May 9, 2018 / 7:56 AM / in 2 months

Siemens, PSA and Airbus monitoring Iran developments after Trump move

PARIS/FRANKFURT, May 9 (Reuters) - Major European companies including carmaker PSA, plane manufacturer Airbus and Siemens said they were keeping a close watch on relations with Iran after President Donald Trump pulled the United States out of a nuclear deal.

Peugeot-manufacturer PSA, one of the big European businesses with operations in the country, said it hoped the European Union would adopt a common position on Iran.

“Like other economic players, we are following the evolution of the matter, and are also following the EU’s official position on this topic,” said a spokesman for PSA, adding that PSA hoped the EU would adopt its own independent position regarding Iran.

Siemens said it would also closely monitor the situation.

“We are assessing the implications of the Iran decision,” Siemens Chief Financial Officer Ralf Thomas told reporters.

“Of course we will always comply with export control regulations, and we would look at how different governments set the rules. We have a firm grip on our position,” added Thomas.

Airbus, which won a bumper order with IranAir along with Boeing, said it needed time to study the impact of Trump’s decision on Iran.

On May 8, President Trump pulled the United States out of the international nuclear deal with Iran, raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies.

France, which has had close business ties with Iran since before the fall of the Shah in 1979,has sought to deepen trade ties since sanctions against Iran were lifted in 2016.

Major French companies operating in Iran include PSA, rival carmaker Renault and oil major Total.

Trump’s decision could scupper Total’s multibillion-dollar gas project in the country unless it can secure a waiver.

Shares in Renault, PSA and Airbus all fell on Wednesday, although Total’s share price climbed higher, as oil prices rose in the wake of Trump’s move to pull the U.S. out of the Iran nuclear agreement deal. (Reporting by Gilles Guillaume, John Revill and Tim Hepher; Editing by Sudip Kar-Gupta Editing by Keith Weir)

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