WASHINGTON (Sputnik) — Earlier on Monday, Iranian Petroleum Ministry Director General of Strategic Planning Saied Qavampur said the country’s energy sector will require $150 billion in investment over the next five years.
Some sanctions imposed on Iran by the United States could be lifted as early as January 2016, according to media reports.
"Comprehensive reforms to the business environment are needed over the medium term to ensure that the expected lifting of economic sanctions has a significant impact on confidence and investment and places the economy on a higher and more inclusive growth trajectory," the release stated.
On July 14, Iran and the P5+ 1 group of countries signed an agreement to guarantee the peaceful nature of Tehran's nuclear program in exchange for sanctions relief. The group is comprised of the United States, Russia, China, France and the United Kingdom plus Germany.
