The United States has told countries to stop all imports of Iranian oil from November. The move comes after US President Donald Trump withdrew from the Iran nuclear deal last month.
The French energy giant had said it would pull out of the project if unable to secure a US sanctions waiver. CNPC will own an 80 percent stake in the multibillion dollar gas project, the Iranian state news agency said.
The EU is using new regulations to persuade companies to continue working with Iran. But protection against US secondary sanctions remains difficult in practice. Bernd Riegert reports from Brussels.
Trump's decision to reimpose a range of economic sanctions on Tehran puts German and EU firms in a tough spot. It seems that their plans for doing business in Iran have to be shelved.
Ayatollah Ali Khamenei said Iran would not talk with the United States. In comments directed at President Rouhani, he said Iran's economic troubles were not only the result of sanctions, but also economic mismanagement.
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