Iran: US sanctions threaten MTN

This is not the big love between the United States and Iran right now. Recently, Washington announced its withdrawal from the nuclear deal with Tehran. A decision that follows sanctions that the Trump administration threatens to inflict on Iran.

After the withdrawal of the United States from the nuclear agreement with Iran, it is the turn of the economic sanctions brandished by Washington against Tehran.

In addition to the threatened Iranian economy, the African telephone operator MTN appears to be also threatened by these economic sanctions. Indeed, the leaders of the company are worried about their rather dynamic subsidiary in Iran.

The company that is very successful in Africa fears that the transfer of the money generated by its subsidiary in Iran cannot be done because of US sanctions. This is nearly $237 million to be repatriated to Africa.

Already affected by the suspension measures that hit Syria where the company also has a subsidiary, it faces economic sanctions.

Uncertainties related to Iran’s MTN subsidiary had begun to be established on May 9 when the South African giant’s stock price tumbled 4% when the session opened on the Johannesburg Stock Exchange.

Iran is a major market for MTN with 43 million subscribers registered last year.