Airplanes and sanctions. US companies are distancing themselves from Iran
After Trump's grasp
Difficult to make business with the Nation without violating the reintroduced restrictions
Dozens of American companies are preparing to withdraw from Iran while the Trump administration gives a further crackdown on the legal window that allows US firms to operate in the Islamic Republic without violating US sanctions.
The list of these companies includes industries such as Honeywell, Dover (global diversified manufacturer), General Electric, Albemarle (chemical sector), Eaton, Chubb (insurance) and Ecolab (supplier of water, hygiene and technologies and energy services), which together as of January 2016, they recorded Iran-related revenues of more than USD 175 million. Today it is reported on "Wall Street Breakfast", a Seeking Alpha service.
The wind of distension between the two countries is back, however, after the Joint Comprehensive Plan of Action (JCPOA) agreement on nuclear power signed in 2015 with the Obama presidency. Withdrawing from the agreement was one of the first decisions of the current Trump administration, a consequence of which is the reintroduction of sanctions against Tehran to prevent "the regime that supports terrorism throughout the Middle East can arrive to the nuclear bomb".
Honeywell is one of the most important American multinational companies operating in various sectors, and produces among other things components for the aeronautical sector. General Electric is a multinational industry whose multi-activities include the production of engines for aviation. Eaton Corporation, an American multinational, is based in Dublin, Ireland, and through its Aerospace Californian division supplies components to various aircraft manufacturers and the aerospace sector.
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