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Iran oil exports rise to 1.2 mn barrels per day

Iran's crude oil exports have hit 1.2 million barrels per day, almost doubling from eight months ago when the country elected a new president, a top government official said Friday. Mansour Moazami, who holds the planning brief among the Islamic republic's five deputy oil ministers, said the numbers were 20 percent above forecasts and they would rise further. "When the government took office, exports were around 700,000 barrels per day," Moazimi was cited as saying by Mehr, a semi-official government news agency.

Rouhani says Iran sanctions will unravel in months

DUBAI (Reuters) - President Hassan Rouhani said on Tuesday international sanctions on Iran would unravel in months following negotiations with world powers on its nuclear program, the official IRNA news agency reported. Some international sanctions imposed over Iran's nuclear program have been eased temporarily after a deal was reached last year with world powers, but Washington has said the lifting of sanctions can only happen "in total" after a comprehensive deal is reached.

Iran economy stabilizing, to soar if deal reached

Iran's economy is stabilizing and will post substantially stronger growth if the Islamic republic reaches a comprehensive deal with world powers on its nuclear program, the IMF said Friday. The International Monetary Fund estimates that Iran's economy shrank by 1.7 percent in 2013, the second straight year of contraction after the United States and its allies imposed sweeping sanctions.

Top Russian diplomat rejects US warnings against striking oil deal with Iran

MOSCOW - A senior Russian diplomat on Wednesday angrily rejected U.S. warnings against striking an oil-for-goods contract with Iran, saying that Moscow wouldn't be intimidated by threats. Deputy Foreign Minister Sergey Ryabkov said in remarks carried by the state RIA Novosti news agency that an increase in Russian-Iranian trade is a "natural process that doesn't involve any elements of political or economic challenge to anyone."

Kerry says Iran 'breakout' window now seen as two months

WASHINGTON (Reuters) - U.S. Secretary of State John Kerry said on Tuesday the current view of the Iran "breakout" period for developing nuclear weapons capability is two months. "I think it's public knowledge today that we're operating with a time period for a so-called breakout of about two months. That's been in the public domain," Kerry testified at a Senate hearing. Iran's breakout time is defined as how long it would take it to produce fissile material for one weapon.

Boeing says it received US license to export certain aircraft spare parts to Iran

CHICAGO - Boeing Co. said Friday that it received U.S. government approval to export certain spare parts for commercial airplanes to Iran. A Boeing spokesman said that the parts were needed to ensure safe flight, but he declined to describe them further or put a dollar amount on them. The spokesman, Marc Birtel, said Boeing's last delivery to Iran was a 747-100 jumbo jet in August 1979 — three months before American hostages were seized at the U.S. embassy in Tehran.

Treasury official: Firms not in new deals with Iran after pact

By Patricia Zengerle WASHINGTON (Reuters) - The top U.S. Treasury Department official responsible for sanctions said on Wednesday there is no evidence that any companies are taking advantage of a preliminary nuclear agreement with Iran by reaching new deals in Iran.

U.S. investigates Deutsche Boerse unit over Iran sanctions

By Jonathan Gould FRANKFURT (Reuters) - German exchange operator Deutsche Boerse has again become the target of U.S. authorities in an investigation over whether its Clearstream Banking unit violated U.S. money laundering and Iran sanction laws. Deutsche Boerse on Wednesday said Clearstream was cooperating in an investigation launched by the U.S. Attorney for the Southern District of New York, months after reaching a $152 million settlement with the U.S. Treasury's Office of Foreign Assets Control (OFAC) over the same issue.

Iran fuel price hikes will be big test for Rouhani

By Parisa Hafezi ANKARA (Reuters) - Looming fuel price rises in Iran will be the first major test of President Hassan Rouhani's ability to retain public support in the face of attacks from his hardline rivals. Since he was elected in August, Rouhani has pleased many Iranians by reaching an interim agreement with the United States and the European Union on his country's nuclear program, and pursuing a deal that would end economic sanctions against Iran.

Sanctions on Gunvor's Russian co-founder put oil traders on guard

By Joshua Schneyer and Edward McAllister NEW YORK (Reuters) - Minutes after the U.S. government said Thursday it would punish the Russian co-owner of the world's No.4 private oil trading firm Gunvor SA with crippling sanctions, traders and bankers active in global oil markets began asking urgent questions.
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