EU companies pull back from Iran

The European Union must protect EU companies doing business with Iran, French President Emmanuel Macron declared, as firms begin to pull out of the country.

Total (NYSE:TOT) has halted work on an Iranian natural-gas project and warned it may have to abandon its plan to invest $1B in the field.

Maersk Tankers (OTCPK:AMKAF), Torm (OTC:TRMSF) and Wintershall have also stopped their dealings with the Islamic Republic.

Previously: Total poised to pull out of Iran"s SP11 project without U.S. waiver (May. 16 2018)