He said the new sanctions regime would also affect the United States and that Europeans would "put in place the necessary measures to protect the interests of our companies and start negotiations with Washington" on the matter.
Compared with the pre-sanctions era, "Chinese companies have become much more multi-national and global, they have more of a brand reputation that's important to them", said Esfandyar Batmanghelidj, founder of the Europe-Iran Forum, an annual gathering for executives. Trade between Germany and Iran reached 3.4 billion euros ($4 billion) a year ago, according to BGA, another foreign trade association.
The biggest single buyers of Iranian oil are China, South Korea, Turkey, Japan, Italy and India.
- and broad sanctions on Iran's energy sector.
With industrial capacity in the United States, Airbus is also subject to USA sanctions.
Potentially the biggest two companies affected are Royal Dutch Shell and Total.
One company hoping for a reprieve is the French oil giant Total, which past year signed a $2 billion contract to develop the South Pars natural gas field.
The only companies who may feel unthreatened are those able to route transactions entirely outside the United States, without using financial institutions with any U.S. exposure, or those who have nearly no exposure to the USA, she said.
The potential sales were an order from Iran Air for 50 single-aisle 737 MAX 8s, 15 large current model 777-300ER widebody jets and 15 next-generation 777-9X widebodies, plus an order from Iran Aseman Airlines for 30 MAXs.
Treasury Secretary Steve Mnuchin stated that issued to the Boeing and the Airbus licence for the supply of the Islamic Republic of Iran civil aircraft withdrawn.
In December 2016, France-based Airbus Group signed a deal to sell Iran 100 jetliners worth about $19 billion.
All new contracts will be immediately subject to these sanctions, mostly passed into law in 2012 during an earlier peak in the Iran nuclear crisis.
Germany's Lufthansa said in April 2017 it was in talks with IranAir to provide catering, maintenance and pilot training. Iran has not acknowledged using passenger planes for such purposes.
Germany's Siemens signed a contract in October 2016 to upgrade Iran's railway network. When building work began in the pro-Western Iran of the 1970s, it was under French managers.
China looks at relations with Iran "from a strategic perspective", foreign minister Wang Yi said past year as he met Iranian officials in Beijing.
Smith said it was unclear whether Trump would actually impose sanctions on European Union companies that continue to deal with Iran, adding that the threat may be strategic, and that the administration could eventually end up granting exemptions.
There was great fanfare over the announcements of both deals.
Trump chose a "hard exit" from the agreement on Tuesday, returning all USA sanctions that had been lifted by the nuclear deal at roughly the same time. He said those problems include enabling the Islamic Revolutionary Guard Corps to further penetrate Iran's economy and giving Tehran more currency to support "nefarious" activities overseas. I think that's needing to be looked at very very carefully.
Iran's ports and shipping industry, its entire petroleum and energy sectors, and all foreign transactions with the Central Bank of Iran and other Iranian financial institutions will come back under USA sanctions. Medicines were excepted from the sanctions but shipping drugs into the country was troublesome, due to tight curbs on financial transactions and restrictions on technology.
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