Despite President Donald Trump’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, his European allies are reluctant to follow his lead, reaffirming their commitment to the agreement instead.
Washington’s decision to kill the deal does not seem to affect American business, while the introduction of “secondary sanctions” against Tehran would be detrimental to European heavyweights operating on Iranian soil. In response to the US decision, European Commission President Jean-Claude Juncker stated that the 28-member union would amend its Blocking Statute in order to include Washington’s anti-Tehran sanctions in the regulation to shield its businesses.
While some companies have opted for leaving the Iranian market to comply with US regulations and avoid facing sanctions, others haven’t decided yet on what to do, probably waiting for the EU to find a way to sidestep Washington’s restrictions.
Here’s a wide-ranging list of European companies that are working in Iran despite US sanctions:
France (38):
Accor; ADP; ADYA FOILS; Airbus (the plane-maker may leave Iran in the immediate future); Alliance Export; ALSTOM; Auto Chassis International Pars; Avicenne Gerontologic; Balmoral Intl SAS; Bel Rouzaneh Dairy; Boeing France (the airplane-manufacturer may withdraw from Iran in the near future); Bureau Veritas; CBE Group; CGG; Cohen Amir-Aslani; Danone; Eiger International; Engie; Faurecia Azin Pars Seating; Gaz de France (GDF SUEZ); GEA; Golden Group; Hyper Market Maf Pars; Intertek International Limited (SAI); Negotium Partners; Nexans Co.; PSA Group; Renault; RGG Capital; Schneider Electric Co. (Telemecanique Iran); SNCF; Suez Environnement; Thales; Total (the oil and gas giant is leaving Iran); Vecteur Cast; Vinci Technologies; Vision France Consulting; Well Services of Iran (WSI — Schlumberger Methods).
Germany (35):
AIOTEC GmbH; Alldos Eichler GmbH; Allianz (an international financial services provider, which is pulling out from Iran); Bada AG; Bayer Parsian AG; BASF Iran (PJS) Co.; BASF’s Wintershall; Butting GmbH (CamalAmiran Co.); COMMERZBANK; Eisenmann Co.; Eltherm GmbH; Evonik Iran; Ferrostaal; Germanischer Lloyd (GL); HERRENKNECHT; ILF Consulting Engineers Pars (PJSC); KOBOLD Messring GmbH Iran; KROHNE Iran; KSB Aktiengesellschaft; Linde Co.; Minimax GmbH & Co. KG, Iran Branch Office; Minova CarboTech Iran Branch; Nivea; PM Piping (Project Materials Group); Regalbuto Steel GmbH; Rieckermann GmbH (Iran Liaison Office); Salzgitter Mannesmann International Tehran; Siemens Co. (the tech giant is leaving the Iranian market to comply with US regulations); TGE Gas Engineering GmbH; TUV NORD Iran (RWTUV Iran); Uhde GmbH Iran Branch; Volkswagen; WIKA Instrumentation Pars Kish Ltd.; Wintershall Iran Holding GmbH.
Italy (21):
AGIP; AlItalia; Ansaldo Energia SpA; CONDOTTE D’ACQUA; Danieli Cina (the steel manufacturer has halted work in Iran); Edison International; Enel; Eni (the energy company is leaving Iran); Ferrovie dello Stato; Fiat-Chrysler; FINCANTIERI; Fincantieri SpA; GEOLOG International BV — Iran; ITINERA; Kinetics Technology (KT); Saipem; Seli; SSE SpA Iran Branch; Tecnimont SpA; Tectubi Raccordi S.p.A.; TELECOMA ITALIA GROUP.
UK (16):
Atlantic International Operation Limited; BG — British Gas Iran; BHP Billiton; BP Iran Ltd.; Cameron Integrated Services (South Well Drilling Engineering Co., SWDEC); Daimler; Energy Deployment Co. Ltd. (EDC); Euroinvest; Flowstream International Ltd.; KBC Iran Office; Lloyd’s Register Group Ltd; Lloyd’s of London (the insurance market may halt cooperation with Iran in the short term); Pergas International Consortium; Royal Dutch Shell; UK P&I (the mutual steam ship assurance association may pull out from Iran in the near future); Welding Alloys Group (Aliaj Joosh Iran).
Switzerland (8):
ABB (PJSC); BUCHER; Burckhardt Compression Tehran SSK; MSC BASEL (the shipping giant may stop cooperating with Iran in the short term); SGS Iran Limited; Sulzer Co.; Weatherford; ZURICH INSURANCE.
Spain (7):
Esproenko Pars; JC Valves; Sercobe Co.; Star Petroleum Middle East; TAIM WESER Iran Office; Tubacex Service Solutions Pars (TSS Iran); Tubos Reunidos Group.
Denmark (6):
Ecco; Haldor Topsoe; LEO Pharma; Maersk (the container shipping company is abandoning Iran); Novo Nordisk; Welltec Oilfield Services Iran (Touse Mohandesi Fanavari Chah Mayadin).
Norway (6):
Barwil; Fugro-Geoteam AS; Hydro; ROXAR Norway; Saga Energy (the energy firm is leaving Iran); SPT Group Norway.
Czech Republic (6):
Bresson Energy; Energo-Pro; Moravia Steel; Ostroj; Solek Holding; SOR Libchavy.
The Netherlands (5):
AkzoNobel; BAF Valves Pars; ENI Iran B.V.; Royal Dutch Shell; Zagroz Equipment Engineering Co.
Sweden (4):
Alfa Laval Iran Co. Ltd.; Atlas Copco Iran; Camfil Farr Co.; NYNAS.
Austria (2):
Christof Industries — Geety Sanaat Mayestan Co. (GSM); Oberbank; O.M.V.
Finland (2):
Metso Iran (Garno Group); Styrochem of Finland.
Macedonia (1):
ABE Power Co.
Poland (1):
PGNiG (the national oil company has suspended a project in Iran).
Romania (1):
Robust Star Group.
Cyprus (1):
Sezzol Group.
Source » sputnik
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