Europe Under Fire from US Secondary Sanctions

... withdrawal from the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear programme. Washington has unilaterally resumed large-scale financial and sectoral sanctions against Iran. As a result, a large number of companies operating on the Iranian market, including European firms, are threatened with secondary sanctions and subsequent fines. The EU has reintroduced the so-called Blocking Statute (1996) supposed to protect European companies from secondary sanctions. But numerous EU companies have already left Iran. We are witnessing a situation where ...