French Total to sign multibillion dollar gas deal with Iran

A consortium led by France’s Total is set to sign a $4.8-billion gas deal on Monday with Iran, the Islamic republic’s first major energy contract with a European oil company more than a decade a month after the US Senate signed new sanctions against Iran.

Total is the first international company to sign an oil contract with Tehran since six major powers signed the 2015 international nuclear accord with Iran. The French company said the project would be “in strict compliance with applicable national and international laws”.