Zanganeh:

Trump prevents US companies from coming to Iran

TEHRAN (defapress) – Iran’s oil minister stated that Iran does not prevent American companies from doing business in the country; rather it is Trump who creates the obstacles.

News ID: 66491

Date: 17 October 2017 - 15:05

Iran’s Minister of Petroleum Bijan Zanganeh questioned Trump asking why he is concerned that Europeans take money from Iran and why he does not allow American companies to benefit from Iran.

Zanganeh made the remarks Tue. speaking to the reporters following his meeting with South Korean Minister of Land, Infrastructure and Transport Kim Hyun-mi, adding that Trump prevents American companies to enter Iran’s market, they are not blocked by Iran.

"We are prepared to negotiate with American corporations on developing petroleum and gas resources. Mr. Trump does not need to feel so concerned about this.” The Iranian official stated.

Referring to his meeting with Korean Minister, Zanganeh added that they discussed petroleum and gas condensate exports and the challenges of cash transfer.

It was decided that Korea’s infrastructure minister report the issue to the finance minister of the country. In addition, a delegation from Iran will travel to Korea in order to resolve the issue.

Iran’s oil export to South Korea is about 120000 barrels per day which includes gas condensate as well. If the problem of cash transfer isn’t solved, Iran will be forced to reduces it oil exports to Korea and consider another country.

Korea does not have any debts, the problem lies in paying foreign currency, Zanganeh stated, adding "Some of the money is paid in Euro, and some in Korean national currency, but we prefer Euro to comprise the bigger share.”

The two officials also discussed the participation of Korean companies in Iran’s market who were active in the past, and are now willing to continue their cooperation.

As stated by Iranian minister, Korean government has allocated a line of credit worth 20 billion dollars, financing Korean companies to partake in Iran’s market.

Zanganeh further negotiated on LNG and investments on petroleum and petrochemical programs. Koreans also take part in refinement projects. They are currently cooperating in Isfahan Refinery Complex.

Kim Hyun-mi, the South Korean minister has traveled to Tehran to attend UNESCO's Strategic Partnership Meeting.