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Europe to Defy US Pressures, Defend Its Companies in Iran: French President

Thursday 17 May 2018
Europe to Defy US Pressures, Defend Its Companies in Iran: French President

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EU to Ditch Dollar for Iran Oil Payments amid US Sanction Threats

Alwaght- French President vowed European states will defy the US threats of sanction and will preserve the nuclear deal with Iran and defend their corporations against US sanctions for doing business in the Islamic Republic, French President Emmanuel Macron said.

“We’ve had a vibrant discussion on Iran. The 2015 nuclear agreement is a crucial element of peace and security in the region. We have opted to support it whatever the US decides to do,” said the French president on arrival at the Sofia summit. “We have pledged to take necessary political steps for our companies to stay in Iran.”

US President Donald Trump, Ignoring pleas by European allies, announced last that the US was walking away from Iran deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), which he described a horrible deal.

Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against it.

Trump also said he would reinstate US nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic.

The US Treasury Department said it would give European businesses six months to wind up their investments in the country or risk US sanctions – forbidding them from signing new contracts.

Iran has said it would remain in the JCPOA for now, pending negotiations with the other signatories, China, France, Russia, UK, Germany, in the coming weeks before making a final decision on its future role in the agreement.

Earlier this week, EU foreign policy chief Federica Mogherini announced plans to work out practical solutions in response to the US move in the near future. She highlighted the importance of deepening economic relations with Iran, including in the area of energy supplies.

Despite pressure from Washington, Macron insisted European countries are committed to the deal with Iran.

“We have decided to support the Iran deal despite the US actions. We are calling all the parties for negotiations on an extended version of the agreement. We need to add the clauses on nuclear program after 2025, agreement on ballistic missiles and Iran’s conduct in the region,” he said.

 

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Iran Deal Europe Macron US

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