An Iranian bank plans to target foreigners with the first fund dedicated to investing in the country’s oil and gas industries, in anticipation of a further easing of sanctions against the Islamic republic. Kardan Investments is preparing to set up a Global Energy Fund to invest in projects to develop Iranian oil and natural gas fields and joint ventures between local and international oil companies, Chief Executive Officer Majid Zamani said in an interview in Tehran. Kardan will seek to sell shares in projects and ventures to institutional investors in Europe, he said. “ Iran ’s oil and gas industry needs a lot of investment, and not all of this can come from inside Iran,” Zamani, a former consultant to the Washington-based World Bank, said March 12. “A lot of it has to come from outside.” Sanctions imposed by the U.S. and European Union have deterred many foreign companies […]