Last updated: February 17. 2013 9:20AM - 3 Views

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(AP) Iran's energy minister is working to woo Indian businesses to invest in his nation's sanction-hit economy.

Majid Namjoo told a meeting of Indian business leaders Wednesday that there were huge opportunities to do business with Iran's private sector that remain largely unaffected by Western sanctions.

The United States and the European Union have imposed sanctions on Iran to deter it from pursuing a nuclear weapons program. Iran insists its nuclear program is for peaceful purposes.

Energy-starved India remains one of Iran's biggest oil importers and has been actively searching for investment deals with the country as an ad hoc barter arrangement to pay for its oil bills.

Associated Press
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