Tuesday, 18 December, 2018

Europe to exempt its firms from United States sanctions on Iran

Energy When Europe undertakes the task of saving Iran Europe to exempt its firms from United States sanctions on Iran
Steven Clarke | 18 May, 2018, 12:47

Still, Europe should do "everything in its power" to protect the transatlantic bond, Tusk added.

But Europeans are increasingly exasperated by the way Trump is steering U.S. policy, objecting not only to his stances but also to what they say is erratic policy making that switches on the whim of Fox News programmers.

"On the Iran nuclear deal, we unanimously agreed that the European Union will stay in the agreement as long as Iran remains fully committed to it".

Leaders including Macron and German Chancellor Angela Merkel agreed that the commission, the EU's executive, is prepared to discuss trade concerns with the USA including deepening energy ties and reform of the World Trade Organization once a permanent waiver is in place, the official said.

"If the JCPOA is supposed to continue, it was a good start and it has sent an important political message, but this is not the end of the work", Zarif said on his flight back to Tehran, according to state news agency IRNA.

The leaders had discussed a broad agenda for such discussions: a scoping exercise to eliminate reciprocal tariffs on industrial products, liberalising of government procurement, the "energy relationship" notably of liquified natural gas, voluntary regulatory co-operation on product safety rules and WTO reform.

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European countries are committed to guaranteeing the interests of European businesses in Iran after U.S. sanctions are imposed, Zaharieva said.

"With the withdrawal of the United States from the treaty the banks are no longer ready to fund Iranian projects for fear of secondary sanctions", Danieli CEO Alessandro Trivillin said. "We have opted to support it whatever the U.S. decides to do", said the French president on arrival at the Sofia summit. Whatever the case, EU leaders insist that there is no chance of relaunching the very unpopular TTIP talks, the major EU-US trade agreement torpedoed by Trump when he entered office a year ago. "But at the same time we must be prepared for those scenarios, where we will have to act on our own", said Tusk, a former Polish prime minister. "That's the task for the future".

"With the sanctions the Americans are to impose, you can't do business in Iran if you also have business in the USA, and we have that on a large scale", Skou told Reuters in an interview following the firm's first-quarter report.

He said that the European Union only wanted to "maintain a status quo, and some links with the USA, until a new president arrives, hoping it is someone else [after the 2020 election]". But Trump has also lambasted his European peers by not spending enough on defence, raising doubts among many in Europe about his commitment to North Atlantic Treaty Organisation and the broader European security. As EU leaders munched their way through the shopska salad and other Bulagarian fare - surely some Rakia was downed - Trump's "capricious" sauce was served with each course.

In addition to Russia's destabilising policies or China's military and commercial rise, Trump's United States has raised another question for the EU.

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