At the Kanoon Towlid Iran textile factory, workers are quietly confident of their future – thanks to sanctions against their country’s nuclear programme.
Only last March Kanoon, a medium-sized plant 15km west of Tehran, laid off almost half of its 130 workers amid a grim economic outlook.
Since then, US and EU banking and oil sanctions over Iran’s nuclear programme have come into effect, reducing the country’s foreign exchange revenues and causing the Iranian rial to plummet.
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