French Oil Company Total Withdraws from Iran in Wake of U.S. Sanctions

HeadlineAug 21, 2018

French oil giant Total has withdrawn from a nearly $5 billion gas project in Iran, as a result of the Trump administration’s reinstatement of U.S. sanctions against foreign companies doing business with Iran. The reinstatement of sanctions comes after President Trump pulled out of the landmark 2015 Iran nuclear deal. Earlier this month, Trump threatened European allies, tweeting, “Anyone doing business with Iran will NOT be doing business with the United States.”

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