Dutch airline KLM and cargo shipping leader CMA CGM have joined the growing list of major multinational companies ending their business with Iran because of reimposed U.S. sanctions.
Since early May — when President Trump withdrew the U.S. from the Obama-era nuclear agreement with Iran — shipping firm A.P. Moller-Maersk of Denmark, French carmaker PSA Group and French oil major Total have also suspended multibillion-dollar projects.
CMA CGM — the world’s third largest container shipping fleet, according to the United Nations — announced on Saturday it would stop its work in Iran for fear that new sanctions could disrupt its U.S. business.
“Due to the Trump administration, we have decided to end our service for Iran,” CMA CGM chief Rodolphe Saade said during an economic conference in southern France.
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WNU Editor: The European governments are trying their best to salvage the Iran nuclear deal, but their own companies are bailing out, knowing too well that nothing can save this agreement. A prediction .... within a month or two all other major multinationals will be out of Iran.