KMAN Publication Incorporation Interdisciplinary Studies in Society, Law, and Politics 3060-5687 5 Serial Number 19 2026 12 01 Legal Implications of Security Risks in the Investment of Multinational Companies in Iran's Oil and Gas Industries Legal Implications of Security Risks in the Investment of Multinational Companies in Iran's Oil and Gas Industries 1 20 EN Journal Article 2025 10 02 <p>This study aims to analyze the legal implications of security risks on the investment of multinational companies in Iran’s oil and gas industries. Using a descriptive–analytical approach grounded in legal documents, domestic legislation, and international arbitration practices, the research identifies political instability, international sanctions, physical and cyber threats, and regulatory inconsistency as the primary factors undermining investment security in Iran. Each of these risks may constitute a violation of the fundamental principles of investment protection—namely the Fair and Equitable Treatment (FET) and Full Protection and Security (FPS) standards—and thus entail international liability for the host state. Examination of the Foreign Investment Promotion and Protection Act (FIPPA) reveals that, despite its formal recognition of investor rights, the lack of regulatory clarity, overlapping institutional authorities, and inefficiency in enforcing foreign arbitral awards continue to weaken legal safeguards. At the international level, Iran’s non-membership in the ICSID Convention and limited cooperation with global investment insurance institutions such as MIGA have further reduced investor confidence. The findings underscore that comprehensive legal reform, harmonization with international standards, and the development of autonomous arbitration and insurance mechanisms are essential prerequisites for ensuring investment security and attracting sustainable foreign participation in Iran’s strategic oil and gas sector.</p> https://journalisslp.com/index.php/isslp/article/download/454/881