Published On: Mon, Jul 16th, 2018

EU’s request to exempt its companies doing business in Iran from US sanction rebuffed

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Putting the European Union companies which are doing business in Iran in the unfortunate state of serious trouble, the United States has strongly rejected the EU’s request to exempt its companies doing business in the Arab nation from the sanction imposed by Washington on Tehran.

Actually, immediately after the 2015 International agreement on Iran’s nuclear program, several EU countries including Germany, the UK and France rapidly increased their business with the Arab nation.

The issue started after the United States imposed a strict sanction against Iran in last May after withdrawing from the deal. Certain provisions in the sanction document made it difficult for the EU companies to do business in Iran. There were provisions in the sanction document to ban those EU companies doing business in Iran from doing business in the US.

Actually, most of the European Union countries, such as the UK, France and Germany, still stick to the nuclear deal reached with Iran in the year 2015.

But, it is the stricter provisions in the US sanctions that make things difficult for the European Union companies doing business in Iran.

The US has recently claimed that the US sanction on Iran was intended to contain the dangerous engagements of the Arab nation. There are indications in the statement released by the US officials that if any EU company benefits the US’ internal security, it might be exempted from the sanction.

 

Vignesh. S. G

Photo Courtesy: Google/ images are subject to copyright 

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EU’s request to exempt its companies doing business in Iran from US sanction rebuffed