French energy company abandons Iran project after US about-face.....

It's already happening.
"LONDON—European firms have started pulling back investment and abandoning commitments in Iran, responding to a decision last week to reimpose broad American sanctions on Tehran by year end.

Total SA, a French oil giant, said Wednesday it had halted work on an Iranian natural-gas project and warned it may have to pull out altogether from its plan to invest $1 billion in the field. Some shippers of Iranian oil have said they are ceasing to facilitate such trades because of the new sanctions. Insurance companies are studying whether they may have to reduce or stop their underwriting on the Islamic Republic’s shipments.

Iran, which is the world’s fifth-largest oil exporter and the holder of the second-largest gas reserves in the world, was seen as a huge investment opportunity for companies operating in the industry.

But last week, the U.S. said it would pull out of a deal that lifted sanctions on Iran in exchange for Tehran curbing its nuclear ambitions".

European allies have said they won’t pull out or enact new sanctions, but many European firms—with U.S. businesses, ties or bank accounts—could be subject to Washington’s sanctions enforcement. Trump administration officials have publicly warned European firms to start to wind down their dealings, but has given companies several months to exit Iran.

After President Donald Trump's big gamble to pull the U.S. out of the Iran nuclear deal, the focus now shifts to Tehran, the Iranian people and America's allies. Gerald F. Seib explains the high stakes. Photo: Getty
In response, Iran’s oil minister Bijan Zanganeh accused U.S. president Donald Trump of working to favor American oil producers with the complicity of rival countries in the Organization of the Petroleum Exporting Countries.

Total, in a statement about its Iranian business on Wednesday, said U.S. banks account for 90% of its global financing, while 30% of its shareholders are American. “Total has always been clear that it cannot afford to be exposed to any secondary sanction, which might include the loss of financing in dollars by U.S. banks for its worldwide operations,” it said in its statement.

Total said it would seek a waiver from Washington for the gas project, but wouldn’t continue with it if it didn’t receive one. Total has also become a substantial buyer of Iranian crude in the past two years since sanctions were lifted. It had previously said it wouldn’t seek an exemption for those purchases. It declined to comment beyond its statement.

In recent days, Wintershall AG, a German energy firm, told its Iranian partners it may not find funding for Iranian oil projects because it relies on its parent company, BASF AG , which has huge chemical operations in the U.S., according to a person familiar with the matter. A Wintershall spokesman said it strictly complies “with all national and international laws and regulations.”

On Wednesday, Maersk Tankers AS, one of the world’s largest oil-shipping companies, said it would stop taking assignments for Iranian oil shipments. It said it would wind down any existing customer orders by early November, the deadline set by Washington for the return of oil-related sanctions, a company spokesman said on Wednesday.

Torm AS, another Danish tanker company, has also “stopped taking new orders in Iran as a consequence of U.S. plans to reimpose sanctions on Tehran,” a spokeswoman said.

Insurance companies are also tightening scrutiny over new underwriting. The U.S. sanctions “will have a significant impact on the availability” of insurance for Iran oil shipments, said Andrew Bardot, the executive officer of London-based International Group of Protection & Indemnity Clubs.

Mr. Bardot said the group—a pool of reinsurers that covers around 90% of the world’s tonnage, including tankers—is in discussions with the U.S. government to mitigate the impact of returning U.S. sanctions on insuring Iran oil.

https://www.wsj.com/articles/european-firms-start-pulling-out-of-iran-1526490545?mod=article_inline

 

Oh we forced you alot already.

We forced you out of egypt and instaleld a military coup there that removed your puppet morsi and instaleld a dictator al Sisi who puts the american government on the wanted list.

What are you getting stronger? In debt? China rises. Russia rises. Germany rises. You go down. You are on retreat on evry front.

Assad still in power. In Egypt kicked out. In Iran your sanctions puffed away. Your debt rises on gigantic levels as does your poverty.

Maybe we should force you to finally make a 21st century infrastructure so your country stops to look like a 3rd world shithole.

 

I hve a question, do you respect us as equal partners or as vasalls and how do you imagine the future relationship?

I ask this honestly and expect an honest answer.

You want us to bend our knees and force your will on us. Is this your new way? How do you want us to look in the mirror if you come through with this?

 

Lol.... Oh your funny. . America doesn't retreat ..... we smash your ass.

 

cowards.

too scared to stand up to Trump's Fascism

 

How? We have a gigantic trade surplus and a 60 billion € budget surplus. Is that smashing our ass? Your weak ass president openly cries that we are too good in trade.

Tomorrow 06:30 AM the EU installs the blocking statue which nullifies your sanctions against Iran.

 

It's been happening and it's expanding - Maersk is bailing on the Islamofascists in Tehran:

 

Uh huh.....now take a look around and see who owes us and how much. Start with China and Japan, then work your way around the planet.

 

Total, in a statement about its Iranian business on Wednesday, said U.S. banks account for 90% of its global financing, while 30% of its shareholders are American. “Total has always been clear that it cannot afford to be exposed to any secondary sanction, which might include the loss of financing in dollars by U.S. banks for its worldwide operations,” it said in its statement.

Total said it would seek a waiver from Washington for the gas project, but wouldn’t continue with it if it didn’t receive one. Total has also become a substantial buyer of Iranian crude in the past two years since sanctions were lifted. It had previously said it wouldn’t seek an exemption for those purchases. It declined to comment beyond its statement.

In recent days, Wintershall AG, a German energy firm, told its Iranian partners it may not find funding for Iranian oil projects because it relies on its parent company, BASF AG , which has huge chemical operations in the U.S., according to a person familiar with the matter. A Wintershall spokesman said it strictly complies “with all national and international laws and regulations.”

On Wednesday, Maersk Tankers AS, one of the world’s largest oil-shipping companies, said it would stop taking assignments for Iranian oil shipments. It said it would wind down any existing customer orders by early November, the deadline set by Washington for the return of oil-related sanctions, a company spokesman said on Wednesday.

Torm AS, another Danish tanker company, has also “stopped taking new orders in Iran as a consequence of U.S. plans to reimpose sanctions on Tehran,” a spokeswoman said.....snip~


No we want you to quit working with the #1 Sponsor of terrorism. Allow their delicate and fragile economy to begin to crumble. Let them Iranians be reduced to begging for Orange Cheetos.

 

No, not this way.

You act after the principle: "Mine is mine and whats yours is negotiable".

If we allow USA to opress us and dictate us, we lose our freedom. We cant step back from our position without losing face.

The entire workd would spit on us and see us as pathetic and weak.

We have no other way to get out of this without losing cae than to keep to trade with Iran.

 

The Principle was that BO peeps deal gave Iran a timeframe to break out. It was a bad deal. Trump already said, come up with a better deal. That is all that needs to be done.

Trump doesn't care how the Euros makes Iran bow to their knees. But he is giving them the choice on how to do it.

 

Why do you cheer the loss of American power and influence like this? Why do you cheer the US behaving erratically and badly toward our closest allies? Why?

 

How is Iran supposed to "bow" exactly?

Xerxes..

 

Sure, US owes only to China 1.3 billions and 1.1 billions to Japan.

 

That's trillion, not billion ^^^^^^

 

It's not exactly a debt in any traditional sense.

 

US debt is held in the form of Treasury notes, bonds or bills. What's so untraditional about that?

 

It makes us fabulously wealthy as a country.

 

We've had the equivalent of a no-limit, near zero interest credit card, true enough. To call that wealth, however, is an abuse of the word.

In any case, the gravy train is winding down.

 

No, we signed a deal and in Germany loyality and trust are important things.

Trump could have negotiated a new deal with us behind closed doors. But he tries to force us, orders and expects that we fall on our knees.

If we step back now, we lose our face, nobody will take us serious. We would appear likee vasalls and slaves.

 

Nobody forces you to do anything. The US sanctions Iran. Any company that does business with it ends up being sanctioned. It’s your freedom to chose - deal with Iran or deal with the US.

 

It's not about you, or Europe. It's about the danger Iran represents to the world. If you stop thinking about business and more about maintaining peace for the future then there would be fewer problems.

Keep in mind that Europe, not North America, is where all the major wars begin. Perhaps you consider this for a while and see yourselves as other see you.

 

If i hold a gun at your head its your freedom to chose as well. That you dont even see how pathetic you have become as a nation tells alot.

80% of the german people want that the deal continues with iran.

We have signed a contract with Iran. If we get forced to break it we will lose our face. We feel disrespected, humilated and under attack. Now comes Trumos next demand. He orders us to end our pipeline project and buy american gas.

Dont you see the problem?

 

You're only 'losing face' because you're all bluster and BS. Behave with some responsibility and respectability and there'll be no losing face at all.

 

How do you judge trumps next demand from today where he demands we end our pipeline project and buy american gas or face tariffs on our products.

Dont you see where this goes? Try to see from our point of view