Sputnik - Faced with a US threat to re-impose sanctions on Iran, which is complicating the attraction of foreign investment, Tehran is looking for alternative sources of financing its energy projects.




According to�the country�s Minister of�Petroleum Bijan Zangeneh, up�to 75 percent of�the $200 billion Iran needs to�sink into�its� and gas production were expected to�come in�the form of�foreign investments, Press TV reported.

However, these plans have been seriously hampered by�President Donald Trump�s recent decision to�exit the 2015 nuclear deal and re-impose sanctions on�the Islamic Republic.

To handle the problem, Iran now plans to�issue bonds to�fund oil projects and has already offered such projects both in�national and foreign currency-denominated bonds.

In the past, the government had issued sovereign state-guaranteed bonds to�pay its debts and improve the balance sheet of�the banking sector.

Under Islamic banking rules, no interest is paid on�bonds and buyers become stockholders and share in�the profits or losses of�the bond issuer.

The government hopes that the issue of�bonds denominated in�foreign currencies may check the dollar- and euro-buying spree caused by�the recent depreciation of�the national currency, the rial, and secure much-needed funds for�development projects.

On Saturday, Bijan Zangeneh unveiled plans to�jack up�oil output by�460 million barrels within�three years from�29 oilfields.

On May 9, US President Donald Trump said the US was walking away from�the�2015 nuclear agreement�with�Tehran, the JCPOA, which imposes strict restrictions on�Iran's nuclear program in�exchange for�the loosening of�economic sanctions.

Trump has said that he would re-impose US sanctions on�the country and threatened to�sanction foreign companies doing business with�Iran.

Following Trump's announcement, the leaders of�France, Germany and the United Kingdom expressed their regret over�Trump's decision in�a joint statement, stressing their countries' commitment to�the JCPOA.

They have also announced plans to�apply a 1996 law that would prohibit European companies from�complying with�any sanctions the US would reintroduce against�Tehran.

Washington�s European allies remain firmly committed to�the existing nuclear agreement with�Tehran and want to�work with�Russia to�avoid what they believe would be a disaster if the groundbreaking deal falls through.