Will Shell stay in Iran after renewed US sanctions? (Exclusive)
Baku, Azerbaijan, June 11
By Leman Zeynalova – Trend:
Royal Dutch Shell is assessing the impact of US sanctions on its activities in Iran, a source in the company told Trend.
“Following the US administration’s decision, we are now assessing the impact of the executive order of the US president in relation to Iran on our activities,” said the source.
“We have been exploring the role Shell can play in developing Iran's energy potential within the boundaries of the law.”
In 2017, Iran signed a basic agreement with Shell over studying the country's Kish gas field as well as South Azadegan and Yadavaran oil fields.
The new US sanctions will take six months to kick in, but a number of European companies have already halted their businesses in Iran despite verbal pledges by their governments to protect them against any fallout.
US President Donald Trump announced on May 8 that Washington was walking away from the nuclear agreement, which was reached in 2015 between Iran and the five permanent members of the UN Security Council - the US, Britain, France, Russia and China - plus Germany.
Trump also said he would reinstate US nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic.
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