UK PM Theresa May tells Donald Trump of her fears that Iran sanctions could cripple British businesses

And while Iran sanctions could cripple British businesses, imagine an American boycott of UK businesses.

Buh bye, Britain.

THERESA MAY TELLS DONALD TRUMP OF HER CONCERNS THAT IRAN SANCTIONS COULD CRIPPLE BRITISH BUSINESSES IN PHONE CALL
British business has poured billions into Iran since sanctions relaxed in 2015
Now, Theresa May has urged Donald Trump to consider impact of axing Iran deal
Rolls-Royce make engines as part of $19billion deal between Airbus and Iran Air
BP co-owns gas field with Iranians and has bought crude oil from them in past
Vodafone has done lucrative deal to upgrade mobile and internet infrastructure
British Airways restarted flights to Tehran after a four-year hiatus in 2016
UK companies are also building hospitals and world’s largest solar energy plant
By Charlie Bayliss and Stewart Paterson For Mailonline, 12 May 2018

Theresa has urged Donald Trump to consider the impact America’s withdrawal from the Iran nuclear deal would have on British business.

In a phone call to the US president Mrs May reiterated her support for the nuclear deal after Mr Trump vowed powerful sanctions against the Islamic republic.

The 2015 agreement had allowed the lifting of sanctions against Iran, meaning British businesses were able to pour billions of pounds into the Islamic republic.

But President Trump said the deal was not tough enough on Iran and experts have told MailOnline UK businesses could be fined and forced to choose between working in Iran and the US.
President Trump said the deal was not tough enough on Iran and experts have told MailOnline UK businesses could be fined and forced to choose between working in Iran and the US

The world leaders spoke over the phone and Mrs May, left, reiterated her support for the Iran nuclear deal and urged Mr Trump, right, to consider the impact America’s withdrawal from the deal will have on British businesses with billions of pounds worth of interests in the Islamic republic
Among the British businesses with interests in Iran are Rolls-Royce, Vodafone and British Airways, which could be forced to pull out of Iran or scrap any lucrative deals with Tehran.
A spokesman for Mrs May said: ‘The Prime Minister reiterated the Government’s position on the Iran nuclear deal, noting that we and our European partners remain firmly committed to ensuring the deal is upheld, as the best way of preventing Iran from developing a nuclear weapon.
‘The Prime Minister raised the potential impact of US sanctions on those firms which are currently conducting business in Iran.’
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UK companies have been fighting for £450billion of business in Iran (pictured) since crippling economic sanctions were lifted two years ago but many deals may now be in tatters
Donald Trump last night tore up the Iran nuclear deal, which could force Britain’s biggest businesses out of the country
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Donald Trump last night tore up the Iran nuclear deal, which could force Britain’s biggest businesses out of the country
Trump announces withdrawal of US from Iran nuclear deal
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UK companies have been fighting for £450billion of business since crippling economic sanctions were lifted after the 2015 agreement between the Persian state and the US, UK, Russia,France, China, and Germany.
Since then Vodafone did a deal to improve broadband and mobile internet in Iran, Rolls-Royce agreed to produce jet engines for Iran Air and British Airways re-started its flights to Tehran.
BP has operated a joint gas field in the North Sea with Iran’s state oil company since the 1970s, although it is set to sell its stake to British company Serica Energy for £300million later this year.
Other British businesses are building hospitals, roads and other infrastructure including the world’s largest solar energy farm in the country.
Banks will also be asked not to accept any funds sent via Iran.
Today Iran’s supreme leader Ali Khamenei said he doesn’t ‘trust the UK’ and that Trump will die and his body ‘will be food for worms but the Islamic Republic will continue to stand’.
Trump blasted the Iran deal as a ‘horrible’ agreement as he announced the reinstatement of sanctions
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Trump blasted the Iran deal as a ‘horrible’ agreement as he announced the reinstatement of sanctions
It is not clear yet how any British firms would be punished but in a clue about what is to come Richard Grenell, Trump’s new ambassador in Berlin and a known ally of the President, said last night: ‘German companies doing business in Iran should wind down operations immediately’.
Boris Johnson is fighting to save the nuclear deal but British business has poured money into Iran since sanctions were relaxed in 2015.
World’s ‘economic policeman’ Donald Trump could force UK businesses to choose between Iran and US
UK companies operating in Iran could be forced to choose between working in Tehran or the US, experts said today.
Donald Trump will also have the power to levy huge fines and pressure banks not to accept cash out of Iran after bringing back sanctions.
Details of how UK businesses will have to change will emerge in the coming days but Richard Grenell, Trump’s new ambassador in Berlin said last night: ‘German companies doing business in Iran should wind down operations immediately’.
Alexandra Renison, Head of Europe and Trade Policy at Institute of Directors, told MailOnline businesses are right to be ‘very worried’ about the consequences.
She said: ‘The message sent by the new US ambassador to Germany is very worrying given that there were a number of companies already operating in Iran
‘To issue an ultimatum that non-US companies should divest completely from the country sets a seriously concerning.
No business wants to pull out of a multi-million pound investment altogether, but the US Government has a record of robust enforcement –particularly with banks to date.
‘Most of them have American branches and so are at risk of being forced to choose between offloading their operations in the US or Iran’.
She added: ‘It may be that discussions between Washington, Brussels and European capitals in the coming days provide further clarity about whether there will be any waivers or exemptions for individual firms’.
French Finance Minister Bruno Le Maire told French radio that Trump’s decision on Iran was a mistake and that the United States should not consider itself as the world’s ‘economic policeman’.
Former WPP boss Sir Martin Sorrell called Iran ‘one of the last great untapped opportunities for global business’.
The Rhum North Sea gas field has been co-owned by BP and Iran’s state oil company since the 1970s.
It started producing gas in 2005, but this was suspended in 2010 due to sanctions.
With the support of the UK government, an agreement was put in place that allowed production to resume in 2014 while still complying with sanctions.
In 2016 the US Treasury renewed the licence to keep operating their joint gas field in the North Sea, and this was again renewed last year.
BP was also reported to have bought crude from the National Iranian Oil Company (NIOC).
It is about to sell Rhum in a £300million deal with Serica Energy, who will also pay for two other gas fields.
The deal is expected to close in the third quarter of 2018 and sent Serica’s shares tumbling today.
A Serica spokesman said: ‘The Company is evaluating the implications of these statements and how they relate to the Rhum field in which th‎e Iranian Oil Company (UK) is a 50 per cent partner. We will update the market, as appropriate, in due course.’
In December 2016 Rolls-Royce welcomed a $19billion deal between Airbus and Iran Air for the supply of 100 aircraft, which they make the jet engines for, including 16 Airbus A350s.
Britain’s Vodafone, the world’s second-largest mobile phone company, did a deal with HiWEB in Iran to improve its broadband and mobile network infrastructure.
With a young population and high levels of mobile ownership, Iran is seen as an opportunity for telecoms companies seeking to expand into frontier markets.
A spokesman said today they are ‘monitoring the situation’.
Two years ago British Airways relaunched direct flights to Iran following the lifting of sanctions.
The carrier operates six flights per week between London Heathrow and Tehran, which was suspended in October 2012.
A spokesman said today: ‘We constantly review our network to ensure that our routes match our customers’ needs and are commercially viable. ​ ​We are in regular contact with the Foreign and Commonwealth Office.’
And a Rolls-Royce spokesman said: ‘We are examining the announcement and its potential implications.
‘We conduct business in all countries, including Iran, in accordance with all relevant UK, EU or other national sanctions and export control regulations.’
British businesses have also tapped into Iran’s medical, energy and engineering sectors.
International Hospital Group (IHG), a leading international healthcare services company based in Britain, signed an agreement worth £1.8 billion ($2.1 billion) with Iran to finance the construction of a network of cancer centres in the country.
A London-based investment fund agreed a deal to build one of the world’s largest solar power projects in Iran by 2020.
The deal between Quercus and Iran’s Ministry of Energy is worth over £440million.


Rolls-Royce is helping to make engines for Iran Air for the supply of 100 Airbus aircraft

BP has operated the joint Ruhm gas field in the North Sea (pictured is the neighbouring Bruce field ) with Iran’s state oil company since the 1970s, although it is set to sell its stake to British company Serica Energy for £300million later this year

Britain’s Vodafone, the world’s second-largest mobile phone company, did a deal with HiWEB in Iran to improve its broadband and mobile network infrastructure (a HiWeb advert in Tehran)
The deal between Quercus and Iran’s Ministry of Energy is worth over £440million and will see Iran’s sunny climate

The deal between Quercus and Iran’s Ministry of Energy is worth over £440million and will see Iran’s sunny climate (pictured)
Source: https://gellerreport.com/2018/05/uk-needs-iran-terror-funding.html/

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