World News

EU Must Defend Firms against US Iran Sanctions: Macron

EU Must Defend Firms against US Iran Sanctions: Macron

Major European powers have sought to keep Iran in a landmark worldwide nuclear agreement after President Donald Trump pulled the us out of the pact and promised tough economic sanctions against Tehran. The nuclear agreement of 2015 is an important element of peace and security in the region, and we chose to support it, whatever the U.S. decision was. The US Treasury Department said it would give European businesses six months to wind up their investments in the country or risk US sanctions - forbidding them from signing new contracts.

The 28 anxious EU leaders are gathering in the Bulgarian capital for discussions over dinner on how to salvage the nuclear deal and European business dealings with Iran from Trump's sanctions.

"But what is important is that companies and especially medium-sized companies which are perhaps less exposed to other markets, American or others, can make this choice freely".

In addition, France and the European Union are pressing Washington for exemption from Trump's steel and aluminium tariffs.

On May 8, US President Donald Trump refused to keep his country in the nuclear deal, which was achieved in Vienna in 2015 after years of negotiations.

More news: Mysterious rise in CFC11 emissions

Total on Wednesday said it might quit a multi-billion-dollar gas project unless it secured a waiver from US sanctions.

Total was the first major Western energy company to invest in Iran after sanctions with Iran were lifted but it has been joined by German insurer Allianz and Danish tanker operator Maersk in winding down their business in Iran.

German Federal Chancellor Angela Merkel criticized in the lower house of parliament (Bundestag), the withdrawal of the U.S. government from the nuclear agreement with Iran.

Finnish mining technology company Outotec said US sanctions would slow down and complicate its ties with Iran but it was too early to say if it would leave.


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