The U.S. sanctions on Iran’s oil and other industries are scaring foreign firms which are unwilling to sign any deals in any sector with Iran and are even rescinding existing contracts, Iran’s Oil Minister Bijan Zanganeh said on Monday, as carried by Radio Farda . The U.S. re-imposed sanctions on Iran’s oil exports in the spring of 2018, when President Donald Trump pulled the United States out of the so-called Iranian nuclear deal, or the Joint Comprehensive Plan of Action (JCPOA) as the agreement is officially known. The U.S. sanctions and the risk of secondary sanctions if firms continue to do business with Iran had many companies withdraw from developing Iranian energy resources, including France’s supermajor Total, which was the first to return to Iran after the lifting of the previous sanctions in 2016. After the U.S. re-imposed sanctions on Iran’s oil industry and exports, Total – which had […]