29 Mar 2024
Monday 28 May 2018 - 16:23
Story Code : 306857

China and Russia push into Iran, exploiting Europes caution

The Wall Street Journal | Benoit Faucon: Chinese and Russian state-backed companies are maneuvering to profit from European firms leaving Iran, threatening the Trump administrations bid toraise economic pressureon Tehran.

Their efforts show how Irans business landscape has shifted since the Trump administrationwithdrewfrom the nuclear pact, which lifted crippling sanctions on Iran in exchange for curbs on its nuclear program, following 17 months of rising pressure. Secretary of State Mike Pompeohas threatenedthe strongest set of sanctions in history if Iran doesnt rein in its military activities across the Middle East and stop testing long-range missiles.


European executives who tried to make inroads in Iran since the Obama administration struckthe nuclear deal in 2015are now concerned Beijing and Moscow will seize an insurmountable advantage in a large, growing market.

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https://theiranproject.com/vdciwqapyt1auv2.ilct.html
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