France to update firms on doing business with Iran

Reporting "Asre Bazar'", according to Reuters, French businesses which seek to tap the Iranian market have been invited by the Medef business group, officials from the foreign ministry, finance ministry and France’s business office in Tehran to attend a meeting on Tuesday for an “analysis of the consequences of the non-certification” by US President Trump of the 2015 Iran nuclear accord.

“We’re still assessing how firms are reacting to the Trump decision, but we are trying to not be overly alarmist with them,” said a French diplomatic source to Reuters.

According to a notice on the Medef website, the discussion points include an explanation on the next steps at the US Congress, the position of the accord’s other signatories - UK, France, Germany, Russia, China and the European Union - and the immediate consequences on companies already operating in Iran.

US President Donald Trump refused to certify Iran nuclear deal despite the IAEA’s confirmation of Iran’s compliance in all of its eight reports. Trump has given the US Congress 60 days to decide whether to re-impose economic sanctions on Tehran that were lifted under nuclear agreement.

Following Trump’s decision, French President Emanuel Macron in a joint statement with the British prime minister and German Chancellor, voiced his support for the Iran nuclear deal. Macron also voiced EU’s commitment to the agreement on Friday in Brussels.

Meanwhile, US Secretary of State Rex Tillerson in an interview with Wall Street Journal on Thursday assured that the Trump administration isn’t seeking to disrupt European business deals with Iran.

French businesses were among the first European companies which signed deals with Iran following the implementation of the nuclear deal. Multi-nationals Total and Peugeot along with dozens of smaller French firms have been doing business with Iran since the nuclear accord and the lift of sanctions.

Source: Mehr