EU takes steps to protect European companies investing in Iran

Burundi referendum could see president in power until 2034                         Read more

The European Commission received the unanimous backing of EU heads of government to proceed with proposals made by commission president Jean-Claude Juncker and High Representative Federica Mogherini, which aim to protect European companies investing in Iran through action on four fronts.

US President Donald Trump announced on May 8 that Washington quit the 2015 Iranian nuclear deal, which curbed Tehran's nuclear activity in exchange for lifting the UN Security Council's sanctions and unilateral restrictions introduced by the US and the EU.

The European Commission has begun work to implement a law which prohibits European companies from adhering to US sanctions against Iran, a move to help keep the Iran nuclear agreement intact and to defend European corporate interests. The "blocking statute" is a 1996 regulation originally created to get around Washington's trade embargo on Cuba, which prohibits EU companies and courts from complying with specific foreign sanction laws, and says no foreign court judgments based on these laws have any effect in the European Union.

French President Emmanuel Macron said Thursday that one reason for the efforts to prop up the Iran deal is "so that our businesses can remain" in Iran.

How have European companies responded?

Antoine Griezmann to Barcelona: Atletico Madrid star coy on transfer speculation
I have no doubt that there are certain things that could make it more likely that he stays. Garcia admitted Payet had been "a bit apprehensive" before the game.

"We must act now" - quoted Juncker DW.

Against withdrawal from the agreement made by the leading European Union countries and Russian Federation. It has also facilitated the ability of the European Investment Bank to support investment in small and medium-sized enterprises in Iran. "We have pledged to take necessary political steps for our companies to stay in Iran".

But companies around the world which invested in Iran after sanctions were lifted are now faced with a hard choice as Washington has threatened to punish firms that violate USA sanctions by dealing with Tehran.

Earlier this month, the United States announced its intention to withdraw from the JCPoA, an agreement which prevents Iran from developing nuclear weapons in exchange for greater participation in the global economy.

But the most accurate observations by Macron was that Trump's Iran decision strengthens both Russian Federation and China in the region, something we pointed out weeks ago, begging the question whose interests is Trump representing.

Related News:

  • PayPal Confirms Its Decision to Buy iZettle, Paying $2.2 Billion

    PayPal Confirms Its Decision to Buy iZettle, Paying $2.2 Billion

    The deal will be an all-cash deal and is expected to be closed by third quarter of the current financial year. Close sources claim that the IPO filing forced Paypal management to speed up the acquisition process.
    Nikolaj Ehlers: Out for Game 3 with undisclosed issue

    Nikolaj Ehlers: Out for Game 3 with undisclosed issue

    The first visit, in early November, saw the team have three full days off before a terrible 5-2 defeat to the Golden Knights. They even incorporated a sword fight between the Golden Knight and the Jet as if things couldn't have gotten any cheesier.
    Deadpool 2 (2018) REVIEW - Ryan Reynolds Was Born For This

    Deadpool 2 (2018) REVIEW - Ryan Reynolds Was Born For This

    Deadpool 2 opens in theaters on Friday. "In our way, we late-night hosts are basically superheroes", Colbert says at one point. Colbert says he already has a guest, so Deadpool takes over his monologue instead.
  • Won't allow anything threatening India's security: North Korea

    Won't allow anything threatening India's security: North Korea

    Secretary of State, Rex Tillerson's request to shut down its diplomatic mission in Pyongyang . New Delhi rejected the then U.S.
    Lucasfilm Would Love to Eventually Make a Lando Spinoff

    Lucasfilm Would Love to Eventually Make a Lando Spinoff

    Thandie Newton! While speaking with Premiere France at the Cannes Film Festival (translation via IndieWire ), Lucasfilm president Kathleen Kennedy teased a film centered on the charming smuggler.

    Horse race bet with William Hill

    How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.
  • Pep Guardiola expresses admiration for Jose Mourinho's playing style

    Pep Guardiola expresses admiration for Jose Mourinho's playing style

    The Daily Express add a move for Willian is edging closer ahead of the FA Cup showdown this Saturday. They've gone on and developed elsewhere, and he's gone on to be a top player.
    He can't leave us - Gabi hopes for Griezmann stay

    He can't leave us - Gabi hopes for Griezmann stay

    Captain Gabi capped off Atletico's victory with a fine finish in the last minute after being set up by Koke. Marseille wasted some opportunities to get back in the game, with Atletico controlling the pace.
    Holy month of Ramadan starts today in Singapore, Middle East countries

    Holy month of Ramadan starts today in Singapore, Middle East countries

    The moon was said to have been sighted in states including Sokoto, Zamfara, Gombe, Bauchi, Rivers, Jigawa, and Niger. Ramadan ends with the feast of Eid al-Fitr, the feast which marks the breaking of the Muslim fast.
  • Ford to resume F-150 production after supply plant fire

    Ford to resume F-150 production after supply plant fire

    The plant, which employs about 8,100 hourly workers in all, has continued to make Ford Expedition and Lincoln Navigator SUVs. Ford also plans to get Super Duty assembly back up and running on Monday in Louisville, Kentucky.
    National Weather Service warns of hail, flood risks Monday in Will County

    National Weather Service warns of hail, flood risks Monday in Will County

    After storms earlier in the week, heavy rain forecasted for the region on Wednesday afternoon poses a risk of isolated flooding. There were also reports of flooding on Becks Run Road in Baldwin and Library Road and Killarney Drive in Castle Shannon.
    Nuclear Deal: US can also withdraw from other agreements

    Nuclear Deal: US can also withdraw from other agreements

    He said that he would work to protect European businesses from being hit by USA measures if they continue to trade with Iran. Several Iranian officials told Reuters that as long as Iran could sell its oil and get its money, the deal remained alive.


Most liked

FG condemns killing of 58 unarmed Palestinian demonstrators
Ghasemi urged the global community to take "immediate action" and declare Israelis as "war criminals in worldwide courts". Embassy's relocation from Tel Aviv , seeing it as a one-sided move that invalidates the U.S.as a Mideast peace broker.

Arab League chief calls for worldwide probe into Israel 'crimes'
Palestinian security sources confirmed the target was a Hamas base, saying there were no reports of injuries. Others also condemned the USA , but none of the members said they would recall their ambassadors.

RED Hydrogen One is coming at Verizon and AT&T
The pricing is not final yet, but RED did take pre-orders earlier this year with two models priced at $1,295 and $1,595. AT&T will also be hosting a " first look event " on June 2-3 as part of the AT&T Shape Event at the Warner Bros.

IPL: Mumbai Indians earn crucial win over Kings XI Punjab
KXIP should fight for a win as their net run-rate is the lowest among all the teams and a loss here could make it worse. Andrew Tye and R Ashwin are the two most important weapons of Punjab in absence of Mujeeb who is injured.

Residents split on Central Intelligence Agency director nomination
Haspel now claims the Nuremberg defense of she was just obeying orders both in supervising torture and destroying the tapes. Dianne Feinstein, D-Calif., said the nomination was not just about Haspel, but the US grappling with its past mistakes.

Wolf Launches New Ad Touting Reforms the Day After Primary
In his campaign, Wagner mostly rode the national wave of conservatism established in 2016 by President Donald Trump . Ellsworth struck the same note a Mango in her speech, saying the party needs to work together to defeat Gov.

What time does Tiger Woods tee off at The Players on Sunday?
The 42-year-old badly miscued an approach to the 14th, which triggered his first bogey since the same hole a day earlier. Tiger Woods has highlighted qualification for August's WGC-Bridgestone Invitational as one of his main goals for 2018.

Triad schools close for teacher rally
Several teachers and Democratic legislators openly scoffed at the website as a reliable source. Posters in hand, the group took their campaign to the streets with a march to Pack Square.

OnePlus 6 India launch in Mumbai at 3 PM today
Plus, there will also be cashback of Rs. 2,000, the device insurance, and up to 370GB complimentary data from Idea Cellular. Talking about the specifications, the OnePlus 6 runs on OxygenOS 5.1 based on Android 8.1 Oreo operating system.

Justify draws 7 post, is heavy favourite to win Preakness
If the horse wins , you collect all three; if second, two ways; and if third, one way, losing the win and place bets. Bravazo made his first start on a wet track when sixth in the Kentucky Derby , beaten by eight lengths by Justify .

Deadly explosion at California building not accident
Mary McWilliams of San Clemente tells the Orange County Register that she saw two women with burns stagger out of the building. The investigation is still in its early stage and authorities had begun processing the inside of the building, he said.

Guatemala inaugurates embassy in Jerusalem after U.S. move
But the embassy move has sent a firm message that the USA believes the controversial holy city rightfully belongs to Israel. Israel captured east Jerusalem in the 1967 Mideast war, but it is not recognised by worldwide community.

Meghan Markle's Sister Has Been Hospitalised Following A Car Crash
Then Samantha Markle appears again on breakfast TV here, where she's ripped to shreds by Piers Morgan , who calls her a "vulture". Meghan Markle's half-sister, Samantha Markle , has been reportedly hospitalized after a run-in with a paparazzo in Florida.

Was Rapper TI Wrongfully Arrested Outside His Atlanta Home?
The Atlanta rapper noticed that the guard was sleeping on the job and attempted to wake him up to let him inside, AJC reported. Sadow says T.I. contacted his wife Tameka "Tiny" Cottle, who confirmed her husband should be allowed inside the community.

Top Trump trade officials still at odds after shouting match in Beijing
Commerce Secretary Ross has said twice in the past week that the two sides had exchanged detailed lists of demands. In retaliation to that China threatened to impose a 25% tariff on $50 billion worth of USA exports.