European Union unveils 'statute' to protect Iran trade against USA sanctions

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European Union Commission President Jean-Claude Juncker announced Thursday that the bloc plans to reactivate a law that would seek to block European companies from complying with any sanctions the U.S. would reintroduce against Iran.

The EU leaders discussed Iran at a meeting in Bulgaria, European Commission chief Jean-Claude Juncker said, adding the bloc would start measures on Friday to ease the effect of the USA sanctions on European companies.

The EU decision will allow the European companies to ignore the U.S. sanctions against Tehran.

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.

Europe's hardline position will infuriate Trump, as Brussels effectively nullifying U.S. sanctions will prompt a violent outburst from Trump, who needs Europe on his side for United States sanctions of Iran to have any chance of succeeding.

The EU executive's announcement is in line with the decision made by heads of state and government at their informal summit in Bulgaria on Thursday in response to the reinstatement of US sanctions related to the withdrawal of the US July 2015 on the Iranian nuclear program, announced on May 8 by Donald Trump.

"My priority is not commercial, it is geopolitical and strategic".

What did President Trump decide to do?

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"We're not going to force French businesses to stay in Iran".

What is the Iran nuclear deal? .

"International companies with interests in many countries make their own choices according to their own interests".

"In Sofia, we saw a show of European unity. But the American sanctions will not be without effect, so we have the duty... to do what we can to protect our European businesses, especially SMEs".

As such, France and the European Union have no intention of imposing sanctions or counter-sanctions on US companies over the U.S.'s re-imposition of sanctions on Iran, Macron said. By re-introducing it now, the European Union is seeking to ban firms respecting USA sanctions and make related U.S. court rulings non-effective in the EU.

Mr. Trump's Iran decision is part of a broader pattern of actions that have deeply frustrated America's European allies.

The Iranian is an online magazine for those who care deeply about all things Iranian: identity, culture, music, history, politics, literature, and one another.

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