Iran says US companies welcome to invest in oil sector

Staff Writer
Columbus CEO

TEHRAN, Iran (AP) — Iran's oil minister says U.S. companies are welcome to invest in the oil and gas industry.

State-run Press TV on Sunday quoted Bijan Namdar Zangeneh as saying that "in general, we have no problem with the presence of American companies in Iran."

He said it is the U.S. government that is "creating restrictions for these companies," without elaborating.

He also confirmed that Iran's state-run oil company has held talks with General Electric.

All sanctions related to Iran's nuclear program were lifted in January under a landmark agreement reached with world powers, but the U.S. maintains sanctions related to Iran's ballistic missile program and its support for State Department-designated terrorist groups.