European oil companies refuse to withdraw from Iran despite U.S. sanctions

Several European energy giants said on the 1st that they will not be forced by the pressure of the United States to end their commercial activities in Iran and will continue to purchase Iranian crude oil. They will consider exiting Iran only after the current contract expires. However, in the face of the "big stick" sanctions imposed by the United States and the European Union, these energy companies said that business activities in Iran will comply with the provisions of the sanctions measures.

U.S. President Barack Obama signed a bill in July that authorizes government agencies to sanction foreign companies involved in the Iranian energy industry.

In an interview with an Iranian official on the 1st, Thaksin reported that the Iranian government may announce a reduction of fuel subsidies in the coming weeks to substantially increase gasoline prices in order to reduce the impact of sanctions.