WASHINGTON, May 5 (UPI) -- The Iranian oil sector is not yet open to U.S. interests and action there may face significant scrutiny from Washington, the State Department said.
Deputy Oil Minister Abbas Moqadam said Monday representatives from the United States are expected in Iran this week. If sanctions are lifted, Iran can expect "the presence of major international U.S. oil and gas companies," he said.
The Iranian government is pressing for more sanctions relief from a framework agreement slated to take force in mid-2015.
Jeff Rathke, a spokesman for the U.S. State Department, said he had doubts about the validity of the minister's comments.
"We've been quite clear that we don't consider Iran to be open for business yet, and that if there is any sanctionable activity happening, then we will take action," he said during a Monday briefing with reporters.
Iranian Oil Minister Bijan Zangeneh said in early April the Islamic republic could return as a dominant force in the Organization of Petroleum Exporting Countries once the nuclear deal is formalized. Iran holds the third-largest proven oil reserves among OPEC member states, behind Venezuela and Saudi Arabia, respectively.
Iran is limited to around 1 million barrels of oil per day in exports under the terms of a November 2013 deal with international powers. Exports could double if all sanctions are released later this year.
U.S, Iranian and other foreign diplomats are in New York this week working on finalizing a framework agreement that pulls Iran back from the brink of developing the technology needed to make a nuclear weapon. Abbas Araghchi, Iran's senior negotiator, said progress has been slow but steady.
"There are still a number of disagreements on certain issues and some brackets and loose ends, which are many," he said.
