Sanctions relief to boost Iran petrodollars

TEHRAN August 3 (Shana)–A full lifting of sanctions imposed on Iran will help the country raise its oil revenues, a member of Tehran Chamber of Commerce said.

 Ferial Mostofi said full sanctions relief on Iran will further persuade foreign investors to finance projects in Iran.

She expressed hope that Iran’s nuclear talks with six world powers will end in the full lifting of sanctions.

“Economic sanctions have caused problems for the country’s economy, including banking and investment restrictions,” said Mostofi.

“Under the present circumstances, private companies are facing problems for investment and economic recession has created obstacles for some manufacturing companies. Removal of the sanctions can change the present conditions,” she said.

Mostofi said Iran, rich in oil and gas, can be a proper country for foreign investment.

She said that European countries are willing to invest in Iran because they are already facing economic recession.

“The world depends on our natural resources including oil and gas…Unfortunately, foreign investors’ trust for investment in Iran has declined sharply,” she said.



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