Red alert for oil investments in Iran due to unresolved FATF issues
The head of the Energy Commission of the Iranian Chamber of Commerce announced a red alert for oil investments in the country due to the lack of foreign investment.
On Tuesday, July 5, Arash Najafi told ILNA news agency that no investor enters investments directly with their own capital and added that all investors, considering their financial capability, engage in projects through banks. Foreign banks, regardless of the sanctions issue, refrain from investing because Iran is on the Financial Action Task Force (FATF) blacklist.
Iran’s status with the FATF has been raised several times during the debates among the candidates of the fourteenth presidential election, and some candidates have criticized Iran’s presence on this institution’s blacklist and the prevention of passing laws to join it.
The official from the Iranian Chamber of Commerce further clarified that investors do not enter projects when they cannot secure the necessary guarantees.
