Sputnik - Germany's Wintershall energy company told Sputnik it would not pursue further projects in Iran after the memorandum of understanding, agreed with the National Iranian Oil Company (NIOC), expired.



�In order to�lay the foundations for�possible further activities in�the region, in�April 2016 Wintershall signed a Memorandum of�Understanding (MoU) with�the National Iranian Oil Company (NIOC) on�possible future cooperation and has examined potential oil projects since�then. The economic conditions and the geopolitical environment are of�decisive importance for�the realization of�such projects," a company spokesman said.


"Unfortunately, it was not possible to�clarify the general economic conditions definitively in�our discussions with�NIOC. In addition, the overall political situation significantly impedes any possible engagement in�Iran at�the moment. The Memorandum of�Understanding agreed with�the NIOC will expire soon and will not be extended. Wintershall will not pursue any further projects in�Iran for�the time being," he said.


Wintershall Holding GmbH, a wholly owned subsidiary of�German chemical company BASF.

In early May, Trump announced his decision to�pull out�of the Iran nuclear agreement signed in�2015 in�Vienna by�Iran, the European Union, China, France, Russia, the United Kingdom, the United States and Germany.

The US president also announced the restoration of�all sanctions against�Tehran, including secondary ones that apply to�other countries conducting business with�Iran.

Washington's European partners have repeatedly stated that they intended to�continue to�observe the terms of�the deal with�Iran.