• News
  • Entertaiment

France to Propose Iran Sanctions-Blocking Measures to EU Parl't

France to Propose Iran Sanctions-Blocking Measures to EU Parl't

European businesses have the most to lose from renewed U.S. sanctions against Iran, analysts said Wednesday, with massive sums at stake for some of the continent's big names.

The U.S. withdrawal from the Iran nuclear deal is now a fact and the market has reacted as expected, namely with a knee-jerk reaction that saw Brent and WTI both jump by over 2 percent a day after President Trump made his announcement and continue climbing up.

U.S. sanctions policy is based on the extra-territoriality of American laws, meaning Washington also punishes foreign companies doing deals with Iran if they also have business with the U.S., or use dollars in their transactions.

"Do we want to be vassals who obey decisions taken by the United States while clinging to the hem of their pants?"

Washington has given European firms doing business in Iran up to six months to wind up investments or risk U.S. sanctions and they are also forbidden from signing any new contracts with Iran.

"You can try to circumvent sanctions, but not if you're a big company", he told AFP.

"These sanctions do impact all the major industries (in Iran)".

And that threat is far from empty.

Thousands later demonstrated across the country to protest Trump's withdrawal from the nuclear deal.

The US decision has also closed the door for plane lessors to do business with Iran, which had said that one alternative to get faster jet deliveries would be through leasing options.

Ranveer's Hindi Dubbing For Deadpool-2
MUMBAI-The hugely-anticipated trailer of " Deadpool 2 " in Hindi in the voice of none other than Ranveer Singh , is out. Since Deadpool 2 is nearly in theaters, the merc with a mouth is really stepping up his social media presence .

After Trump announced the US withdrawal from the deal on Tuesday, Rouhani warned that Iran would resume uranium enrichment at an even higher rate if the accord collapses.

Airbus has 97 planes for Iran on its backlog.

Mnuchin said it may be possible for some companies over the next three months to seek waivers from the sanctions or new licenses to do business with Iran, but he did not identify which companies.

The only certainty seems to be that the USA decision "does not target what is already in place", said Mahasti Razavi, a lawyer with the August Debouzy firm.

But German Chancellor Angela Merkel says the US withdrawal from the Iran accord isn't a reason to dump decades of trans-Atlantic ties altogether.

Merkel took a more measured tone. It was created to prevent Iran from obtaining a nuclear bomb.

European airplane maker Airbus was among the early beneficiaries and seized the opportunity to strike a 22.8 billion euros (US$25 billion) deal for 118 new aircraft to Iran in late January 2016, along with involvement in other operational and support activities locally.

Emma Marcegaglia, head of employers association BusinessEurope, said European companies needed "legal clarity" and were counting on the EU and its member states to assist companies.

French Finance Minister Bruno Le Maire said that European countries should push back harder against the Trump administration over the Iran nuclear deal and not act as "vassals" of the US.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

The Boring Company Has Almost Finished Digging A Tunnel Under LA

Musk's plans have drawn criticism from transportation experts who warn they may worsen traffic congestion. This has now been extended by around two miles, stretching toward Los Angeles International Airport, LAX.

Nepal FM visits Janakpur ahead of Modi visit

Prime Minister Modi is also scheduled to meet with President of Nepal Bidhya Devi Bhandari and Vice President Nanda Bahadur Pun. The same day, Oli and Modi will hold bilateral talks, where various issues related to Nepal-India relations will be discussed.

Arizona woman accused of stalking man, sending over 65k text messages

While being questioned by police, Ades reportedly admitted that her actions were "crazy". An Arizona woman is accused of doing just that.

First giant religious group announces break up with new boy scouts

In the last five years, the Boy Scouts began admitting gay and transgender Scouts , and ended its ban on openly gay adult leaders. Girl Scouts has worked closely with girls, volunteers, and staff to ensure its programs are what girls want and need.

Brooks & Dunn, Jake Owen and More Shine at Kentucky Derby

Despite the unpredictable conditions, history predicted the result - it was the sixth consecutive Derby that a favorite has won. Jockey Mike Smith , 52, is also being praised for the successful Derby run, but Smith is directing those praises upward.

Melania Trump announces 'Be Best' campaign for child well-being

The ratings come the same day the First Lady announced her " Be Best " initiative that will advocate for children. Trump does not live in this White House and that she lives with her parents somewhere in the suburbs". "Mrs.

Barca coach: I wish all Clasicos had a decaffeinated flavour

Defender , Raphael Varane might also sit out as he continues to manage a slight knock, while Nacho is set to feature in central defence alongside Sergio Ramos .

Tributes paid to Alex Ferguson

Football world has been left shell-shocked by the news of the emergency operation and serious illness of Sir Alex Ferguson . It results from the rupture of a cerebral aneurysm - a ballooning in an artery wall, causing it to thin and become weak.

Arsene Wenger receives tributes from Arsenal fans and players at Emirates

Arsene Wenger was given a fitting farewell from fans and players after his last game in charge at the Emirates as Arsenal manager. He went on to say that his final home game would be "dominated by sadness" but thanked fans, players and backroom staff alike.

United States extends steel, aluminum tariff exemptions for EU, Canada, Mexico

Trump tweeted on Tuesday that there was "great potential" for the USA in addressing the trade disparities with other countries. Tuesday's extension of the tariff reprieve "just lengthens the uncertainty ", says Mark Vaughn, the company president.