As European companies assessed their potential losses and missed opportunities in Iran, they also began to ponder whether the big beneficiary of President Donald Trump’s withdrawal from the 2015 nuclear deal would be China.
European companies including Total, Airbus, Siemens and Renault are likely to feel the brunt of renewed US sanctions on Tehran, since Iranian companies themselves already lack access to international financing and American businesses have largely stayed away.
Even after the 2015 nuclear agreement, many big western banks remained wary of financing transactions involving Iran because of bilateral US sanctions.
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