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A senior Iranian oil official advised foreign investors willing to step in the country not to worry about investing in Iran. saying embargoes are not retroactive and do not affect previously sealed deals.
Addressing the opening ceremony of the 13th Iran Petrochemical Forum here in Tehran on Saturday. Amir Hossein Zamani Nia. deputy petroleum minister in international affairs and trading. said the lack of confidence of investors in investing in Iran after Donald Trump`s taking office in Washington was temporary and talks of international companies are on the go with Iranian partners.
Sanctions are not retrospective and businesses created before imposition of sanctions are not affected by restrictions. he said.
There are no worries as per supply of parts and services in case of sanctions` snapback and all the loans and goods shall be handed back as agreed in contracts. the official added.
He also said the availability of advanced infrastructure in energy sector in Iran including roads. railway. ports. etc. as well as young and educated labor are capitals that have made Iran a competitive and attractive destination for investors.
