Iran says French oil company has withdrawn

Iran says French oil company has withdrawn
By Mark Armstrong

The Iranian government says French oil company Total has withdrawn from the country over the threat of U.S. sanctions

French petroleum company Total has officially left Iran according to the government in Tehran.

Iran's oil minister made the announcement on Monday, citing U.S. threats to impose sanctions on any companies doing business in Iran as the reason.

Bijan Zanganeh said the process to replace Total was underway and that the French firm was no longer working on its contract to develop phase two of its South Pars gas project.

The Oil Ministry's website SHANA also quoted Zanganeh as saying that Total had announced its plans to leave more than two months ago.

The United States reimposed sanctions on Iran after Washington withdrew from the 2015 nuclear agreement between Tehran and world powers. The agreement had imposed limits on Iran's nuclear ambitions in exchange for sanctions relief.

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