May 10, 2018 / 7:05 PM / a year ago

Oil minister says Iran needs foreign investment, but can survive without it - TV

Iran's Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, November 30, 2017. REUTERS/Heinz-Peter Bader

ANKARA (Reuters) - Iran’s oil minister told state television on Thursday that foreign investment was needed to develop its oil industry, but that it could survive if foreigners decided to stay away after the U.S. decision to pull out of a multinational nuclear deal.

“If foreigners invest in Iran, it will accelerate the development of our oil sector but, if not, we will not die,” said Bijan Zanganeh. “I personally prefer a stable crude price of $65 per barrel.”

Writing by Parisa Hafezi; Editing by Kevin Liffey

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