Withdrawn

"Following the US withdrawal from the JCPOA announced on May 8th, 2018, the Group has begun to suspend its JVs activities, in order to comply with US law by August 6th, 2018. With the support of the French Government, the Groupe PSA is engaging with the US authorities to consider a waiver." (6/4/2018).

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"In other sectors, French carmaker PSA Peugeot Citroen reached a deal in 2016 to open a plant producing 200,000 vehicles annually in Iran. It said Wednesday that it is studying the implications of the U.S. move and hopes the European Union will have a united position on the Iranian sanctions." (May 9, 2018). 

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"French carmaker PSA Group has invited Iran Khodro (IKCO) to set up a production line for Peugeot cars in Algeria, the Islamic Republic News Agency (IRNA) reports. PSA executive vice-president for purchasing, Yannick Bézard, on Tuesday visited Tehran-based Iran Khodro which has signed production deals worth 700 million euros with PSA. Bézard said Iran Khodro can either provide Peugeot with auto parts it needs at its Algeria site or establish a production line in the North African country as a member of the French automaker." (January 31, 2018).

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"PSA on Wednes­day reported a rise in car unit sales for 2016 thanks to business in Iran which the carmaker is including again after the end to sanctions against Tehran. With the integration of sales from joint ventures and licence agreements in Iran, Peugeot booked a rise in deliveries of 5.6pc. On a comparable basis, without the integration of the Ira­nian contribution, the figure dropped by 2pc from 2015. The group’ s three brands Peugeot, Citroen and DS, sold just over three million cars last year, of which 233,000 were produced under licence in Iran. In 2015, the group sold 2.9 million units. PSA’ s post-sanctions return to Iran resulted in joint ventures with local companies Iran Khodro and Saipa, and a partnership with Arian Motor." (AFP, "Iran car sales keep PSA on growth track," 1/11/2017).

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"Citroen cars will roll off an assembly line in Iran starting from 2018, under a deal between French automaker PSA and Iran's SAIPA finalised on Thursday, PSA said. The joint venture, in which PSA and SAIPA will each have a 50 percent stake, will see cars produced at a plant in Kashan, some 200 kilometres (120 miles) south of the capital Tehran... The Kashan plant is used to produce Citroen cars but has not made one since the start of the decade. The two firms plan to invest "more than 300 million euros ($335 million) in manufacturing and R&D capacity over the next five years," PSA said in a statement. The move follows PSA's 400-million-euro deal in June with Khodro to build 200,000 Peugeot vehicles a year in Iran by 2018." (AFP, "Citroen maker seals Iran joint-venture deal," 10/6/2016).

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"Iran will play a “central” role in French carmaker PSA’s strategic plans for the Middle East, the head of the manufacturing group said Wednesday on his first visit to the country. “Iran is central to the implementation of the strategic growth plan of the PSA group,” Carlos Tavares said during a visit to its local partner, Iran Khodro. The trip cemented a 400 million-euro ($448 million) deal signed in June for the two companies to resume their old partnership, which was cut short by international sanctions in 2012... June’s 50-50 deal created IKAP (Iran Khodro Automobiles Peugeot) which plans to produce three vehicle types, starting in 2017 with the small urban 4x4 Peugeot 2008. The mid-size 301 and small five-door 208 will follow shortly after. PSA aims to reach 200,000 units by 2021, and it hopes to meet the Iranian government’s wish of exporting 30 percent of the production. “Iran is going to be the No. 1 sourcing base for this region,” Tavares said, reiterating PSA’s goal of selling a million units across the Middle East by 2025. “When we reach that number in 2025, 75 percent of this production will be produced in the region ... and of course Iran will be the No. 1 producer,” he added." (AFP, "Iran 'central' to French carmaker's regional plans," 10/6/2016).

On June 30, 2020, the Mississippi Department of Finance & Administration identified Gunvor as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”  

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"Gunvor Group, which deals with about 2.7 million barrels a day of crude oil and other products, opened offices in Houston and Connecticut last year, said it would not be handling Iranian oil in the foreseeable future.  

“Gunvor does no trading with Iran. We comply strictly with all applicable international sanctions, and will not trade oil or products with any country, including Iran, that would consist of a violation of those sanctions,” said Gunvor spokesman Seth Pietras." (9/27/2017)

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In 2017 the U.S. state of Mississippi listed Gunvor on its Iran restricted companies list rendering Gunvor ineligible for investment and/or state contracting.

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"Major oil firms and trade houses are gradually resuming energy trading with Iran but efforts remain very cautious and often face huge legal obstacles, meaning a post-sanctions return to full-scale activity will take weeks if not months. Trading sources told Reuters major trading houses Gunvor and Vitol have each delivered several cargoes of gasoline into Iran in the past few weeks... Meanwhile, Swiss trading house Litasco of Russian oil major Lukoil (LKOH.MM) had to cancel a booking of a tanker to transport oil from Iran to Italy in early February due to what trading sources described as ship insurance difficulties. Trading sources on Wednesday cited preliminary fixtures being made by Glencore and Total for tankers to lift Iranian crude in February although it was still unclear if the deals had been concluded partly due to insurance issues. 'It is still very difficult despite the sanctions removal. Dollar clearing is an issue, banks' letters of credit is an issue, ship insurance is an issue. Loads of people are still very cautious,' said a senior trading executive. Leading shipping players say efforts by Iran to start exporting oil to Europe are being held up as tanker owners are still struggling to secure insurance for cargoes... Third-party liability insurance and pollution cover for vessels is provided by P&I clubs - marine insurers owned by shipping clients and reinsured internationally. The umbrella International Group of P&I clubs is still unable to confirm payments under re-insurance contracts. 'Gasoline exports to Iran are a bit easier as tankers are much smaller, insurance is easier and there are banks which are willing to do this as non-dollar transactions,' one senior trading source familiar with the matter said... 'It will take weeks if not months to return to full-scale crude exports to Europe. Tonnes of papers will need to change hands between inhouse risk officers, lawyers and banks before the picture is fully clear,' said a trading executive involved in the discussions. But ultimately oil should flow at full steam. 'It's just a matter of price. If the price is good, we'll buy it,' Marco Schiavetti, director of supply and trading with Italy's Saras said of Iranian oil. 'Obviously we will talk to them soon, and we will consider.'" (Reuters, “Gasoline cargoes sail to Iran, crude exports still tough,” 1/27/2016)

"Mitsui Chemicals reportedly has licensed technology for a petrochemical project in Iran. In 2019, CalSTRS identified Mitsui Chemicals as potentially having ties to Iran and began the review process. In 2020, CalSTRS removed Mitsui Chemicals after reviewing the company’s internal controls to prevent sanction violations."

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"A clutch of chemical companies have made, or are considering, investments in Iran... Several projects have been confirmed, and many others are in negotiations. Danish catalyst and process technology firm Haldor Topsoe is opening an office in Tehran and is planning a new methanol plant in Chabahar in southern Iran. Danish drugmaker Novo Nordisk has comitted to building a manufacturing plant in Iran. Talks are reportedly underway with German chemical companies BASF and Linde, as well as Japan’s Mitsui Chemicals, regarding investing in petrochemical facilities in Assaluyeh (southern Iran). This site is part of the Pars Special Economic Energy Zone, where a huge petrochemical complex is being builit, close to one one of the biggest gas fields in the world. Iran’s National Petroleum Company (NPC) is also reportedly in negotiations with France’s Air Liquide to build a methanol-to-propylene plant, and the Italian Institute for Foreign Trade Insurance Services (SACE) has signed several agreements with Iranian banks and government bodies, which may have implications in petrochemical investment." (Chemistry World, “Sanction lift triggers investment in Iran,” 3/16/2016)

As of February 2022, Bouygues is not listed on Michigan's state list of companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bouygues ineligible for investment and/or state contracting.

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In 2018, the U.S. state of Michigan listed Bouygues on its state list of Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bouygues ineligible for investment and/or state contracting.

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May 2017 – “A preliminary deal signed by Bouygues (BOUY.PA) last year to build and run a new terminal at Tehran’s Khomeini airport has been canceled, a spokesman for the French construction group said on Friday.”

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"European companies are promising billions in new deals in Iran—€5.7 billion from Italian steelmaker Danieli and more than €300 million from French car builder PSA Peugeot Citroën, among others—as Iranian President Hassan Rouhani works to revive trade and political ties on the Continent this week. Mr. Rouhani landed in Rome on Monday on his first overseas trip since the European Union lifted sanctions on Jan. 16 in return for Tehran’s implementation of key restrictions on its nuclear program. The trip will take Mr. Rouhani from Vatican City—marking the first meeting between an Iranian president and a pope since 1999—to the gilded halls of Paris’s Élysée Palace. With a number of U.S. sanctions still in place, European countries are moving quickly to re-establish ties to sell everything from consumer goods to aircraft. Italian and Iranian companies signed deals valued at about €17 billion ($18.36 billion) late Monday ahead of a formal dinner between Mr. Rouhani and Italian Prime Minister Matteo Renzi. Earlier in the day, Italian steel firm Danieli said it would sign deals valued at about €5.7 billion during the visit. Other firms signing agreements on Monday included oil-field services company Saipem SpA, energy group Ansaldo Energia and ship maker Fincantieri SpA... In France, auto makers, airport operators and construction firms were primed for a raft of accords when Mr. Rouhani visits French President François Hollande on Thursday. French car maker Peugeot is expected to complete an agreement to manufacture cars in Iran as part of a 50-50 joint venture with auto maker Iran Khodro valued at more than €300 million, according to a person familiar with the matter... In opening its doors for business, however, Tehran is demanding European firms locate technological know-how and factories inside Iran to revive the country’s hobbled job market. Another key plank of Iran’s ambitions is the revamping of its creaky aviation industry. Iranian officials say they plan to buy more than 100 new jets from Airbus Group SE to replenish the country’s small and poorly maintained commercial passenger fleet. Mr. Rouhani’s meeting with Mr. Hollande in Paris on Thursday is timed to the unveiling of about €400 million in contracts to expand Iran’s aging airports for increased tourism and business traffic, one of the people familiar with the matter said. Tehran is expected to tap French airport operator Aéroports de Paris and construction-and-media conglomerate Bouygues SA to design and build a new terminal at Tehran’s Imam Khomeini International Airport, according to the people. French construction firm Vinci SA will develop and operate airports in Mashhad and another Iranian city, the people said... Just minutes after Mr. Rouhani landed in Rome, Italian airline Alitalia SpA said it would boost the number of flights between Rome and Tehran from four times a week to daily, starting March 27." (Wall Street Journal, “Iran President Visits Europe to Seal Post-Sanctions Deals Worth Billions,” 1/25/2016)

"The company as well as its fellow French partner Aeroports de Paris, however, canceled the $2.8 billion agreement in 2017, citing failure to get financial backing from international banks, which are still wary of US sanctions over their activities in Iran."

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In February 2017 Aeroports de Paris pulled out of the project to develop a new terminal at Iran’s airport.  

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Aéroports de Paris, within its consortium, has signed a memorandum of understanding to develop Iman Khomeini International Airport in Teheran. (January 28, 2016).

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"European companies are promising billions in new deals in Iran—€5.7 billion from Italian steelmaker Danieli and more than €300 million from French car builder PSA Peugeot Citroën, among others—as Iranian President Hassan Rouhani works to revive trade and political ties on the Continent this week. Mr. Rouhani landed in Rome on Monday on his first overseas trip since the European Union lifted sanctions on Jan. 16 in return for Tehran’s implementation of key restrictions on its nuclear program. The trip will take Mr. Rouhani from Vatican City—marking the first meeting between an Iranian president and a pope since 1999—to the gilded halls of Paris’s Élysée Palace. With a number of U.S. sanctions still in place, European countries are moving quickly to re-establish ties to sell everything from consumer goods to aircraft. Italian and Iranian companies signed deals valued at about €17 billion ($18.36 billion) late Monday ahead of a formal dinner between Mr. Rouhani and Italian Prime Minister Matteo Renzi. Earlier in the day, Italian steel firm Danieli said it would sign deals valued at about €5.7 billion during the visit. Other firms signing agreements on Monday included oil-field services company Saipem SpA, energy group Ansaldo Energia and ship maker Fincantieri SpA... In France, auto makers, airport operators and construction firms were primed for a raft of accords when Mr. Rouhani visits French President François Hollande on Thursday. French car maker Peugeot is expected to complete an agreement to manufacture cars in Iran as part of a 50-50 joint venture with auto maker Iran Khodro valued at more than €300 million, according to a person familiar with the matter... In opening its doors for business, however, Tehran is demanding European firms locate technological know-how and factories inside Iran to revive the country’s hobbled job market. Another key plank of Iran’s ambitions is the revamping of its creaky aviation industry. Iranian officials say they plan to buy more than 100 new jets from Airbus Group SE to replenish the country’s small and poorly maintained commercial passenger fleet. Mr. Rouhani’s meeting with Mr. Hollande in Paris on Thursday is timed to the unveiling of about €400 million in contracts to expand Iran’s aging airports for increased tourism and business traffic, one of the people familiar with the matter said. Tehran is expected to tap French airport operator Aéroports de Paris and construction-and-media conglomerate Bouygues SA to design and build a new terminal at Tehran’s Imam Khomeini International Airport, according to the people. French construction firm Vinci SA will develop and operate airports in Mashhad and another Iranian city, the people said... Just minutes after Mr. Rouhani landed in Rome, Italian airline Alitalia SpA said it would boost the number of flights between Rome and Tehran from four times a week to daily, starting March 27." (Wall Street Journal, “Iran President Visits Europe to Seal Post-Sanctions Deals Worth Billions,” 1/25/2016)

In 2017, CalSTRS designated Telecom Italia as “Under Review” for potentially having ties to Iran. In 2018, CalSTRS removed the company after reviewing internal controls and confirming the company has ceased doing business with Iran other than permitted reciprocal roaming agreements.

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In 2017 the U.S. state of California listed Telecom Italia as a company under review for reportedly having roaming and services agreements with Iran.

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"TI Sparkle, the International Services arm of Telecom Italia Group, announces today the signing of a Memorandum of Understanding with Telecommunication Infrastructure Company of Iran (TIC) for the expansion of its Global IP Backbone with a new IP POP in Iran." (January 27, 2016)

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"TI Sparkle, Telecom Italia Group's international operator, has announced an agreement with Telecommunication Infrastructure Company of Iran (TIC) to launch a new point of presence (PoP) in the Middle Eastern country. The new PoP is intended to support the increasing demand for IP services coming from the local market as well as from neighbouring countries and accelerate the development of digital and value added services in Iran." (Telecompaper, “TI Sparkle opens new point of presence in Iran,” 1/28/2016)

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“TI Sparkle, the International Services arm of Telecom Italia Group, announces today the signing of a Memorandum of Understanding with Telecommunication Infrastructure Company of Iran (TIC) for the expansion of its Global IP Backbone with a new IP POP in Iran.” (TI Sparkle Website, “TI Sparkle partners with TIC and adds Iran to its Global IP Network Seabone,” 1/27/2016). 

"German lender DZ Bank will suspend financial transactions with Iran in July, it said, after U.S. President Donald Trump’s decision to pull out of the Iran nuclear deal created uncertainty over business dealings with the country. “We will completely suspend our foreign payment transactions related to Iran starting July 1st,” a spokesman for the Frankfurt-based bank said on Friday." (5/18/2018)

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"European banks are tentatively re-engaging with Iran as the Middle East’s second-largest economy slowly emerges from a sanctions regime that has kept it in the financial wilderness for years. Belgium’s KBC, Germany’s DZ Bank both confirmed when contacted by the Financial Times that they have started handling transactions on behalf of European clients doing business in Iran. Austria’s Erste Bank is preparing to do so. However, bigger European banks remain on the sidelines alongside their US rivals, scarred by a string of multibillion-dollar fines for earlier sanctions breaches in Iran. This is causing growing frustration among officials in Iran and Europe about the slow pace with which Tehran is being reconnected to the global financial system... the continuation of many US sanctions relating to other issues, such as facilitating terrorism, has made many international banks wary of working with Iranian institutions and individuals." (Financial Times, “Europe’s banks begin tentative return to Iran,” 4/3/2016)

"CMS has closed its Iran office just over two years after becoming the first international law firm to move into the country. The firm opened in Tehran in February 2016, weeks after sanctions on the country were lifted in the wake of the landmark international agreement to limit its nuclear activities. However, President Donald Trump pulled the US out of the deal in May last year, reimposing the previous sanctions, with CMS opting to close its base in the Navak Tower as a result. The office had been staffed by lawyers from the firm’s German arm, CMS Hasche Sigle, including corporate partner Jurgen Frodermann and German-Iranian energy partner Shaghayegh Smousavi, both of who have now returned to the firm's Duesseldorf base. CMS had considered a move into Tehran for some time, setting up an Iran taskforce in 2013 after the election of president Hassan Rouhani and the start of the negotiations over the nuclear deal. The sanctions on Iran were lifted on 16 January 2016, with the office opening at the start of February." (Yahoo News, "CMS exits Iran as sanctions prompt rethink by international firms," 1/24/2019).

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In February 2016, CMS announced plans to open a Tehran office in order to provide legal advice to businesses and investors in Iran.  (CMS website, “CMS Opens Iran office in Tehran,” 2/2/2016).  CMS explained, “[w]e support international companies seeking to gain an early competitive advantage and to build strong business relationships with Iran by providing access to lawyers who specialise in Iranian law and leveraging our practical experience of working on investment projects in Iran.”  (CMS website, “Welcome to CMS in Iran,” accessed 6/1/2016).  The Lawyer notes that “CMS has become the first international firm to open an office in Iran, two weeks after sanctions against the country were lifted by the US.”  (The Lawyer, “CMS becomes first international firm to open in Iran,” 2/2/2016).  CMS’s “clients in Iran will consist of multinationals and large SMEs, including Iranian companies.”  Id.

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CMS is the first international law firm to open a dedicated office in the Iranian capital, Tehran, led by partners of CMS Germany.

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"Python & Peter, a leading Swiss law firm, has opened an office in Tehran in a further sign of the country opening for business in the wake of the groundbreaking nuclear agreement signed last year. The new office will aim to advise foreign multinationals on how to operate in a country slowly awakening from years of international isolation and numerous economic downturns. In February, Germany’s CMS was the first international law firm to open an office in Tehran since the 1979 Islamic Revolution... Iranian law firms with international standards are also rare. But a new generation of lawyers has been encouraged with the entrance of foreign law firms into the country, said Encyeh Seyed Sadr, partner and attorney at law in Bayan Emrooz, a new local law firm. Lack of trust in Iran’s judicial system, fears of bias and corruption as well as often lengthy proceedings and high tariffs means many foreign companies are wary of losing their investments should they run into difficulties with their local partners... In a further sign of the growing international interest in setting up business in Iran, a team from the Swiss Chambers’ Arbitration Institution visited Tehran last week, offering fair, independent and flexible arbitration services in any potential future disputes between Iranian and foreign companies." (Financial Times, “Leading Swiss law firm opens Tehran office,” 5/5/2016)

"France’s airline Air France said on Wednesday the company has suspended flights over Iraq and Iran airspace after Iranian missile strikes targeting U.S.-led forces." (Reuters, "Air France suspends flights over Iraq and Iran airspace," 1/8/20).

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According to its website, “Melika Seir is the direct agent of … Air France [and] KLM (https://melikaseir.com/en/services/). 

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"An Air France jet flying from Paris to Mumbai on Wednesday was diverted to an airport in Iran after officials say the aircraft suffered a “malfunction” in the ventilation system." (Fox News, "Air France flight diverted to Iran over ventilation 'malfunction', officials say," 5/8/2019). 

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"Will stop services to Iran in September 2018, citing "weak commercial results" in light of U.S. sanctions." ("Air France-KLM, BA Pull Out of Iran Amid U.S. Sanctions," Bloomberg, 8/24/2018.)

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"Much of the growth in international air traffic is due to airlines increasing capacity or frequency of existing routes. But it also includes many European airlines, such as Air France and British Airways, that have been able to restart flights to Iran after long hiatuses... “Iran went from a marginalized and difficult place in the world economy in 2013 to a place of growth,” said Ray Takeyh, a fellow at the Council on Foreign Relations specializing on Iran." (The Washington Post, "Iran's nuclear deal divided: Skies full of planes," 11/2/2016).

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Air France - KLM is one of the companies listed as a speaker at the HR Trends Summit taking place from October 18-19, 2016 in Tehran, Iran. (Speakers).

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"When Air France-KLM resumed regular flights to Iran last month after an eight-year hiatus, gay flight attendants urged Chief Executive Officer Frederic Gagey to let them take a pass, given that homosexuality can get you executed in the Islamic Republic. 'It's inconceivable to force someone to go to a country where his kind are condemned to death for who they are,' stated their online petition, signed by almost 30,000 people... The brutal killing in Bangladesh last month of a gay activist employed by a U.S. aid agency and increased commerce with Iran following its nuclear deal framework have lent urgency to how companies interact with restrictive governments. Increasingly, it is chief executives instead of politicians who are faced with protecting the rights, and lives, of LGBT employees." (Bloomberg, “Protecting Gay Employees Where Being Gay Is a Crime,” 3/17/2016)

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"Several European airlines aim to resume their flights to Iran following a landmark nuclear deal between Tehran and world powers, the state-owned IRAN daily reported on Thursday. The newspaper quoted Mohammad Khodakarami, deputy head of Iran's civil aviation authority, as saying British Airways officials visited Tehran on Tuesday to discuss resumption of flights. He did not elaborate. Khodakarami also said both Air France and Dutch flagship KLM have already expressed their readiness to resume flights to Tehran. Air France said last month it would resume flights to Tehran for the first time in more than seven years starting in April. A KLM spokesman said the carrier always looks for opportunities for new destinations but has not yet make a decision about resuming flights that were suspended in 2013. 'At this moment there are no concrete plans to open Tehran. KLM follows the current situation concerning the lifting of sanctions against Iran closely,' spokesman Joost Ruempol said. BA also has not announced any firm plans to return to Iran, though Willie Walsh, the chief executive of its parent International Airlines Group, reportedly told a recent conference the airline is interested in flying to Tehran soon." (AP, “Iran: European airlines set to resume flights to Tehran,” 1/28/2016)

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KLM and Air France "have become the largest European airline group: one group, two airlines, and three businesses." (KLM Website, "Air France KLM")

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"Air France-KLM will suspend its Amsterdam-Tehran service starting April 2013, a spokesman for the carrier said. It currently flies to Iran four times a week." (Reuters, "Two airlines suspend Iran flights as economy weakens," 1/13/2013)

"The company was reported as potentially having exposure to Iran through a parent company, Doosan Corp. In a letter dated November 29, 2017 the company stated it has no business activities in Iran. In 2018 CalPERS determined to maintain the company in "monitor" status for possible changes in status relevant to the Act. CalPERS has determined to maintain the designation for 2020."

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"Iran and the Republic of Korea on Monday signed three agreements in the form of one memorandum of understanding (MOU) and two memorandums of agreement (MOA) during Iran-Korea Business Forum in Tehran… Another MOA was inked between the Korean Doosan Heavy Industry and Construction and the Iranian Negin Mokran Development Company (NMDC).." (Tehran Times, “Leader asks literati to care about current issues,” 6/21/2016)

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“We have tried to enter the Iranian market by, for example, signing an MOU with Iran’s National Water and Wastewater Engineering Company in April this year,” said Yoon Seok-won, head of the Water BG of Doosan, adding, “This SAKO Project signed at this time based on the recent summit talks between South Korean President Park Geun-hye and Iranian President Hassan Rouhani will be the starting point to increase our presence in the Iranian water market, which is estimated to grow to reach US$2 billion in 2018.” (April 1, 2016).

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"Doosan Heavy Industries recently held a showcase in Iran to target the water conversion market with its affiliates overseas, including Doosan Skoda Power. 'Iran is a huge market that will help us break through the slumping economy and low international oil prices,' said Kim Heon-tak, a vice president of Doosan Heavy Industries. 'We will try to find an opportunity in the water conversion business with our industry-leading technology.'" (Korea Joongang Daily, “Korea courts big business in Iran,” 3/1/2016)