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Germany’s new foreign minister Heiko Maas called for the Iran nuclear deal to be preserved and reaffirmed Germany’s commitment to building the controversial Nord Stream II gas pipeline during his first trip to Moscow to meet counterpart Sergei Lavrov on May 10. The two foreign ministers said they were working together as part of the group of major power nuclear deal signatories seeking to reverse or contain US President Donald Trump’s move to pull out of the multilateral accord and reinstate the highest-level sanctions on Tehran. Maas said that Germany will push ahead with the Nord Stream II pipeline that is to bring Russian gas directly to Germany under the Baltic Sea, just as twin pipeline Nord Stream I already does. The news came as Poland’s competition authority UOKiK stepped up its legal moves against Russian state-owned gas giant Gazprom and six other companies linked to the construction of Nord Stream I I on May 9, saying the companies keep jointly implementing the pipeline in contravention of European law.
UK-based Dunlop Oil & Marine Limited signed a memorandum of understanding with Iran Oil Terminals Company (IOTC) on May 9, according to state energy news agency SHANA. The deal came only hours after Trump announced the US would be pulling out the nuclear agreement. The UK Embassy in Tehran is still pushing ahead with deals in Iran. The Dunlop deal was signed by Kambiz Zandieh, a representative of the British firm, and by Perouz Mousavi, director of IOTC, on the sidelines of an oil and gas exhibition in the Iranian capital. According to the details of the agreement, Dunlop will provide IOTC with technical support for floating and submarine hoses attached to moorings. Dunlop Oil & Marine is a global leader in the design, manufacture and supply of hoses for the oil, gas and petrochemical industries, for both offshore and onshore based operations.
9.2.2 Automotive corporate news
French carmaker PSA Group launched its Citroen C3 model in Iran last week despite the black cloud hanging over foreign investors in the Islamic Republic since t he US announced its unilateral withdrawal from the nuclear deal , the company said on May 24. PSA, the maker of Peugeot and Citroen cars, sold 2,000 C3 subcompacts in one hour on launch day, brand chief Linda Jackson said. She added that the group had not changed its strategy since the announcement that the US is gearing up to impose the “strongest sanctions in history” on Iran. The carmaker, however, remained “cautious” about the future of its Iran business, Jackson said. It, like other foreign businesses present in Iran, is waiting to see what the European Union comes up with in terms of protecting such companies from US sanctions .
Iranian car producers plan to launch six new vehicles in the country over the next four years in conjunction with French car companies, Islamic Republic News Agency reported on April 24. French automakers, along with Chinese counterparts, now dominate the Iranian auto assembly industry. Protectionist policies including high taxes on imports act as an economic barrier to imports and thus play a significant role in shaping Iran car market shares. Deputy director of transport at the Industrial Development and Renovation Organisation (IDRO), Behzad Etemadi, said the six new vehicles would pass all the new and strict production standards. He added that the only car producer which IDRO is currently dealing with is France’s Renault, which signed an agreement in 2016 to begin independent production in Iran.
38 IRAN Country Report June 2018 www.intellinews.com