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Trade relations between the EU and the US, valued at €1.5 trillion annually, face uncertainty as Donald Trump re-enters politics, raising concerns about potential protectionist policies. EU finance ministers are meeting in Brussels to discuss the risks of a trade war, which could reduce global GDP by 7%, equivalent to the economies of Germany and France. Amidst this, food bank dependency is rising in the EU due to economic instability. Trump’s ties with Euro-skeptic billionaire Elon Musk further complicate EU regulations, fueling public apprehension about the future of EU-US relations. Maintaining stable trade relations is crucial for economic growth.
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Iran has signed a $17 billion contract with domestic firms to enhance gas production at the South Pars field, the world’s largest, in response to ongoing gas shortages. Despite having the second-largest natural gas reserves, Iran faces significant production declines due to inadequate infrastructure and a lack of foreign investment since the US withdrew from the JCPOA. The new contract involves pressure-boosting measures but experts warn that it may only slow production decline rather than halt it. Iran plans to build smaller platforms for gas extraction, but lacks experience in this area, raising concerns about future gas supply stability.
During a diplomatic meeting in Islamabad, Iranian Parliament Speaker Mohammad Bagher Ghalibaf urged for enhanced economic ties between Iran and Pakistan, aiming for $10 billion in trade. He stressed the need for improvements in banking, bartering, and free trade, while highlighting the significance of cooperation in economic, political, and security matters. Ghalibaf expressed gratitude for Pakistan’s support during recent conflicts and addressed ongoing concerns about Iran’s nuclear program. Prime Minister Shehbaz Sharif affirmed Pakistan’s backing of Iran’s peaceful nuclear rights, indicating a shared commitment to mutual support and collaboration, which may strengthen their bilateral relationship amid regional challenges.
Mohammad-Ali Movahhed’s four-volume work, “A Troubled Sleep of Oil,” provides an in-depth analysis of Iran’s oil industry history, examining its political, legal, and economic dynamics. The first volume covers the D’Arcy Concession to Reza Shah’s fall, detailing crucial contracts and negotiations. Subsequent volumes explore the nationalization movement led by Mohammad Mosaddegh and the implications of the 1953 coup, which restored the Shah’s power and foreign control over oil resources. Movahhed highlights the interplay of internal and external forces shaping Iran’s political economy, making this series essential for scholars and policy analysts interested in Iran’s oil history and its broader implications.
Mazandaran province’s Customs Offices reported $335 million in non-oil goods exported to 45 countries from March 21, 2024, to January 20, 2025. This period saw an 11% increase in weight and a 29% rise in export value compared to the previous year, totaling 1.451 million tons. Key items exported included agricultural products, textiles, construction materials, and food. Improved production, logistics, and marketing have enhanced Mazandaran’s role in international trade. Customs officials aim to sustain growth by focusing on quality and expanding into new markets, positioning the province as a burgeoning player in Iran’s non-oil export sector.