Economics
Iran Sentences Three People to Death for Corruption
- Verdict comes as central bank gets more power to steady rial
- Iran economy struggling as U.S. sanctions batter the currency
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A notorious Iranian gold dealer known as the “Sultan of Coins” was among three men sentenced to death this week in the strongest warning yet to officials and merchants not to exploit the country’s financial troubles as the next round of U.S. sanctions loom.
The verdicts came a day after the central bank was given more powers to intervene in currency markets to help stop a slide in the rial that has gathered pace since the U.S. in August reimposed a ban on the Islamic Republic trading in dollars.