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.