OMV AG CEO Rainer Seele has called on Europe's politicians to do more to protect companies from US sanctions. "There is still a risk of sanctions for European countries," Seele said, speaking to Bloomberg TV.
"We do not see any significant protection from European politicians," the official lamented.
The second threat to OMV is the US's demand that allies suspend economic ties with Iran following Washington's exit from the Iran nuclear deal in May. The US's decision to reimpose sanctions against Tehran includes sanctioning any countries which do business with Iranian energy concerns. Earlier, the US State Department demanded that countries buying oil from Iran bring their purchases down "to zero" by the time sanctions kick in on November 4. Last month, Rainer Seele confirmed that his company would pull out of Iran before then, saying that the prospect of US sanctions was "a much bigger risk for OMV's business than any possible compensation [from] Europe…could offer."
In his Bloomberg interview, Seele said that his company is continuing to study the question of whether US politicians actually intend to sanction companies involved in the construction of Nord Stream 2. According to the official, the project has already been allocated two thirds of the necessary funding. Seele reiterated that the project was "in Europe's interests."
