuma arrived in Iran on Sunday to strengthen political, trade and investment ties after crippling international sanctions against the Islamic Republic were lifted earlier this year, his office said.
Iran is expected to add half a million barrels of oil supply a day within a year from its existing oilfields after the lifting of sanctions against Tehran in January, but developing new fields would take time, the head of the International Ene
US Democratic presidential front-runner Hillary Clinton has called for sanctions against Iran after the Islamic Republic brushed off US concerns and test-fired two ballistic missiles that it said were designed to be able to hit Israel.
North Korea faces harsh new UN sanctions to starve it of money for its nuclear weapons programme following a unanimous Security Council vote on Wednesday on a resolution drafted by the US and Pyongyang's ally China.
Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing a "tangible" rise in shipments t
Iran on Wednesday stopped short of offering to restrain oil output as part of a global pact to freeze production to prop up prices, making clear it wants to recapture the market share it lost during years of sanctions.
Iranian commercial banks have agreed to cut their deposit rates in a move welcomed by the central bank, after the lifting of economic sanctions on Tehran brought hopes for a further fall of inflation and faster economic growth.
Iran's rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions, but development of the sector will take time and problems will have to be overcome.
French car-maker PSA Peugeot Citroen will pay Iran over 400 million euros ($446 million) in compensation for losses after it quit the country due to sanctions, the managing director of the country's largest carmaker said.