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U.S. Sanctions Spur Total, Shell to End Iran Projects

Expanded U.S. sanctions on Iran and businesses active there have prompted four of Europe’s five biggest oil companies to stop investing in the Persian Gulf state, the State Department said yesterday.

Royal Dutch Shell Plc, France’s Total SA, Italy’s Eni SpA and Norway’s Statoil ASA are “in the process of terminating” their activities in Iran, according to the State Department.