France

"Following the US withdrawal from the JCPOA announced on May 8th, 2018, the Group has begun to suspend its JVs activities, in order to comply with US law by August 6th, 2018. With the support of the French Government, the Groupe PSA is engaging with the US authorities to consider a waiver." (6/4/2018).

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"In other sectors, French carmaker PSA Peugeot Citroen reached a deal in 2016 to open a plant producing 200,000 vehicles annually in Iran. It said Wednesday that it is studying the implications of the U.S. move and hopes the European Union will have a united position on the Iranian sanctions." (May 9, 2018). 

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"French carmaker PSA Group has invited Iran Khodro (IKCO) to set up a production line for Peugeot cars in Algeria, the Islamic Republic News Agency (IRNA) reports. PSA executive vice-president for purchasing, Yannick Bézard, on Tuesday visited Tehran-based Iran Khodro which has signed production deals worth 700 million euros with PSA. Bézard said Iran Khodro can either provide Peugeot with auto parts it needs at its Algeria site or establish a production line in the North African country as a member of the French automaker." (January 31, 2018).

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"PSA on Wednes­day reported a rise in car unit sales for 2016 thanks to business in Iran which the carmaker is including again after the end to sanctions against Tehran. With the integration of sales from joint ventures and licence agreements in Iran, Peugeot booked a rise in deliveries of 5.6pc. On a comparable basis, without the integration of the Ira­nian contribution, the figure dropped by 2pc from 2015. The group’ s three brands Peugeot, Citroen and DS, sold just over three million cars last year, of which 233,000 were produced under licence in Iran. In 2015, the group sold 2.9 million units. PSA’ s post-sanctions return to Iran resulted in joint ventures with local companies Iran Khodro and Saipa, and a partnership with Arian Motor." (AFP, "Iran car sales keep PSA on growth track," 1/11/2017).

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"Citroen cars will roll off an assembly line in Iran starting from 2018, under a deal between French automaker PSA and Iran's SAIPA finalised on Thursday, PSA said. The joint venture, in which PSA and SAIPA will each have a 50 percent stake, will see cars produced at a plant in Kashan, some 200 kilometres (120 miles) south of the capital Tehran... The Kashan plant is used to produce Citroen cars but has not made one since the start of the decade. The two firms plan to invest "more than 300 million euros ($335 million) in manufacturing and R&D capacity over the next five years," PSA said in a statement. The move follows PSA's 400-million-euro deal in June with Khodro to build 200,000 Peugeot vehicles a year in Iran by 2018." (AFP, "Citroen maker seals Iran joint-venture deal," 10/6/2016).

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"Iran will play a “central” role in French carmaker PSA’s strategic plans for the Middle East, the head of the manufacturing group said Wednesday on his first visit to the country. “Iran is central to the implementation of the strategic growth plan of the PSA group,” Carlos Tavares said during a visit to its local partner, Iran Khodro. The trip cemented a 400 million-euro ($448 million) deal signed in June for the two companies to resume their old partnership, which was cut short by international sanctions in 2012... June’s 50-50 deal created IKAP (Iran Khodro Automobiles Peugeot) which plans to produce three vehicle types, starting in 2017 with the small urban 4x4 Peugeot 2008. The mid-size 301 and small five-door 208 will follow shortly after. PSA aims to reach 200,000 units by 2021, and it hopes to meet the Iranian government’s wish of exporting 30 percent of the production. “Iran is going to be the No. 1 sourcing base for this region,” Tavares said, reiterating PSA’s goal of selling a million units across the Middle East by 2025. “When we reach that number in 2025, 75 percent of this production will be produced in the region ... and of course Iran will be the No. 1 producer,” he added." (AFP, "Iran 'central' to French carmaker's regional plans," 10/6/2016).

As of February 2022, Bouygues is not listed on Michigan's state list of companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bouygues ineligible for investment and/or state contracting.

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In 2018, the U.S. state of Michigan listed Bouygues on its state list of Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bouygues ineligible for investment and/or state contracting.

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May 2017 – “A preliminary deal signed by Bouygues (BOUY.PA) last year to build and run a new terminal at Tehran’s Khomeini airport has been canceled, a spokesman for the French construction group said on Friday.”

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"European companies are promising billions in new deals in Iran—€5.7 billion from Italian steelmaker Danieli and more than €300 million from French car builder PSA Peugeot Citroën, among others—as Iranian President Hassan Rouhani works to revive trade and political ties on the Continent this week. Mr. Rouhani landed in Rome on Monday on his first overseas trip since the European Union lifted sanctions on Jan. 16 in return for Tehran’s implementation of key restrictions on its nuclear program. The trip will take Mr. Rouhani from Vatican City—marking the first meeting between an Iranian president and a pope since 1999—to the gilded halls of Paris’s Élysée Palace. With a number of U.S. sanctions still in place, European countries are moving quickly to re-establish ties to sell everything from consumer goods to aircraft. Italian and Iranian companies signed deals valued at about €17 billion ($18.36 billion) late Monday ahead of a formal dinner between Mr. Rouhani and Italian Prime Minister Matteo Renzi. Earlier in the day, Italian steel firm Danieli said it would sign deals valued at about €5.7 billion during the visit. Other firms signing agreements on Monday included oil-field services company Saipem SpA, energy group Ansaldo Energia and ship maker Fincantieri SpA... In France, auto makers, airport operators and construction firms were primed for a raft of accords when Mr. Rouhani visits French President François Hollande on Thursday. French car maker Peugeot is expected to complete an agreement to manufacture cars in Iran as part of a 50-50 joint venture with auto maker Iran Khodro valued at more than €300 million, according to a person familiar with the matter... In opening its doors for business, however, Tehran is demanding European firms locate technological know-how and factories inside Iran to revive the country’s hobbled job market. Another key plank of Iran’s ambitions is the revamping of its creaky aviation industry. Iranian officials say they plan to buy more than 100 new jets from Airbus Group SE to replenish the country’s small and poorly maintained commercial passenger fleet. Mr. Rouhani’s meeting with Mr. Hollande in Paris on Thursday is timed to the unveiling of about €400 million in contracts to expand Iran’s aging airports for increased tourism and business traffic, one of the people familiar with the matter said. Tehran is expected to tap French airport operator Aéroports de Paris and construction-and-media conglomerate Bouygues SA to design and build a new terminal at Tehran’s Imam Khomeini International Airport, according to the people. French construction firm Vinci SA will develop and operate airports in Mashhad and another Iranian city, the people said... Just minutes after Mr. Rouhani landed in Rome, Italian airline Alitalia SpA said it would boost the number of flights between Rome and Tehran from four times a week to daily, starting March 27." (Wall Street Journal, “Iran President Visits Europe to Seal Post-Sanctions Deals Worth Billions,” 1/25/2016)

"The company as well as its fellow French partner Aeroports de Paris, however, canceled the $2.8 billion agreement in 2017, citing failure to get financial backing from international banks, which are still wary of US sanctions over their activities in Iran."

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In February 2017 Aeroports de Paris pulled out of the project to develop a new terminal at Iran’s airport.  

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Aéroports de Paris, within its consortium, has signed a memorandum of understanding to develop Iman Khomeini International Airport in Teheran. (January 28, 2016).

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"European companies are promising billions in new deals in Iran—€5.7 billion from Italian steelmaker Danieli and more than €300 million from French car builder PSA Peugeot Citroën, among others—as Iranian President Hassan Rouhani works to revive trade and political ties on the Continent this week. Mr. Rouhani landed in Rome on Monday on his first overseas trip since the European Union lifted sanctions on Jan. 16 in return for Tehran’s implementation of key restrictions on its nuclear program. The trip will take Mr. Rouhani from Vatican City—marking the first meeting between an Iranian president and a pope since 1999—to the gilded halls of Paris’s Élysée Palace. With a number of U.S. sanctions still in place, European countries are moving quickly to re-establish ties to sell everything from consumer goods to aircraft. Italian and Iranian companies signed deals valued at about €17 billion ($18.36 billion) late Monday ahead of a formal dinner between Mr. Rouhani and Italian Prime Minister Matteo Renzi. Earlier in the day, Italian steel firm Danieli said it would sign deals valued at about €5.7 billion during the visit. Other firms signing agreements on Monday included oil-field services company Saipem SpA, energy group Ansaldo Energia and ship maker Fincantieri SpA... In France, auto makers, airport operators and construction firms were primed for a raft of accords when Mr. Rouhani visits French President François Hollande on Thursday. French car maker Peugeot is expected to complete an agreement to manufacture cars in Iran as part of a 50-50 joint venture with auto maker Iran Khodro valued at more than €300 million, according to a person familiar with the matter... In opening its doors for business, however, Tehran is demanding European firms locate technological know-how and factories inside Iran to revive the country’s hobbled job market. Another key plank of Iran’s ambitions is the revamping of its creaky aviation industry. Iranian officials say they plan to buy more than 100 new jets from Airbus Group SE to replenish the country’s small and poorly maintained commercial passenger fleet. Mr. Rouhani’s meeting with Mr. Hollande in Paris on Thursday is timed to the unveiling of about €400 million in contracts to expand Iran’s aging airports for increased tourism and business traffic, one of the people familiar with the matter said. Tehran is expected to tap French airport operator Aéroports de Paris and construction-and-media conglomerate Bouygues SA to design and build a new terminal at Tehran’s Imam Khomeini International Airport, according to the people. French construction firm Vinci SA will develop and operate airports in Mashhad and another Iranian city, the people said... Just minutes after Mr. Rouhani landed in Rome, Italian airline Alitalia SpA said it would boost the number of flights between Rome and Tehran from four times a week to daily, starting March 27." (Wall Street Journal, “Iran President Visits Europe to Seal Post-Sanctions Deals Worth Billions,” 1/25/2016)

"Signed a MOU for cooperation on developing Iranian railways in 2017." (“Tehran, Paris ink railway coop. agreement,” Mehr News Agency (Iran), February 20, 2017.")

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In a separate agreement, which was also signed in Paris on January 27, French National Railways (SNCF) will support Iranian Islamic Republic Railways (RAI) in the redevelopment of key stations, suburban rail projects in major cities, Iran's high-speed programme, and the organisational restructuring of RAI. (January 29, 2016).

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"France and Iran hailed a set of business tie-ups and export deals on Thursday including the sale of dozens of Airbus planes and a car factory revamp that re-ignites a decades-old relationship between Tehran and carmaker Peugeot. The deals, some of which were not yet finalised, were announced at a Franco-Iranian business forum attended by Iranian President Hassan Rouhani and a host of ministers and business leaders. The visit follows a deal between Iran and the west on the middle-eastern country's nuclear program that resulted in the lifting earlier this month of trade sanctions. With four business arrangements flagged by France's main industry body including the PSA Peugeot Citroen tie-up and a plan to sell over 100 Airbus passenger planes, French Prime Minister Valls said there would also be agreements signed in the areas of health, agriculture and the environment. The deals come despite a background of continued diplomatic tension with France, one of Iran's fiercest critics during the sanctions-lifting talks, and as human rights protests against the visit took place in the French capital. 'Let's forget past differences and start anew,' Rouhani said in a speech to the forum. Exactly what stage the Airbus deal was at remained unclear on Thursday, but French officials said Iran was putting the finishing touches to the deal... Pierre Gattaz, head of France's Medef employers association, said French national railway operator SNCF and aluminum company Fives were also expected to unveil deals. 'Iran's needs are enormous,' Gattaz told reporters. 'Iranians need everything. The country is not starting from scratch, it's got a very educated workforce, a real development potential.'" (Reuters, “Protesters march, France eyes business deals as Iran's Rouhani visits,” 1/28/2016)

"Italy on Wednesday became the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions. The two countries signed an agreement during a two-day visit by Italian Prime Minister Matteo Renzi with a delegation of business leaders to increase trade between Italy and Iran and reinforce industrial cooperation. The deal was signed by the National Textiles and Fashion Association Sistema Moda Italia (SMI), which represents a sector worth more than 52 billion euros ($59 billion) in revenues, and its Iranian counterpart the Tehran Garment Union (TGU). It aims to cut red tape and make it easier for Italian companies to obtain the TGU licence required to operate in Iran. Some analysts estimate the oil-rich Islamic Republic of nearly 80 million people has more than 3 million high net worth individuals who are major and regular buyers of luxury goods. 'Iran could be an interesting expansion market, probably worth about 2 per cent of the global luxury market, once developed,' Exane BNP Paribas analyst Luca Solca said... Setting up businesses in Iran is also no easy task, executives and consultants say, due to a lack of appropriate retail infrastructure, high tariffs and banking restrictions. A lack of enforcement of international trademark protection agreements also means Iran is flooded with counterfeits. Italian firms appear to have adopted a more proactive attitude than their French luxury and fashion rivals. Some French brands such as the family-controlled handbag maker Longchamp and crystal maker Lalique, are looking for distribution partners but have no plans to open boutiques. 'For us Iran is a new region to conquer,' said Lalique Chief Executive and controlling shareholder Silvio Denz, who has been opening new markets for the brand's crystal jewellery and home wear items over the past decade.    One of the first big French companies to invest directly in Iran is LVMH's cosmetics retailer Sephora. It is in talks to open two to three shops in Teheran by the autumn, in partnership with an Iranian partner and the Middle Eastern luxury goods distributor Chalhoub, a source close to LVMH told Reuters." (Reuters, “Italy's fashion industry signs deal to build ties with Iran,” 4/13/2016)

"The civil aviation chief of Iran has said that the country intends to pursue legal action against both Airbus and ATR regarding their lack of parts supply." (Simple Flying, "Iran Eyes Legal Action Against Airbus And ATR Over Spare Parts Supply," (1/4/22).

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"Following the lifting of sanctions in January 2016, IranAir finalized contracts for purchasing 100 Airbus jets, 80 Boeing jets and 20+20 ATR [which is jointly owned by Airbus and Finmeccanica] aircraft. It has taken the delivery of 11 planes so far: one Airbus A321, two Airbus A330s and eight ATR 72-600s." (Financial Tribune, "50% of Iran’s Passenger Fleet Grounded by Technical Problems," 12/7/21).

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"Aerei da Trasporto Regionale, better known as Franco-Italian planemaker ATR, has been granted permission to supply parts to Iran by the US Office of Foreign Asset Control. This comes as positive news to Iran Air in particular; it operates a fleet of 13 ATR-72s." (Simple Flying, "ATR Receives Permission To Ship Parts To Iran," 8/14/2019).

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"Delivered five turboprop aircraft to IranAir on August 5, 2018; 13 of 20 aircrafts have been delivered." ("IranAir gets five more ATR regional planes before sanctions," Reuters, August 5, 2018.)

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"Has applied for new licenses from the United States to complete the delivery of turboprop aircraft to Iran; 8 of 20 aircraft have been delivered." ("ATR seeks U.S. approval to deliver planes to Iran before cut-off," Reuters, July 4, 2018.)

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"Regional aircraft manufacturer ATR says it must give up delivering the remaining aircraft ordered by Iran because of new US sanctions and that it will try to reclassify 12 aircraft if it does not obtain a waiver." (June 27, 2018).--

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European plane maker ATR is delivering small passenger jets to Iran, the latest big-budget deal to emerge in the wake of Iran’s 2015 nuclear accord with world powers that ended years of sanctions. The first four ATR 72-600s were handed over to Iran Air in a ceremony Tuesday in Toulouse in southern France, where ATR is based.

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"European airplane manufacturer ATR said Thursday it sealed a $536-million sale with Iran Air for at least 20 aircraft, the latest aviation firm to strike a deal following Iran's nuclear accord with world powers. ATR spokesman David Vargas confirmed the finalized deal for the 20 ATR 72-600s, a twin-propeller aircraft, and said Iran Air had an option to purchase another 20. "They will definitely help Iran Air to modernize and develop regional connectivity across the country," Vargas told The Associated Press. Home to 80 million people, Iran represents one of the last untapped aviation markets in the world. However, Western analysts are skeptical that there is demand for so many jets or available financing for deals worth billions of dollars. Vargas declined to offer a value for the deal with Iran Air. The confirmed portion of the deal is worth $536 million at list prices, though buyers typically negotiate discounts on bulk orders. Iranian state TV described the deal as being worth about $400 million." (Associated Press, "Airplane Maker ATR Signs $536M, 20-Aircraft Deal With Iran," 4/12/17).

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"IranAir has finalised a deal to buy 20 turboprop aircraft from Franco-Italian ATR, the minister overseeing Iran's post-sanctions fleet renewal was quoted on Wednesday as saying... Such a deal would be worth 540 million euros ($571 million)at list prices. ATR, co-owned by Airbus and Italy's Leonardo, declined to comment. The company's chief executive told Reuters last month it had completed commercial negotiations with IranAir and expected to be able to sign a contract very soon... IranAir and ATR have spent months negotiating a firm order for 20 ATR 72-600 aircraft, with options for another 20. But officials said last month a final deal has been held up due to uncertainty over some export licences for spare engines made by a Canadian subsidiary of Pratt & Whitney. The engine maker has said it is working closely with ATR to ensure all necessary approvals are in place." (Reuters, "IranAir Finalises Deal to Buy 20 ATR Planes," 2/15/2017).

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"Turboprop maker ATR has completed commercial negotiations with IranAir for the sale of at least 20 aircraft and expects to be able to sign a contract very soon, the head of the Franco-Italian aircraft maker said on Friday... "We have concluded the negotiations and we should sign the contract imminently," ATR Chief Executive Christian Scherer said. Scherer was responding to some Iranian media reports on Friday that ATR had already announced the signature of the keenly awaited deal... IranAir and ATR have spent months negotiating a firm order for 20 ATR 72-600 aircraft worth 540 million euros ($576 million) at list prices, with options for another 20." (Reuters, "ATR Says Aircraft deals with Iran Imminent," 1/20/2017).

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"The head of IranAir took delivery on Wednesday of the first new Western jet under an international sanctions deal... The 189-seat plane is the first of 100 ordered from Airbus following a deal reached in 2015 between Tehran and world powers to lift nuclear-related sanctions against Iran, in return for restrictions on the country's nuclear activities... The airline has also ordered 80 aircraft from Boeing and is expected to seal an order for 20 turboprops from Europe's ATR." (Reuters, "IranAir Takes delivery of First Airbus Jet Post-Sanctions," 1/11/2017).

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"Iran and European planemaker ATR are due to sign a deal next week for the purchase of 20 short-haul passenger aircraft, an Iranian official said on Saturday, weeks after Tehran finalised deals with Boeing and Airbus. ATR, co-owned by Airbus and Italy's Leonardo Finmeccanica, in February reported preliminary orders from Iran for 20 twin-engine turboprop ATR 72-600 aircraft... [the official] added that the contract for 20 planes was worth $400 million." (Reuters, "Iran and European Planemaker ATR to Sign Contract Next Week," 12/31/2016).

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"Franco-Italian turboprop maker ATR is putting together to a mix of banks and lessors to help finance the euro-denominated sale of 40 of its planes to Iran, the plane maker’s Chief Executive Patrick de Castelbajac said. The company hopes to deliver the first of its regional planes by the end of the year." (The Wall Street Journal, “Iran Faces Financial Hurdles for Airbus Orders,” 6/1/2016)

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"Iran is continuing its aircraft-buying spree days after announcing a blockbuster, $27 billion order for 118 Airbus Group SE jetliners. ATR, the plane-making joint venture of Airbus and Italy’s Finmeccanica SpA, said on Monday that it would sell up to 40 turboprop planes to the Islamic Republic’s flag carrier Iran Air. The deal is valued at around 1 billion euros ($1.1 billion) at list price, the Toulouse-based plane maker said. The deal includes the purchase of 20 ATR 72 turboprop planes with options for 20 more... Iranian transport minister Abbas Akhoundi said last week that many of the country’s airports were largely idle because of a lack of planes after years of sanctions. Iran is seeking foreign investment to upgrade regional airports, which would likely be the main bases where the ATR planes would operate, the minister said. Patrick de Castelbajac, chief executive of Avions de Transport Regional, as ATR is formally called, said ''we are honored to take part in this new era in Iran by providing the national airline with aircraft that will strongly contribute to reinforce and boost regional transportation across the country.' French and Italian export credit agencies are assisting in financing of the planes." (The Wall Street Journal, “Iran to Buy up to 40 ATR Turboprop Planes,” 2/1/2016)

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On February 1, 2016, ATR announced that it had signed a €1.0 billion Euro deal with the Iranian flag carrier airline, Iran Air, for “40 newest generation ATR 72-600s.”  (Airbus Group Website, “40 newest generation ATR 72-600s,” 1/2/2016).  

"France’s airline Air France said on Wednesday the company has suspended flights over Iraq and Iran airspace after Iranian missile strikes targeting U.S.-led forces." (Reuters, "Air France suspends flights over Iraq and Iran airspace," 1/8/20).

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According to its website, “Melika Seir is the direct agent of … Air France [and] KLM (https://melikaseir.com/en/services/). 

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"An Air France jet flying from Paris to Mumbai on Wednesday was diverted to an airport in Iran after officials say the aircraft suffered a “malfunction” in the ventilation system." (Fox News, "Air France flight diverted to Iran over ventilation 'malfunction', officials say," 5/8/2019). 

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"Will stop services to Iran in September 2018, citing "weak commercial results" in light of U.S. sanctions." ("Air France-KLM, BA Pull Out of Iran Amid U.S. Sanctions," Bloomberg, 8/24/2018.)

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"Much of the growth in international air traffic is due to airlines increasing capacity or frequency of existing routes. But it also includes many European airlines, such as Air France and British Airways, that have been able to restart flights to Iran after long hiatuses... “Iran went from a marginalized and difficult place in the world economy in 2013 to a place of growth,” said Ray Takeyh, a fellow at the Council on Foreign Relations specializing on Iran." (The Washington Post, "Iran's nuclear deal divided: Skies full of planes," 11/2/2016).

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Air France - KLM is one of the companies listed as a speaker at the HR Trends Summit taking place from October 18-19, 2016 in Tehran, Iran. (Speakers).

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"When Air France-KLM resumed regular flights to Iran last month after an eight-year hiatus, gay flight attendants urged Chief Executive Officer Frederic Gagey to let them take a pass, given that homosexuality can get you executed in the Islamic Republic. 'It's inconceivable to force someone to go to a country where his kind are condemned to death for who they are,' stated their online petition, signed by almost 30,000 people... The brutal killing in Bangladesh last month of a gay activist employed by a U.S. aid agency and increased commerce with Iran following its nuclear deal framework have lent urgency to how companies interact with restrictive governments. Increasingly, it is chief executives instead of politicians who are faced with protecting the rights, and lives, of LGBT employees." (Bloomberg, “Protecting Gay Employees Where Being Gay Is a Crime,” 3/17/2016)

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"Several European airlines aim to resume their flights to Iran following a landmark nuclear deal between Tehran and world powers, the state-owned IRAN daily reported on Thursday. The newspaper quoted Mohammad Khodakarami, deputy head of Iran's civil aviation authority, as saying British Airways officials visited Tehran on Tuesday to discuss resumption of flights. He did not elaborate. Khodakarami also said both Air France and Dutch flagship KLM have already expressed their readiness to resume flights to Tehran. Air France said last month it would resume flights to Tehran for the first time in more than seven years starting in April. A KLM spokesman said the carrier always looks for opportunities for new destinations but has not yet make a decision about resuming flights that were suspended in 2013. 'At this moment there are no concrete plans to open Tehran. KLM follows the current situation concerning the lifting of sanctions against Iran closely,' spokesman Joost Ruempol said. BA also has not announced any firm plans to return to Iran, though Willie Walsh, the chief executive of its parent International Airlines Group, reportedly told a recent conference the airline is interested in flying to Tehran soon." (AP, “Iran: European airlines set to resume flights to Tehran,” 1/28/2016)

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KLM and Air France "have become the largest European airline group: one group, two airlines, and three businesses." (KLM Website, "Air France KLM")

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"Air France-KLM will suspend its Amsterdam-Tehran service starting April 2013, a spokesman for the carrier said. It currently flies to Iran four times a week." (Reuters, "Two airlines suspend Iran flights as economy weakens," 1/13/2013)

Axens is listed as a partner of the Iranian firm, Chagalesh Consulting Engineers (“Chagalesh”).  (Chagalesh Website, “About”). 

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According to the Bou Ali website, a number of process units at the Bou Ali Sina Petrochemical Complex were supplied by, among other companies, AXENS. (Bou Ali Website, “About Us”).

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In November 2017, talks were underway with France’s Axens to provide Nouri Petrochemical Company in southern Bushehr Province with technical expertise to build a special unit to sweeten heavy distillates.

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"International oil services companies are scrambling to win contracts worth tens of billions to repair and modernize Iran's oil refineries once sanctions are removed, with officials even laying on bus tours for visiting foreign executives. Officials from Iran's oil refining company NIORDC, its National Petrochemical Company and the privately owned Persian Oil and Gas are holding talks with services firms to clinch projects to repair Iran's derelict refining and petrochemical sector... Oil services companies that had been active in building refineries in Iran prior to the sanctions, including Australia’s WorleyParsons, France’s Technip and Axens, South Korea's Daelim and China's Sinopec Engineering were all interested in resuming business in the country, the sources said. The companies declined to discuss whether they are meeting in Iran." (Reuters, “Foreign firms scramble to fix Iran's refineries once sanctions end,” 8/17/2015)

"French cosmetics retailer Sephora will postpone the opening of several retail outlets in Iran to end-2017 from 2016 as initially planned because the right financial and political conditions are not yet in place, sources said on Monday. "Nothing will happen until the second half of 2017 at the earliest because conditions are not yet in place for things to happen," one of the sources close to the matter told Reuters. Sephora, part of luxury industry leader LVMH with around 2,000 outlets worldwide, is keen to build its presence in Iran where there is huge demand for cosmetics and especially make-up." (Reuters, "Cosmetics retailer Sephora postpones opening of Iran shops end-2017," 10/3/2016).

Sermas attended the Iran International Aluminium Conference held in Tehran on May 11-12, 2016. (Iran International Aluminium Conference Website, “List of International Attendees”). According to its official website, the Conference was co-convened by IMIDRO to bring together “industry front runners including producers, manufacturers and processors of raw materials to end products as well as suppliers of technologies and accessories for aluminium production, processing and refinement.”  (Iran International Aluminium Conference Website, “Conference Overview”).