Foreign Investment in Iran Oil, Gas Sectors Unlikely Without Joining FATF

As long as the Financial Action Task Force, the global anti-money laundering watchdog, does not remove Iran from its blacklist, the country cannot have any word in the global oil and gas markets, an energy analyst said.

"Pinning hopes on attracting foreign investments without joining the global banking system is nothing more than wishful thinking," Mahmoud Khaghani, a member of the Iranian Association of Energy Economics, was quoted as saying by ILNA.

If Iran cannot give long-term banking guarantees to international companies, it is very unlikely that they would show any interest in cooperating with Iranian firms, he added.

The official noted that the current policy of not complying with FATF regulations has isolated Iran and the country cannot play any role in regional or global oil and gas developments.

“Since the onset of military conflicts between Russia and Ukraine, oil and gas exporting states, such as Azerbaijan, Turkmenistan, Kazakhstan and the Persian Gulf states have multiplied their oil and gas revenues by capturing Iran’s market share,” he said. - Financial Tribune