Iran Warns US-Abiding Companies

Iranian Foreign Ministry Spokesman Seyed Abbas Mousavi reminded those foreign companies which abide by the US’ unilateral sanctions that returning to his country will be very difficult for them, rapping two South Korean businesses for surrendering to Washington’s bullying.

News ID: 449093

Date: 16 February 2020 - 11:52

RNA - In a tweet late on Friday, Mousavi said some foreign companies that left Iran after surrendering to the US bullying should know that getting back to the Iranian market will be very difficult for them.

Trade Law says that maintaining market is harder than entering it, he said.

The spokesman said substitute companies will definitely replace those leaving the country.

Following the withdrawal of some foreign companies from Iran because of US’ intimidations, Tehran is giving more chances to domestic rivals, which has led to more self-reliance and a boom in domestic industries. Many hold that US’ sanctions have been acting as a stimulus for turning the situation into an opportunity for home industries.

For instance, in oil industry, the MAPNA Group, an energy engineering conglomerate, won a $1.4 billion worth contract with a subsidiary of Iran’s oil Ministry to develop two oil fields in the Southwestern province of Khuzestan where the giant company is slated to drill and repair 35 wells.

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