French-energy company Total SA is halting development of a large Iranian gas field unless it receives a waiver from the U.S., which is reimposing stiff sanctions targeting the Islamic republic.

President Trump withdrew from a nuclear accord with the country reached by his predecessor earlier this month, promising to reinstate punitive financial measures after a 180-day wind-down period. The announcement put international companies that previously agreed to projects in Iran in a difficult spot, because proceeding might subject them to hefty U.S. fines through so-called secondary sanctions.

Total cited that concern in announcing it was halting work with the Iranian national oil company subsidiary PetroPars to develop the South Pars natural gas field.

“Total has always been clear that it cannot afford to be exposed to any secondary sanction,” the company said

The firm, which is seeking a waiver from the U.S., will have to unwind all project operations before Nov. 4 if it doesn't receive one. At risk, Total said, is financing from U.S. banks, the loss of U.S. shareholders and the inability to continue U.S. operations. The company said it has spent less than 40 million euros, or $47 million, on the project so far.

A top Chinese energy company also involved in Total's agreement said it would take the French company's place if necessary.