Expand / Collapse search
Watch TV
Menu

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Middle East

Official: American oil companies face no ban by Iran

Associated Press
Published | Updated

TEHRAN, Iran – Iran's oil minister says there is no ban on American companies working in Iran's oil industry.

The semi-official ILNA news agency on Tuesday is quoting Bijan Zanganeh as saying: "American companies face no ban for entering our oil industry."

However, Zanganeh said American companies "have not directly applied" to work in Iran's oil industry, so far.

This is the first such remark by Iran after an executive order by U.S. president Donald Trump on Friday banned immigration and visa processing for Iranians alongside six other Muslim countries.

In January, Iran's Oil Ministry published list of 29 international companies qualified to bid for oil and gas projects following the lifting of sanctions under a landmark nuclear accord that went into effect last year.