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Trump's Iran Deal Withdrawal Increases Uncertainty for Austrian Companies

Published: May 11, 2018; 11:55 · (Vindobona)

Austrian companies react in a wait-and-see manner. The withdrawal of the US from the Joint Comprehensive Plan of Action (JCPOA) with Iran means in practice that the suspension of sanctions will no longer be extended. Considerations range from an immediate halt to activities in Iran to the longest possible active participation within the new sanctions framework. It is unlikely that Austria's exports will reach the 300 million euro mark of the previous year.

Export: It is unlikely that Austria's exports will again reach 300 million euros. / Picture: © Vindobona

In a survey of Austrian companies operating in Iran, the Austrian Economic Chamber sees the US withdrawal from the JCPOA as a wait-and-see process for the time being.

It is now important to analyze the details and their effects and wait and see how the other contracting parties will react, explains Michael Otter, head of "Aussenwirtschaft Austria" at the Chamber of…

This article includes a total of 289 words.

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