PARIS—French auto maker Peugeot PSA said Monday it was halting investments in Iran to comply with U.S. law after the Trump administration’s decision to withdraw from the Iranian nuclear accord.
Peugeot’s move deals a major blow to Europe’s efforts to salvage the agreement by keeping European companies operating in Iran. With U.S. sanctions set to be reinstated in the coming months, companies located anywhere in the world risk huge fines from U.S. authorities if they continue to do business in the country.
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