TEHRAN, May 16, 2025 (BSS/AFP) - Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including in the oil and gas sector.

"We have no ban on the economic presence of American companies in Iran," Araghchi said, attributing the lack of US business activity to primary sanctions imposed by Washington.

"This ban has been imposed by the United States itself," he said.

"If American companies wish to invest in Iran's economy, the US must lift its own primary sanctions."

His remarks come after President Donald Trump said Washington was "getting close" to a new nuclear deal with Tehran to replace the one he abandoned during his first term in 2018.

The longtime foes have held four rounds of Omani-brokered negotiations since April 12 in their highest level of engagement since Trump's walkout effectively scuppered the 2015 deal.

Araghchi said US firms could enter key sectors of Iran's economy, including its oil and gas industry, but emphasised that if an agreement is reached, the ball be in Washington's court to allow US firms to operate in Iran.

Despite his diplomatic push, Trump has reinstated his "maximum pressure" policy against Iran since returning to office in January.

On Wednesday, the US Treasury Department targeted individuals and entities involved in Iran's ballistic missile programme with sanctions.

Araghchi reiterated Thursday that Tehran aims for the "lifting of sanctions" in its talks with the US, "apart from affirming Iran's nuclear rights."

He has previously said on social media that Iran presents a "trillion-dollar opportunity" that could be open to US enterprises.