TEHRAN (Basirat): Iran’s oil minister said Total has officially backed out of its contract with Iran, saying the country has begun plans to replace the French oil and gas company with local businesses.

TEHRAN (Basirat): As the US is going to hit Iran with a wave of new sanctions on August 6, an Iranian official said Europe needs to take an outright measure before imposition of the sanctions if it is really willing to make up for the US withdrawal from the Iran nuclear deal.