Shadows of Airbus members in silhouette in front of a poster of an A321 as IranAir takes delivery of the first new Western jet under an international sanctions deal in Colomiers, near Toulouse, France, January 11, 2017. REUTERS/Regis Duvignau
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Major companies, particularly in Europe, could see billions of dollars in commercial deals canceled because of the U.S. decision to reinstall sanctions on Iran, though the ultimate impact remains unclear due to the possibility of renegotiations and exemptions, experts say. U.S. President Donald Trump's decision to withdraw from the Iran nuclear deal and reimpose sanctions on Iran means companies worldwide must stop doing business with the country or else run afoul of the U.S. government.Companies and countries with commercial deals with Iran would have either 90 or 180 days to wind down those activities, depending on the type of products being sanctioned. Since the Iran nuclear deal was struck in 2015, it was mainly European companies that moved back in to strike deals with Iran, making Trump's decision particularly painful for the region.Mnuchin said the U.S.'s goal is to impose tough sanctions that will prompt Iran to renegotiate the Iran nuclear deal.
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