Australian Companies May Invest In Iranian Oil, Gas
Industries - Min
July 31, 2000 TEHRAN (AP)--Australian Foreign Minister Alexander Downer
said Monday that his country was looking to invest in Iran 's oil and gas
industries, despite U.S. legislation banning large investments in the Iranian
Downer, speaking to reporters during his two-day visit to Iran , said
that "a number of Australian companies are particularly interested
in investing in Iran 's gas and oil sectors." He refused to name the
"As far as the U.S. sanctions are concerned, the United States
has taken a benign view of a number of European investors in Iran , so
we do not expect to be treated any worse than the Europeans have been treated,"
The United States has strongly discouraged large investments in Iran
, a nation it describes as a sponsor of terrorism. The Iran -Libya Sanctions
Act passed by Congress bars U.S. companies from investing more than $20
million in Iran or $40 million in Libya, and threatens to punish foreign
companies that do so. The bill has been largely ignored by non-U.S. companies.