Shares of major French companies feel the tremors of U.S. withdrawal from Iran nuclear deal

The U.S. withdrawal has made dealing with Iran more complicated for EU companies which have business ties to Iran.

With U.S. President Donald Trump withdrawing the United States from a nuclear deal with Iran, shares of major French companies, which have business ties to Iran, including plane manufacturer Airbus and carmaker PSA, tread a southern path on Wednesday.

PSA’s shares were down by 1.5% while Renault’s shares were marginally down by 0,3%.

Renault also has business ties with Iran.

Shares of Airbus fell by 1.1%.

Shares of Total, an oil group, which does business in Iran, rose by 0.7%.

Oil prices have risen following Trump’s announcement of withdrawing the U.S. from its former landmark nuclear deal with Iran.

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