Foreign oil companies envisage contingency plan if Iran nuclear deal collapses - expert

Foreign oil companies envisage contingency plan if Iran nuclear deal collapses - expert

Tehran, Iran, May 14

By Fikret Dolukhanov, Javad Arabshirazi – Trend:

Foreign oil companies have put together a contingency plan if their contracts with Iran fall through in case of Washington’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), former Professor of Economics at Widener University in Chester, Pennsylvania, Hamid Zangeneh told Trend on May 4.

"…Each (oil) contractor has demanded and secured some clause that would enumerate contingencies and a way out of their contract if the JCPOA partially or totally collapses," Zangeneh said.

He added that in the absence of such explicit provisions, each contractor must comply with the terms of the contract.

Commenting on the possibility of Russian companies to replace foreign companies, Zangeneh also noted that he is not sure if Russia or China has the know-how similar to Total to undertake what Iran needs.

"But this is the story of Iran in the past 40 years. Iran, rather than resolving its issues with the US has tried every way to bypass the US by using and appealing to players such as Russia, China, EU, India etc. who do not have Iran’s interest at heart," Zangeneh said.

He concluded saying that Iranians need to understand that the US can live harmlessly and comfortable without Iran forever, while Iran has to pay a very large price its abstinence, and unless and until Iranians come to terms and understand this, they will be on the starting page one.

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Follow the author on Twitter: @FDolukhanov

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