French Shipping Firm Suspends Ops in Iran due to US Sanctions


TEHRAN (Tasnim) – French shipping group CMA CGM has decided to pull out of Iran following the US administration’s decision to renew sanctions on companies operating in the country, its chief executive said on Saturday.

“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 the southern French city of Aix-en-Provence, Reuters reported.

“Our Chinese competitors are hesitating a little, so maybe they have a different relationship with Trump, but we apply the rules,” Saade said.

He added that his company’s cooperation agreement with local Iranian partner IRISL had been suspended and that the company did not want to fall foul of the rules given their large presence in the United States.

Some other big shipping companies like A.P. Moller-Maersk have already said they would halt business ahead of a reimposition of sanctions following the United States’ decision to pull out of the 2015 nuclear deal between Tehran and world powers.

Donald Trump announced on May 8 that Washington was walking away from the nuclear agreement, officially known as the Joint Comprehensive Plan of Action (JCPOA), which was reached in 2015 between Iran and the five permanent members of the UN Security Council - the United States, Britain, France, Russia and China - plus Germany.

Trump also said he would reinstate US nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic.