Iran can make more of its energy riches: U.S. envoy

SOFIA (Reuters) – Iran could make more of its vast resources if relations with the west improve enough to allow more investment in its energy sector, the United States’ new Special Envoy for Eurasian Energy, Richard Morningstar, said on Saturday.

The world’s fourth-largest crude producer also sits on the world’s second-largest gas reserves but U.S. sanctions imposed by the Bush administration have hindered gas export growth.

New U.S. President Obama has ended the policy of isolation and attempted to engage Iran over its disputed nuclear program, but tensions between the two countries remain strained.

Reuters