The red status of oil investments in Iran due to the unresolved financing issue.
The head of the Energy Commission of the Iran Chamber of Commerce announced the red status of oil investments in the country due to the lack of foreign investment.
Arash Najafi told the ILNA news agency on Tuesday, July 5th that no direct investment is made with their own capital, and added that all investors enter projects through banks based on their financial capacity. Foreign banks, regardless of sanctions, refrain from financing due to Iran being on the black list of the Financial Action Task Force.
Iran’s status in terms of financing has been raised several times in the debate among the candidates for the 14th presidential election, and some candidates have criticized Iran’s presence in the black list of this institution and preventing the approval of laws to join it.
The Iranian Chamber of Commerce official further stated that investors do not enter when they cannot provide the necessary guarantees for a project.