John K. Defterios, Anchor and Emerging Markets Editor, CNN International speaks during the 2012 of the World Economic Forum at the congress centre in Davos, Switzerland, January 27, 2012. (Wikipedia/Michael Wuertenberg)
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A leading CNN anchor and expert in emerging markets believes that the U.S. Treasury will probably lift sanctions on Iran in a couple of years and this would encourage oil companies to deal openly with the Persian country.Defterios, who attended a diaspora conference in Beirut organized by the Foreign Ministry, stressed that Iran is the last frontier market in the world with 80 million consumers, highly educated population and the highest combined oil and gas reserves in the world. Despite the lifting of sanctions, most European and U.S. oil companies are reluctant to move to Iran as long as the U.S. Treasury maintains the monetary sanctions on the country.Defterios, who traveled to Iran twice over the past six months and interviewed the country's oil minister, said some people have great hope that the economy could grow 6 to 7 percent a year over the next 10 years. Iran has been outside the market for four years".Defterios noticed during his visit to Iran that Iranian officials are determined to pump more oil and have set up plans to produce 4 million barrels of oil by the end of 2016 .
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