Thursday, 24 May, 2018


US Iran sanctions to target auto, aircraft sectors first: French govt source

Is Macron a good leader? France confident of progress towards euro zone budget with Germany
Bennie Garza | 17 May, 2018, 16:35

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

French President Emmanuel Macron said on Thursday that the European Union must protect EU companies doing business with Iran from U.S. sanctions being re-imposed over Tehran's nuclear program.

The EU wants to salvage the Iran nuclear deal, which offers the Islamic Republic relief from economic sanctions in exchange for curbs on its nuclear program and Europe sees as an important element of global security. "They should continue to have this freedom", he added".

European leaders have arrived at a summit in Sofia in a bid to save the Iran nuclear deal in the wake of Donald Trump's decision to re-impose sanctions on the Islamic Republic.

On Wednesday, French energy group Total said it would pull out of a multibillion-dollar gas project in Iran if it couldn't secure a waiver from the USA sanctions.

Attributions of so-called "General Licence H" allowing subsidiaries of USA companies to deal with Iran will be revoked, the source said.

The summit also comes at a time Facebook is under pressure in the United States and Europe over data privacy after it emerged tens of millions of users' personal data was harvested from the site by political consultancy Cambridge Analytica.

Shipping group A.P. Moller-Maersk on Thursday joined a growing list of companies preparing to call a halt to doing business with Iran, casting doubts on whether European leaders can keep alive a nuclear deal with Tehran.

AFP reported that France's foreign minister condemned the United States for reimposing sanctions against foreign companies trading with Iran, labelling the move "unacceptable" in comments that expose the deepening rift between Washington and its European allies on the issue.

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