Iran signs oil deal with UK group as France's Total exits - News Summed Up

Iran signs oil deal with UK group as France's Total exits


The U.S. said it would reinstate sanctions that were lifted under the deal, which would potentially bar European companies from doing business in both the United States and Iran. French oil and gas giant Total has decided to cancel a multi-billion-dollar project in Iran unless it is granted a waiver by U.S. authorities. The 2017 contract for new development at the vast South Pars gas field was the first major gas deal signed with Iran following the 2015 nuclear deal. Major European powers and Tehran committed this week to keep working together to save the Iran nuclear deal. We're not going to be the allies of Iran against the United States of America", Macron said in a news conference in Sofia, Bulgaria.


Source: ABC News May 17, 2018 07:18 UTC


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