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It''s a decision with more than just diplomatic consequences.... numerous American and European companies are worried President Trump''s decision to back out of the Iran Nuclear deal will be bad for business. The announcement means any European firms that continue trade with Iran and have operations in the US could be targeted... Trump''s decision is expected to impact airline and gas companies in particular...// DLS// IranAir had ordered an estimated 20.8 billion dollars worth of passenger planes from Airbus, $17 billion worth of aircraft from Boeing, and French oil company Total had signed an initial one billion dollar contract to help develop an Iranian gas field....Airbus and Boeing''s licences to sell aircraft to Iran will be revoked.... and if Total wants the project to move foward after sanctions kick in, it will need to obtain a specific sanctions waiver. Trump''s announcement also brings bad news for General Electric... a number of its subsidiairies signed contracts worth tens of millions of dollars in the gas and petrochemical sectors. Major European carmakers have been monitoring the situation... Peugeot-manufacturer PSA, which holds 30% of the market share, has said it hopes the EU will adopt a common position on Iran, independent from Donald Trump''s stance. Finally, the hotel industry risks severe losses.... French Hotel company Accor, Spanish company Melia Hotels International or even the Emirati group Rotana Hotels may have to close their establishments in Iran. EU countries have already begun drafting plans to block the new sanctions.
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