Iran encourages U.S. companies to invest in oil sector

BUSINESS

Iran encourages U.S. companies to invest in oil sector

The Associated Press Published Sunday, March 13, 2016 8:10AM EDT

In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. (AP/Vahid Salemi)

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TEHRAN, Iran -- 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.