Iran says French oil company has withdrawn

iran says french oil company has withdrawn
Iran says French oil company has withdrawn
French petroleum company Total has officially left Iran according to the government in Tehran.
Iran’s oil minister made the announcement on Monday, citing U.S. threats to impose sanctions on any companies doing business in Iran as the reason.

Bijan Zanganeh said the process to replace Total was underway and that the French firm was no longer working on its contract to develop phase two of its South Pars gas project.

The Oil Ministry’s website SHANA also quoted Zanganeh as saying that Total had announced its plans to leave more than two months ago.

The United States reimposed sanctions on Iran after Washington withdrew from the 2015 nuclear agreement between Tehran and world powers. The agreement had imposed limits on Iran’s nuclear ambitions in exchange for sanctions relief.

Read on EuroNews

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About HEDGEaccordingly.com