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France's CMA CGM cargo shipper announced it was pulling out of Iran for fear of becoming entangled in US sanctions.

According to Arabnews, CMA CGM, which according to the United Nations operates the world's third largest container shipping fleet with more than 11 percent of global capacity, said it would halt service for Iran as it did not want to fall foul of the rules given its large presence in the United States.
"Due to the Trump administration, we have decided to end our service for Iran," CMA CGM chief Rodolphe Saade said during an economic conference in the southern French city of Aix-en-Provence.
"Our Chinese competitors are hesitating a little, so maybe they have a different relationship with Trump, but we apply the rules," Saade said.

The announcement by France's CMA CGM that it was quitting Iran deals a blow to Tehran's efforts to persuade European countries to offer economic benefits to offset the new US sanctions.

European powers which still support the nuclear deal say they will do more to encourage their businesses to remain engaged with Iran. But the prospect of being banned in the United States appears to be enough to persuade European companies to keep out.

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