... threatened by crippling fines imposed by US regulators.
These fears were well founded. According to the Russian International Affairs Council (RIAC), the US Treasury imposed fines on 43 EU companies over the past 10 years for working in various jurisdictions under the sanctions (deals with Iran are the most common occurrence). This is relatively few compared to 215 companies that were fined by the US Treasury, of which 142 were US-based. However, of the total amount of $5.657 billion worth of fines, the Europeans paid $4.677 billion, or ...
... movement of certain Iranian nationals and politicians outside of Iran.
The sanctions were toughened both through Congress and through the U.S. Administration. In 2010, Congress tightened the sanctions considerably when it adopted the Comprehensive Iran Sanctions, Accountability, and Divestment Act (PL 111-195 — CISADA) and introduced amendments to the 1996 Iran Sanctions Act. The new act brought up the entire history of Iran’s “transgressions”: the nuclear developments; the missile programme; the building ...
... first place, since the vast majority of transactions in the insurance market were handled by that country.
Photo: AFP 2013/ Ilyas Omarov
During six-party talks Iran was offered to decrease
the enrichment of uranium to 20% in exchange for
lifting all UN sanctions, but Iran refused.
In addition, the sanctions policy pursued by Brussels against Iran caused serious discontent in the business circles of Germany. They could not receive payments from Iranian counterparties for services rendered. Thus, according to the ...
