Iran woos local investors as U.S. sanctions loom, currency falls | Reuters

Iran woos local investors as U.S. sanctions loom, currency falls | Reuters:

Iran plans to offer price and tax incentives to private investors to take over idle state projects and help boost the economy, state media reported on Saturday, as the country faces likely U.S. sanctions and the exit of many foreign companies.

In May the United States pulled out of a multinational deal to lift sanctions against Iran in return for curbs on its nuclear program, and Washington has told countries they must halt all imports of Iranian oil from Nov. 4 or face U.S. financial measures.


The new Iranian plan, along with action against alleged financial crime, appears to be aimed at easing concern over the U.S. decision.