LONDON: French oil major Total has two months to seek exemption from US sanctions after Washington’s withdrawal from the international nuclear deal, Iran’s oil minister told state news agency SHANA on Wednesday.
The minister, Bijan Zanganeh, added that failure to secure an exemption would mean that China’s state-owned CNPC could take over Total’s stake in the South Pars gas project, lifting its own interest from 30 percent to more than 80 percent.
The United States this month said it would impose new sanctions against oil and gas producer Iran after abandoning the 2015 agreement that limited Tehran’s nuclear ambitions in exchange for sanctions relief.
“Total has 60 days to negotiate with the US government,” Zanganeh said, adding that the French government could also lobby Washington.
Total signed a contract in 2017 to develop phase 11 of the South Pars field with an initial investment of $1 billion — a contract Tehran repeatedly hailed as a symbol of the nuclear deal’s success.
A spokesman for Total told Reuters: “On May 16, we said that in accordance with our contractual commitments vis a vis the Iranian authorities, Total was engaging with the French and US authorities to examine the possibility of a project waiver.”
“It is the process and timing that was agreed upon in the SP 11 contract in case there would be sanctions. We activated the process planned in the contract,” he added.
He did not give any further details.
Total’s CEO Patrick Pouyanne said last week that the only way for the company to continue their project in Iran would be to have a special waiver, but added that “it’s quite unlikely.”
European powers still see the nuclear accord as the best chance of stopping Tehran from acquiring a nuclear weapon and have intensified efforts to save the pact.
Zanganeh also said on state television that an agreement with Europe would inspire other potential buyers of Iranian oil.
“Europe is buying only one third of Iranian oil, but an agreement with Europe is important to guarantee our sales, and find insurance for the ships ferrying the crude. Other buyers would also be inspired by this,” he said.
Lukoil Russia’s second-biggest oil producer, said on Tuesday that it had decided not to go ahead with plans to develop projects in Iran because of the threat of US sanctions.
Iran’s crude oil exports declined slightly in May, according to estimates from a leading tanker-tracking company, in the first sign that the threat of US sanctions may be deterring buyers.
Total has two months to seek US sanctions exemption, Iran oil minister says
Total has two months to seek US sanctions exemption, Iran oil minister says
- Iran's oil minister gives Total 60 days to win a sanctions waiver from Washington or it would lose its stake in a multi-billion-dollar gas project
- Total was the only western firm to finalise an investment deal in Iran's energy sector following the 2015 nuclear deal
Major airlines suspend, reroute flights amid US-Israel strikes on Iran
- Saudia says decision taken in line with aviation safety and security standards
- Emirates said it temporarily suspended it's operations out of Dubai
RIYADH: Major international airlines across the Middle East and South Asia have suspended, canceled or rerouted flights following ongoing US-Israel attacks on Iran and the resulting airspace closures, according to official statements issued via X.
Saudia said in an official statement that it had canceled a number of flights due to developments in the region and the closure of airspace.
The airline said the decision was taken in line with aviation safety and security standards, noting that its Emergency Coordination Center is closely monitoring developments with relevant authorities.
Saudia urged passengers to verify the status of their flights before heading to the airport and said guests would be notified of updates through the contact details associated with their bookings.
The carrier added that further information would be announced in a subsequent statement if available.
بيان رسمي من #الخطوط_السعودية pic.twitter.com/CHfjKj9yLX
— Saudia Group | مجموعة السعودية (@SaudiaGroup) February 28, 2026
Air Arabia said its flights were experiencing cancellations, delays or rerouting as a result of the evolving situation and airspace closures.
The airline advised passengers to check the status of their flights before traveling to the airport by visiting its website or contacting its call center.
Customers booked on affected flights will be notified directly, the airline said, adding that further updates would be provided as the situation develops.
Air India announced a broader suspension, stating that “in view of the developing situation in parts of the Middle East, all Air India flights to all destinations in the Middle East have been suspended.”
The airline said it remains committed to maintaining the highest standards of safety for passengers and crew and will continue to assess the safety and security environment for flight operations, adjusting services proactively as required.
Air India said its teams would extend necessary support to passengers and advised customers to check flight status online or contact its 24/7 call center for assistance.
#TravelAdvisory
— Air India (@airindia) February 28, 2026
In view of the developing situation in parts of the Middle East, all Air India flights to all destinations in the Middle East have been suspended. We remain committed to maintaining the highest standards of safety for our passengers and crew. We will continue to…
All flight operations at Dubai International and Dubai World Central – Al Maktoum International are suspended until further notice, according to a post by Dubai Media Office on X.
Dubai-based Emirates reported that regional airspace closures had caused disruption to several of its flights and that the airline had temporarily suspended its operations from its hub Dubai.
The airline said it is actively monitoring the situation, engaging with relevant authorities and adjusting operations in line with the latest developments.
The carrier apologized to affected customers and said it is assisting them with rebooking, refunds or alternative travel arrangements, reiterating that the safety and security of passengers and crew remain its highest priority.
Due to multiple regional airspace closures, Emirates has temporarily suspended operations to and from Dubai.
— Emirates Support (@EmiratesSupport) February 28, 2026
Emirates urges customers to check https://t.co/Ucm3UswfVh and https://t.co/yehFUeWZQq for the latest updates before proceeding to the airport.
We are actively monitoring… pic.twitter.com/SLDC7iNaUN
Qatar Airways confirmed a temporary suspension of flights to and from Doha due to the closure of Qatari airspace.
The airline said it is working closely with government stakeholders and relevant authorities to support impacted passengers and will resume operations once the airspace reopens.
It warned that delays are anticipated when usual operations resume and said additional ground staff have been deployed at Hamad International Airport and other key airports to assist passengers.
Temporary Suspension of Qatar Airways Flights due to Qatari Airspace Closure
— Qatar Airways (@qatarairways) February 28, 2026
Qatar Airways Group confirms the temporary suspension of its flights to, and from, Doha due to the closure of Qatari airspace.
The airline is working closely with government stakeholders and the…
Meanwhile, Al Jazeera reported that British Airways had canceled flights to Tel Aviv and Bahrain, adding to the list of carriers adjusting operations.
Across their statements, airlines consistently cited airspace closures and safety considerations as the primary reasons for suspensions and disruptions, while urging passengers to monitor official channels for updates as the situation continues to evolve.
