EU SMEs to Remain in Downstream Oil Sector

Despite the US withdrawal from Iran's landmark nuclear deal and some major European companies' hesitation over continuing in the country, smaller companies'cooperation will not be affected
Iran's downstream market has a vast potential for attracting foreign companies.Iran's downstream market has a vast potential for attracting foreign companies.
The EU has begun reviving legislation that will allow European companies to continue business with Iran

US President Donald Trump’s decision to quit Iran's multinational nuclear deal would not affect European small-  and medium-sized enterprises' activities in the country's downstream sector, the head of Association of Iranian Petroleum Industries Equipment Manufacturers said on Saturday.
"While some major European companies have become cautious about doing business with Iran, smaller companies are continuing their cooperation with the country," Reza Khayyamian was also quoted as saying by Mehr News Agency. 
A number of small companies have recently signed agreements, irrespective of the US pullout, he added.
Trump pulled the US out of the Iran nuclear deal earlier this month and pledged to ramp up pressure on the country. Some foreign firms have already started signaling their intent to withdraw from Iran.


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