Tag Archives | France

Video: Why one French Company won’t Leave Iran

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The US sanctions on Iran are forcing many European companies to rethink their investment plans. But some small businesses are choosing to deal with Iranians, rather than Americans. Al Jazeera‘s David Chater went […]

Renault Likely to Leave Iran Because of US Sanctions

Renault SA is shaping up to be the latest European company to fall victim to US President Donald Trump’s renewed sanctions on Iran, as the automaker has raised the possibility of pulling out of Iran for fear of US sanctions. Iran operations are likely to be put on hold to comply with US sanctions, Renault […]

Iran Joins Club of Gas Odorant Producers

Iran has joined France and Russia as the third producer of gas odorant, mercaptan, an official said. Mercaptan is used in the natural gas industry as an odorant, due to its ideal compatibility with methane. Its characteristic “rotten eggs” smell is widely known by natural gas customers as an indicator of a possible gas leak, […]

MAPNA Ready to Replace Total in South Pars

Iranian holding company MAPNA Group voiced readiness to take over a project on development of the country’s South Pars gas field as French company Total has backed out of its contract with Iran for fear of the US sanctions. In an interview with Tasnim, CEO of MAPNA Abbas Aliabadi said his holding is prepared to […]

French Shipping Group to Pull Out of Iran

By John Lee. French-based shipping group CMA CGM has announced that it is ceasing its Iranian operations, following the threat from the US to blacklist companies doing business with Iran. CMA CGM Chief Executive Rodolphe Saade is quoted as telling a press conference: “Due to the Trump administration, we have decided to end our service […]

E3 Agrees to Replace Dollar in Iran Trade: Lavrov

Russia says the three European parties to the Iran nuclear deal have agreed to continue trade ties with Tehran without the US dollar. The European parties to the Joint Comprehensive Plan of Action –Britain, France and Germany- have agreed to maintain trade with Iran independent of the US dollar, Russia’s Foreign Minister Sergei Lavrov said. […]

Renault to Remain in Iran despite US Sanctions

French carmaker Renault will maintain its presence in Iran despite the threat of renewed US sanctions, CEO Carlos Ghosn said. “We will not abandon it, even if we have to downsize very strongly,” Ghosn said at the annual shareholders’ meeting in Paris on Friday, AFP reported. “When the market reopens, the fact of having stayed […]

Most French Firms ‘Unable to Stay’ in Iran

Most French Firms ‘Unable to Stay’ in Iran due to US Sanctions: Minister French Finance Minister Bruno Le Maire said that after the US imposes new sanctions on Iran most French companies would be unable to continue business in Iran because of problems over payment, also saying that the US cannot be the “planet’s economic […]

Peugeot-Citroën to Pull Out of Iran

French car maker PSA Group has said it will pull out of two joint in Iran following Washington’s withdrawal from the Iran nuclear deal. In a statement, the maker of Peugeot and Citroen cars said: “After signature of the Joint Comprehensive Plan of Action (JCPOA) on July 14th, 2015 and the lifting of international sanctions […]

Total to Unwind Iran Operations if no Waiver

On 4 July 2017, Total, together with the other partner Petrochina, executed the contract related to the South Pars 11 (SP11) project, in full compliance with UN resolutions and US, EU and French legislation applicable at the time. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian […]

Air France reduces Iran Flights

By John Lee. Air France is reported to be cutting its Joon service between Paris and Tehran to the summer season only. According to a report from Reuters, the company blames weak demand since it began operations two years ago. It’s Joon subsidiary was launched in December 2017 and is aimed at young people. (Source: […]

Video: Will US withdraw from Nuclear Deal?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. France and the United States have a long history that goes back centuries. From the American revolutionary war to the Statue of Liberty – the two countries have had strong cultural and political […]

Total Finalizes Tenders for SP11 Development

France’s energy giant Total has carried out tendering for subcontracts and other preparatory work at its South Pars Phase 11 project in Iran, the CEO of Pars Oil and Gas Company (POGC) said. Speaking to Shana, Mohammad Meshkinfam announced that the value of the tenders held by the French major surmounts €700 million. “Most of […]

Total to Seek Waiver If US Reimposes Sanctions on Iran

Total CEO Patrick Pouyanne said on Sunday that the French oil and gas company would seek a waiver to continue the development of an Iranian gas field should the United States decide to re-impose sanctions. Speaking in an interview with The National newspaper while on a visit to the United Arab Emirates, Pouyanne said Total’s […]

Questions as Iranians claim US Licensing Plane Sales to Iran

By Saeed Jalili for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Questions abound as Iranians claim US Treasury licensing plane sales to Iran Questions have emerged about whether the US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued new licenses to Canadian plane manufacturer […]

Free Trade Zones to Attract $4.5bn in FDI

The secretary of the Supreme Council of Iran’s Free Trade, Industrial and Special Economic Zones said the country has signed new contracts with foreign companies, attracting $4.5 billion worth of investment in free trade zones. “Investors from Turkey, China, Italy, France and South Korea have invested in (Iran’s) free zones…,” Morteza Bank said on Saturday. […]

300 Peugeot Pars on their way to Iraq

By John Lee. By the end of this year IKCO will strengthen its presence in Iraq, dispatching 300 Peugeot Pars passenger cars, equipped with automatic gearboxes. “Iraqi market is one of the foremost export markets for IKCO,” said Hassan Golchubian, IKCO Export Director of the Middle East and Africa, adding that as other markets, Iraq […]

France to Urge Firms to Do Business in Iran

France will encourage its firms to do business in Iran despite nuclear deal limbo, a senior French finance official said on Thursday. “France will encourage its firms to do business in Iran” despite uncertainty over the landmark 2015 nuclear deal putting the business environment in limbo, Joffrey Celestin-Urbain, director of bilateral relations at the French […]

Total Considers Measures to Protect Business in Iran

By John Lee. Total’s CEO Patrick Pouyanné (pictured) has said that the South Pars project was “progressing well, without delay, and [Total] continues to work, even if the situation with the American Congress is rather vague.” He added that he does not consider any future snapback of US sanctions to be automatic game-over for the […]

France to Finance Exports to Iran, Sidestepping Sanctions

France will start offering euro-denominated credits to Iranian buyers of its goods later this year, a move to bolster trade while keeping it outside the reach of US sanctions, the head of state-owned investment bank Bpifrance said. “We put a lot of preparation into this in 2017 and we keep on working, every single day, […]