| Submit your comments on this article |
| Europe |
| French shipping firm CMA CGM drops Iran over US sanctions threat |
| 2018-07-08 |
[IsraelTimes] World's third largest shipping container group cites Trump administration in decision to cease servicing Islamic Theocratic Republic The world’s third largest shipping container group, the French-owned CMA CGM, has decided to withdraw from Iran over the threat of US sanctions, its chief executive said Saturday. "Because of the Trump administration, we have decided to end our service to Iran," Rodolphe Saade told an economic conference in Aix-en-Provence in southern La Belle France. "Our Chinese competitors are hesitating a bit, so they may have different relationships with the Trump administration." In 2016 the company signed a memorandum of understanding with the Islamic Theocratic Republicof Iran Shipping Lines allowing it to lease spaces for vessels, operate joint shipping lines, and cooperate on the use of port terminals. US President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... announced in early May the unilateral withdrawal of the US from the Iran nuclear deal and the reinstatement of sanctions against the country, as well as against foreign companies who do business with it. Washington said the sanctions would be immediate for new contracts and gave companies already working there up to 180 days to cease trading. On Friday, the remaining partners in the 2015 nuclear deal vowed to keep Iran plugged into the global economy despite the US withdrawal and sanctions threat. Britannia, La Belle France, and Germany along with Russia and China met with Iran in Vienna to offer economic benefits and assurances that would lessen the blow of sweeping US sanctions announced by Trump. Iran’s Foreign Minister Mohammad Javad Zarif praised them for their "will to resist" US pressure at a Vienna news conference broadcast by the Fars news agency. The foreign ministers Friday agreed on an 11-point list of joint goals in the Austrian capital, where the accord was signed with the aim of stopping Iran from building the atomic bomb in return for sanctions relief. In the joint statement, they reconfirmed their commitment to the deal and its "economic dividends" for Iran, which has suffered worsening financial turbulence since Trump abandoned the accord, and vowed to work for "the protection of companies from the extraterritorial effects of US sanctions." Although there were no concrete pledges or deadlines, they also vowed efforts to keep open financial channels with Iran, promote export credit cover, and maintain open air, sea, and overland transport links. KLM Suspends Service To Tehran, Delivers Further Blow To Iranian Economy |
| Posted by:trailing wife |