French Shipping Company Ends Cooperation with Iran

A French maritime transport company announced it would stop its cooperation with Iran following the Trump administration's decision to resume sanctions against Tehran. Rudolf Saadeh, CEO of CMA CGM, stated on Saturday, July 6, at an economic conference, "In light of the Trump administration's decision, we have decided to halt our services for Iran." He added, "Our Chinese competitors have some doubts in this regard, perhaps because their relations with Trump are different from ours, but we are implementing these regulations." Donald Trump, who has always been dissatisfied with the global powers' nuclear agreement with Iran, which he considers weak, announced on May 8 that Washington would withdraw from this agreement with the aim of achieving a new deal with Iran. The United States has set 12 conditions for reaching a new agreement with Iran, including halting uranium enrichment, shutting down heavy water facilities, stopping the development of ballistic missile programs, and ceasing support for Hezbollah, Hamas, and the Palestinian Islamic Jihad. The U.S. has also warned foreign countries and companies contracting with Iran that they will face Washington's sanctions if they continue their cooperation with Tehran. In this context, several major companies in various sectors, including A.P. Moller-Maersk shipping company, have announced that they will end their commercial cooperation with Iran due to the return of sanctions. The CEO of CMA CGM also mentioned that the company has suspended its contract with the Islamic Republic of Iran Shipping Lines due to the large volume of activities it has in the U.S. This French company had signed a memorandum of understanding for joint cooperation with Iranian companies in the field of transportation and port usage in 2016.