Iran to issue $ 217 million Islamic government bonds for gas and oil projects

Source : 112 Ukraine

Vice President already sanctioned the right of oil, energy and industry ministries to issue Islamic sukuk bonds
19:31, 3 May 2020
Open source
Iran plans to issue securities worth up to $ 217 million to support oil and natural gas projects. This was announced by SHANA state-run energy news service, Reuters informed.

Vice President Eshaq Jahangiri signed off on a decision that sanctioned the right of the ministries of oil, energy, and industry to issue "sukuk" Islamic sharia bonds.

In accordance with the annual state budget, Iran will issue bonds worth up to 35 trillion riyals this year ($ 217 million at the free market rate). They will go to finance gas and oil projects.

Since the end of the last century, sanctions have been imposed on Iran by the United States, the UN, and the European Union, but most of the restrictions were lifted almost five years ago in exchange for commitments to end the nuclear program.
The nuclear deal was signed in July 2015, it entered into force in January 2016. In May 2018, U.S. President Donald Trump withdrew from a nuclear agreement with Iran. Anti-Iranian sanctions were reinstated by Washington in November 2018. They include a ban on the purchase of oil.
Since November 2018, the United States gave eight countries and territories - China, Greece, India, Italy, Japan, South Korea, Taiwan, and Turkey - six months to continue importing Iranian oil, but on May 2, 2019, these exceptions ended.
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