Unnecessary foreign visits of officials of state-owned companies have been banned in Iran, according to the instructions of Iranian Vice President Eshaq Jahangiri.

Axar.az reports citing IRNA.

Any unnecessary, additional trips at the expense of state-owned companies are prohibited.

This instruction was given for the purpose of implementing the law on the control over decrease of expenditures and saving money.

Failure to comply with the instruction is considered as illegal possession of state property and will be prosecuted under the law.

Severe devaluation of Iran last summer and the US sanctions in November 2018 caused economic stagnation.