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Swiss firms uncertain of business future with Iran

National News // May 22, 2018

Swiss companies have stopped signing contracts with Iranian firms as the United States prepare to impose sanctions after president Donald Trump pulled the country out of the nuclear deal.

wikipedia Swiss firms uncertain of business future with Iran

Many companies are also looking to close Iranian subsidiaries and offices.

But it remains uncertain how much the breakdown of the deal will affect European companies operating in Iran.

There are some that hope Swiss firms will get some protection from potential ‘blocking’ legislation that may be enacted by the EU. Similar laws protected European firms that traded with Cuba during tough US sanctions.

The first US sanctions are due to come into force in August.

Tags: iran, economy, business, us

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