US: It is Still Too Early for Trade with Iran

A spokesperson for the U.S. State Department on Monday, May 3, reacted to reports about a U.S. oil delegation traveling to Iran, stating that it is still too early for trade with Iran. Jeff Rathke, in response to a report by Mehr News Agency regarding a U.S. oil delegation visiting Iran this week, said that confirming this news is very difficult. He added that 'no names of individuals or companies are mentioned in this report.' Rathke also stated that if any activities violate sanctions against Iran, the U.S. government will take action. Mehr News Agency reported on Monday, citing the Deputy Minister of Oil, that a U.S. oil delegation is expected to visit Tehran this week to meet and discuss with several officials and producers in Iran's oil industry. Abbas Sheri-Moghadam, Deputy Minister of Oil and CEO of the National Petrochemical Company, told the news agency that 'it is expected that with the visit of this U.S. oil delegation to Tehran and if the oil sanctions are lifted, we will see the presence of major international oil and gas companies from the U.S. in Iran in the future.' Mohsen Salehi-Nia, Deputy Minister of Industry, Mine and Trade of Iran, also stated on April 25 that there is no prohibition on the entry of American automakers into Iran's automotive industry. In recent weeks, following the achievement of a general framework towards a comprehensive and final agreement between Iran and the six world powers regarding Tehran's nuclear program, economic delegations from several European countries, including Germany, Italy, France, and the Czech Republic, have visited Iran and discussed investment prospects with Iranian economic officials. Since Mahmoud Ahmadinejad's presidency and the intensification of sanctions against the Islamic Republic, Western companies have begun to leave Iran, so that according to the U.S. Energy Information Administration, Iran has not been able to bring any new oil field into operation since 2007. The government of Hassan Rouhani hopes that by resolving Tehran's nuclear case, these sanctions will be lifted, paving the way for foreign investment to alleviate Iran's economic problems. Bijan Namdar Zangeneh, the Minister of Oil of the Islamic Republic, announced last winter that if sanctions are lifted, Tehran could increase its oil exports by up to one million barrels more than current production within a few months. Iran and the six world powers, including the U.S., Russia, China, France, and the UK, along with Germany, have until the end of June to overcome their differences regarding the scope of Tehran's nuclear program and how to lift sanctions, and to sign a final agreement to resolve ambiguities related to this program.