Sanctions on Iran 's energy sector will hinder the goal of energy security and price stability, as the Islamic republic is deprived of much-needed investment in its oil and gas sector to achieve production growth, the head of the International Energy Agency said Tuesday.

"Iran has huge potential but they need investment...the sanctions are impacting on the necessary investment into Iran for future capacity increase," Nobuo Tanaka, executive director of the Paris-based energy watchdog, told reporters on the sidelines of the Oil & Money conference in London.

Along with energy security, the issue of nuclear non-prolifaration is hugely important for global security and the two issues should be balanced, Tanaka added.

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