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UK, French and German Companies Begin Iran Pullout Under U.S. Pressure

[Guardian-UK] David Gow and Ewen MacAskill - Multinational companies are coming under increasing pressure from the U.S. to stop doing business with Iran, with increasing evidence that European governments, mainly France, Germany and Britain, are supporting the U.S. campaign. It emerged on Thursday that Siemens, one of the world's largest engineering groups and based in Germany, has pulled out of all new business dealings with Iran after pressure from the U.S. and German governments. This follows the decision by Germany's three biggest banks, Deutsche, Commerzbank, and Dresdner, to quit Iran. The British Foreign Office has privately backed the U.S. warnings in recent weeks, telling companies such as Shell and BP of the risks of continuing business with Iran. The French president, Nicolas Sarkozy, has urged French energy firms Total and GDF not to pursue new business in Iran. Angela Merkel, Germany's chancellor, is joining him in pressing for new sanctions. Germany is Iran's biggest trading partner, but trade was down 18% in the first half of this year.
2007-11-09 01:00:00
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