dirhams & dollars

Companies in limbo as US leaves Iran deal

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Sarah Diaa, Staff Reporter
21:57 May 15, 2018

With US President Donald Trump announcing his country will be withdrawing from the Iran nuclear deal, the team dissects implications on businesses in Iran.

Companies are already in limbo, with the key industries under the spotlight being aviation and oil. Boeing and Airbus both have deals worth billions of dollars with Iranian airlines, and neither one really knows what will happen to those deals.

But besides the direct effect, there’s another bigger story; is the US about to impose sanctions on its European allies for doing business in Iran? Possibly. And what does that mean for ties between the Europe and America? We discuss the shift in dynamics.

Finally, oil. With oil prices seeing some gains after the announcement, it seems oil is one of few that benefit from the US’s withdrawal. The business team discusses whether oil is finally seeing that respite.

P.S. This is an ongoing story with plenty of updates. Check www.gulfnews.com/business for the latest.