May 24, 2018 / 6:50 PM / a year ago

Total chief says holds little hope for Iran waiver

ST PETERSBURG, Russia (Reuters) - The chief executive of French oil and gas major Total on Thursday said he held little hope of receiving a waiver from the United States to keep investing in a huge Iranian gas project.

“In Iran we need a waiver from the United States. You heard Mr Pompeo just as I did. Do you really think he’s going to hand out waivers,” Patrick Pouyanne told reporters in the Russian city of St Petersburg, referring to the threat by U.S. Secretary of State Mike Pompeo to impose the “the strongest sanctions in history” against Iran.

Total said on May 16 that it would pull out of the multi-billion dollar South Pars project if it did not receive a waiver.. Total said any waiver would need to include protection from secondary sanctions that Washington might impose on companies that continue to do business with Iran.

Reporting by Michel Rose; Writing by Richard Lough; Editing by Alexandra Hudson

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