Europe’s Leading Companies Are Bowing to U.S. Sanctions
Europe’s largest companies are slowly moving into compliance with US.. sanctions on Iran, departing from the market they entered with the signing of the nuclear deal in 2015. Airbus, Maersk, Renault, Peugeot, Total, and Siemens are but a few of the companies that have begun or have completely divested from Iranian business dealings in accordance with U.S. sanctions. Of the 136 European companies conducting or working to conduct business in Iran, 52 have already stated that they will cut ties, including 19 in the Global 500. Many firms, however, have not yet indicated their plans and still have until November 4 to do so. 76 have not yet made an announcement while only 6 have said that they will not comply with U.S. sanctions, none of which are in the Global 500. Current numbers indicate that the U.S. departure from the nuclear deal will come with significant economic leverage in Iran and elsewhere.