As had been previously reported, the European Commission on Friday enacted their “blocking statute,” which would forbid EU-based companies from complying with US sanctions against Iran. The statute also means EU courts will not recognize international claims related to those sanctions.
The commission aims to set the statute back into effect, but it won’t be formally done until at least 60 days from now. The US withdrawal from the Iran nuclear deal has a 90-day wind-down period, so theoretically there should be nothing to block until early August at any rate.
EU officials have been negotiating the matter all week, as an attempt to try to save the P5+1 nuclear deal with Iran after the US withdrew, and started reimplementing sanctions. EU leaders have agreed that the entire union will work together in protecting the deal.
Two major EU companies, Germany’s Siemens and France’s Total S.A. had previously indicated they’d stop Iran deals for fear of punishment from the US. With the law passed, they now have considerable protection, and would be violating EU law in refusing to do business over US sanction threats.
The US hasn’t yet responded to the move, but officials have indicated they are willing to directly target EU companies who keep trading with Iran. Secretary of State Mike Pompeo says he expects EU nations to back the US in killing the deal.
Great to hear. Enough innocents have died in the middle east because of immoral US sanctions.
Around the world.
I will be buying EU products and boycotting israel and US poisoned crap.
Wow I didn’t think the EU had the balls for such a move.
I think they’re that fed up.
EU always folds. IT Needs US market. Trump wants to cut some of the dependency of EU on US. And stimulate domestic production. Unless they spend more on military — that is buy more US weapons.
If this really does end up in a sanction conflict, and I have my doubts, it will hurt the American economy. Americans are already paying with higher gas prices. Israel and US foreign policy favoring Israel has cost way too much. Past time to eximine cost vs benefit.
There’s a benefit? I’m not aware of any.
Didn’t claim there was a “benefit”. Guessing you don’ t do much economic or business calculation. You might want to look up CBA.
The balls on these Europeans, finally!! At least for now.
Some of those European leaders, don’t have balls.
good to see
“…Secretary of State Mike Pompeo says he expects EU nations to back the US in killing the deal.”
the Empire of illusion thinks that it can and will forever be able to control all the nations under its thumb or within reach.
this time the US may be wrong
US has sixty days to change its mind and let the agreement it made with Iran remain until sunshine agreement comes seven years from now.
EU continues to abide by the agreement because IAEA testifies that Iran is not cheating in or hiding its nuclear activity.
I think that this was mostly the doing of Angela Merkel. May’s government will have to collaborate as long as GB is still in the EU. In fact, this development may complicate Brexit. Will the EU insist that GB honor the locking after GB leaves?
Good for the EU. They didn’t cower before Washington for a change.
But this means that for the next few months, Washington will apply increasing pressure and demands on the EU and European countries until they finally do cave.
Bribes and threats will be used, but being in charge of “the world’s reserve currency” gives Washington enough power to bend countries and corporations to its will.
Until that changes.
Pompeo and the CIA” intelligence”??????
I hope the EU keeps firm and blocks the criminal bullying by the USA, which is the one who did not conform to the rules of an agreement.
…And just like that, the Eurasian Century began.
The EU needs to stick to its guns. The American people overall don’t really care about whether Iran and the EU continue trade and we frankly would like to still trade with Iran. The problem is this belligerent warmongering regime of Washington DCs elite. The world needs to actually begin putting sanctions on them for their crimes against humanity in Yemen.