WARNING FROM IRANIAN OIL MINISTER TO FRENCH OIL GIANT ‘TOTAL’: “NEGOTIATE WITH WASHINGTON!”




Mustafa AY – TDO – 31.05.2018 In the wake of US President Donald Trump’s decision on withdrawing from 5+1 Nuclear Accord with Iran, diplomatic ties between USA and Iran reverted to its former state based on insecurity and uncertanity. So, diplomatic relations increasingly exacerbates basically. However, it is not only Trump’s decision of withdrawal causing USA-Iran relations to worsen, but also intesifying pressures on Iran through heavy sanctions. Since 8th of May, White House in collaboration with House of Representatives and Senate have irrationally imposed heavy sanctions on Iranian companies and persons who are suspected to conduct clandestine business with Iranian government for the uranium enrichment program. Because of the consecutively enforced-sanctions on Iran, many foreign investors take damage in all the businesses that they operates in Iran.  

French oil giant Total seemingly have a tendecy to be affected from heavy sanctions of USA. Iranian Minister of Oil, Bijan Zanganeh, stated that it is really crucial for Total to seek for exemption from US sanctions on the grounds that in 2017, Total and Iranian government signed a contract for development of phase 11 of the South Pars oil field. In other words, Total initially invested 1 billion dollars in development of phase 11 of South Pars oil field. Zanganeh gives 60 days to Total officials so that they can execute mutual negotiations with Washington, which might culminate with attainment of exemption from US sanctions on Iran. However, it is really insurmountable issue that Total has to undertake. Attaining exemption would high likely necessitate that Total officials will lobby with some influential figures of US Senate and House of Representatives. If Total fails to reach consensus with Capitol and to acquire exemption, then Total’s shares at the value of 80% come in jeopardy. In this case, Chinese state-led oil giant CNPC may likely take over Total’s shares.