Total, France’s largest energy company, announced on Monday it was pulling out of a $4.8 billion (€4.1 billion) Iranian gas field project, after admitting it was extremely vulnerable to the threat of US penalties against those doing business with Iran. The French group was one of three major energy companies set to help supply the state-of-the-art technology needed to tap into South Pars, the world’s largest natural gas field shared by Iran and Qatar. However, after abandoning the 2015 Iran nuclear accord in May this year, the United States has said it will reimpose sanctions on Iran in two phases,...