US rejects French request for Iran exemptions


US rejects French request for Iran exemptions

The United States (US) has rejected a French request for waivers for its companies operating in Iran that Paris sought after President Donald Trump imposed sanctions on the Islamic Republic, French Finance Minister Bruno Le Maire told Le Figaro.

Paris had singled out key areas where it expected either exemptions or extended wind-down periods for French companies, including energy, banking, pharmaceuticals and automotive.

French officials had expressed little hope for securing the waivers, which were critical for oil and gas major Total to continue a multi-billion-dollar gas project in Iran and for carmaker PSA Group to pursue its joint venture.

“We have just received Treasury Secretary Steve Mnuchin’s response: it’s negative,” Le Maire told Le Figaro in an interview published on Friday. Read More

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