Worldwide

Total pulls out of Iran due to sanctions

Total pulls out of Iran due to sanctions”

But with the U.S. saying it had pulled out of the deal because of broader worries about Tehran's actions, the leaders said they would also "address concerns about Iran's role in the region, Iran's ballistic missile programme and what happens after 2025".

"I don't think Donald Trump wants war", the French President said.

Signed in 2015 between Iran and a group of world powers - China, the US, Russia, France, the UK, Germany and the European Union - the deal ended decades of economic sanctions and led to heavy investment flowing into Iran.

The EU is to revive a "blocking statute" used in the 1990s to protect businesses working in Cuba to shield European companies that wish to continue doing business with Iran from U.S. sanctions.

Trump's moving of the U.S. Embassy in Israel to Jerusalem this week has also upset many in the European Union, though the European Union has failed to condemn the move squarely over opposition from the Czech Republic and Hungary that hold a strongly pro-Israeli stance.

This would be a massive blow to the Iranian Regime, who have heralded the 2017 Total deal as a sign that the accord was working in their favour.

Trump might have made his conservative constituencies back home pleased as a leader who keeps his promises (both the decisions on the Iran deal and Jerusalem were something Trump pledged during the 2016 presidential campaign) but on the ground, these moves have ended the US's reputation as a trusted intermediary and made a global disaster look imminent. It is precisely because of its economic hegemony that the United States can arbitrarily impose unilateral sanctions on Iran.

Jean Claude Juncker, president of the European Commission, said on Thursday the commission has a "duty to protect European companies" from American sanctions.

"We will begin the "blocking statute" process.We must do it and we will do it tomorrow morning at 10:30", Juncker said at the summit in Sofia.

For this objective, European Union will enact a law to ban its companies from United States sanctions imposed on Iran, Juncker maintained.

EU discussions on how to keep the deal - and economic relations with Iran - alive, have focused on: keeping Iran's oil and gas industry viable; the creation of special objective vehicles to allow for transactions between the regions; developing more contracts between European companies and their Iranian counterparts; and how to protect European firms that continue to work with Iran.

Tusk made his remarks about the US president's reliability before he chaired a meeting in Bulgaria of the 28 leaders whose countries make up the world's biggest trading bloc.

The "blocking statute" is a 1996 regulation originally created to get around Washington's trade embargo on Cuba. "The President of the French Republic in not the CEO of Total".

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

Lithuanian President Dalia Grybauskaite, meanwhile, acknowledged that the pact with Iran, following the USA decision to unilaterally abandon it, was "damaged". They should continue to have this freedom.



Like this

loading...
loading...

Latest


18 May 2018
Guardiola extends City stay after record-breaking season
The 26-year-old German midfielder was one of Brighton & Hove Albion's low-profile summer recruit from FC Ingolstadt 04. Guardiola, 47, arrived in England last season and led City to third, 15 points off champions Chelsea .

18 May 2018
Kim Kardashian West is in hot water for her latest sponsored post
It prompted them to take a jab at Kim for invading her kids' internet privacy. One other girl wrote , "Wow I've misplaced all respect for Kim Kardashian ".

18 May 2018
Lawsuits threaten to derail Musk's Los Angeles tunnel
The Boring Company has already built a shorter tunnel in nearby Hawthorne, where SpaceX's headquarters is located. Musk's project has picked up a key partner in the LA Metro, the city's public transportation provider.

18 May 2018
Ryan Reynolds's Clue Movie Will 'Potentially' Be R-Rated
Luckily, his tight relationship with his siblings has helped him to see the amusing side in the darkest of situations. As far as being a producer, an actor, and a writer, they all sort of blend into one.

18 May 2018
Share Feed Posts to Stories
This is another effort by Instagram to increase the user's activity on Instagram by sharing more contents to more audience. That would give Stories more prominence on the network - though not everyone is thrilled with their takeover .

18 May 2018
Mohamed Salah: Liverpool Forward's Boots Become Museum Exhibit
The Egypt global has impressed this season, winning the Premier League golden boot with a record 32 goals. This acquisition brings the British Museum's world famous Egyptian collection right up to date.

18 May 2018
Russia, Syria can start work to rebuild Syrian economy, says Putin
Moscow launched an air campaign on behalf of Assad's forces in 2015 that tipped the conflict in his favour. It said the two also discussed economic cooperation and growing investments by Russian companies in Syria.

18 May 2018
Grey's Anatomy: Here's how April and Arizona left
Teddy seemed super interested, and that's probably because she wants to be close to Owen, who may or may not be her baby daddy. Additionally, another reconciliation was hinted at when Arizona admitted to smiling whenever she reads a text from Callie.

18 May 2018
NBA Draft Lottery 2018: Winners and losers
This means he got an exceptional education in the game of basketball, may entice Phoenix to go with the more polished option. Jaren Jackson (6-11, 242 lbs), is a freshman out of Michigan State who is described as a terror on the defensive side.

08 May 2018
What are the Most Attractive Gambling Destinations Across The Globe?
New research carried out by CasinoBiggestBonus.com have discovered what are the most popular destination between online gamblers. The team have quizzed 2,432 Britons that gamble online asking what is their preferred gambling destinations.