Mogherini, Zarif and Araghchi take part in a JCPOA ministerial meeting on the Iran nuclear deal in Vienna, Austria. AFP / APA / HANS PUNZ
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
At a meeting in Washington after Donald Trump pulled out of the Iran nuclear deal in May, a senior U.S. official told European diplomats that their efforts to save the deal by protecting EU investment in the Islamic republic were pointless. "You can't," the official said, and with just six weeks until the next wave of U.S. sanctions hits Iran on Nov. 4, European diplomats acknowledge he was right. The European Union has failed to design a workable legal shield for its companies in Iran to beat the global reach of the U.S. financial system and defy President Trump, the diplomats say. EU-Iranian trade this year is running at 2 billion euros ($2.35 billion) a month, but this is expected to fall as big European companies pull out and Iranian oil exports are choked off by U.S. sanctions.The EU has tried to neutralize the U.S. penalties with measures such as euro-denominated finance lines and a law that could make it an offense for EU citizens to comply with U.S. sanctions.The Europeans are beginning to grudgingly accept their failure to shield European investment in Iran from U.S. sanctions, the American envoys in Europe say.
FOLLOW THIS ARTICLE