The data was added on ,	6 August 2018 read 420 times.
US President Donald Trump's decision to pull the United States out of the 2015 nuclear accord with Iran and reimpose a raft of sanctions will hit European businesses working in Iran.
PSA, behind the Peugeot, Citroen and Opel brands, said in June it was preparing to suspend activities in the Islamic Republic, its chief foreign market by volume, noting those units account for "less than one percent of sales".
The group, which is Europe's second-biggest carmaker, last year sold more than 445,000 vehicles in Iran, making the country one of its biggest markets outside France.
Renault says it intends to keep up activities in Iran albeit scaling them back. On July 16, the automaker announced a 10.3-percent drop in sales in Iran to 61,354 units.
Germany's Daimler was teaming up with two Iranian firms to assemble Mercedes-Benz trucks.
German firms' business with Iran was a modest $2.6 billion of 2016 exports rising to $3 billion last year.
Italy is Iran's main European trading partner — but Germany is still the bloc's biggest exporter to Tehran.
Aviation saw beefy contracts drawn up following the nuclear accord as Iran targets modernization of an ageing fleet.
Airbus booked deals for 100 jets although to date only three have been delivered after having US licenses bestowed upon them — a necessity given some parts are US-made.
Because Total's investment in the field had barely just begun, the company is avoiding incurring significant losses on a $5-billion project which Iran says Chinese group CNPC will now take up.
After a 30 percent jump in 2016 in exports of Italian-made goods to Iran, Italian exports grew 12.5 percent last year to €1.7 billion, according to official data.
Britain's BP, which started life as the Anglo-Persian Oil Company, has no presence in Iran. Although Anglo-Dutch giant Royal Dutch Shell signed a deal in 2016 to explore possible investments it does not currently have any operations on the ground.
Italy stands to lose out in these sectors with national railway operator Ferrovie dello Stato Italiano having signed a deal to build a high-speed line linking Qom to Arak. Shipmaker Fincantieri, engineering firm Maire Tecnimont and gas boiler maker Immergas has also signed a string of deals with Iran which are now threatened.
Spain's Melia Hotels International chain, which signed a 2016 deal to run a five star hotel in Iran, the Gran Melia Ghoo, says the establishment is under construction and that discussion of its future is 'premature'.
"The mega contracts hoped for when sanctions were lifted were never realized," KPMG advisor Kaveh Taqizadeh was recently quoted as saying in Stern magazine.
"Siemens will continue to ensure it remains in strict compliance with relevant international export control restrictions and all other applicable laws and regulations, including US secondary sanctions," Siemens spokesman Yashar Azad told AFP.
He added Siemens "will take appropriate actions to align its business with the changing multilateral framework regarding Iran".
French industrial gas group Air Liquide said it will 'cease all commercial activity' in the country although a spokesperson says the firm has 'no investments' there.
Pharmaceutical giant Sanofi, in Iran for over a decade, remains operating "in full compliance with international regulations", a spokesman said, while adding "it is still too early to comment on the potential impact" of sanctions.
Germany's big banks, Deutsche Bank and Commerzbank, stayed clear of Iran after the US fined them hugely in 2015 for violating previous sanctions. Regional banks Helaba and DZ Bank pulled out of Iran after the US announced it was reimposing sanctions.