“American employees of German companies like Bayer, Thyssen Krupp and Seimens should worry about their jobs”
Siemens has already announced that it is withdrawing from Iranian investment plans, as did German insurer Allianz. French oil major Total is cancelling a big $2 billion gas deal.
The biggest blow so far is Danish shipping giant Maersk - no new contracts that were not already in process by 8 May. Maersk not only has one of the largest tanker fleets in the world (striking at Iran’s oil export revenues), they are the world’s largest container shipping fleet.
Not only is Iran hugely dependent on oil and gas exports, they are also hugely dependent on imports of most else. They can not make most of the stuff they need. Their supply chain is built around containerized imports through a single port, Bandar Abbas. Just transitioning to trucking in imports (rail connections suck) would be be epic adjustment if they had the time and money - but they won’t. Hello Venezuela.
Anything they need to buy, is suddenly going to require huge premiums and cash up front, anything they sell, they will be under great pressure to discount.
aaahh maersk. that could be a big deal