US Rejects European Call for Iran Sanctions Waiver
◢ Washington will not budge on its decision to impose fresh sanctions on corporations operating in Iran, despite a European request for exemption, the Financial Times reported Monday. "International companies active in Iran face the threat of US sanctions within weeks after Washington rebuffed a high-level European plea to exempt crucial industries to help keep a landmark nuclear deal with Tehran alive," the paper reported.
Washington will not budge on its decision to impose fresh sanctions on corporations operating in Iran, despite a European request for exemption, the Financial Times reported Monday.
"International companies active in Iran face the threat of US sanctions within weeks after Washington rebuffed a high-level European plea to exempt crucial industries to help keep a landmark nuclear deal with Tehran alive," the paper reported.
France, Britain, Germany and the European Union had on June 6 sent US President Donald Trump's administration a joint official request for their companies to be exempt from the fresh US sanctions on Iran.
The plea had come as European leaders scrambled to save the hard-fought deal signed between Iran and world powers in 2015 under which Tehran agreed to limit its nuclear capacities in exchange for relief from crippling economic sanctions.
Trump announced he was abandoning the deal in May—paving the way for new sanctions on the Islamic republic and punitive measures for those who trade with it.
In a formal letter, US Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin refused to grant the European powers the waiver they had asked for, the Financial Times reported Monday, citing diplomats.
French Economy Minister Bruno Le Maire had already said the United States would not grant Europe its request.
"I wrote in the springtime to Steve Mnuchin... to ask him for an exemption for European companies legally working in Iran," Le Maire said according to an interview with French newspaper Le Figaro that was published Friday.
Failing an outright exemption, Le Maire had also asked for more time before the sanctions regime was due to kick in.
"We have just received the answer, and it's negative," he said.
Washington's refusal came as Trump called Europe a foe in trade and renewed accusations that the EU was taking advantage of the United States.
Analysts say European firms which have rushed to invest in Iran after the lifting of sanctions over the past three years have the most to lose from the renewed sanctions.
Photo Credit: Bruno Le Maire Twitter
France, Germany, Britain Formally Demand Exemptions from US Iran Sanctions
◢ France, Britain, Germany and the EU on Wednesday sent the United States a joint official request for their companies to be exempt from punitive measures resulting from fresh US sanctions on Iran. French Economy Minister Bruno Le Maire said the three countries and the EU were asking the US "to exempt European businesses doing legitimate trade in Iran from all extraterritorial American sanctions.”
France, Britain, Germany and the EU on Wednesday sent the United States a joint official request for their companies to be exempt from punitive measures resulting from fresh US sanctions on Iran.
"As allies, we expect that the United States will refrain from taking action to harm Europe's security interests," said the letter to US Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo.
French Economy Minister Bruno Le Maire said the three countries and the EU were asking the US "to exempt European businesses doing legitimate trade in Iran from all extraterritorial American sanctions."
"Those businesses must be able to pursue their activities," he wrote on Twitter.
The plea comes as European leaders scramble to save the hard-fought deal signed between Iran and world powers in 2015 under which Tehran agreed to limits on its nuclear capacities in exchange for relief from crippling economic sanctions.
US President Donald Trump announced he was abandoning the deal last month—which will mean new sanctions on the Islamic republic and punitive measures
for those who trade with it.
Analysts say European firms which have rushed to invest in Iran after the lifting of sanctions over the past three years have the most to lose from the renewed sanctions.
Several major companies including France's Total and the Netherlands' Maersk have already said it will be impossible to stay in Iran once the sanctions are fully reimposed over the next six months, unless they receive explicit exemptions from Washington.
French automaker PSA said Monday that it would pull out of two joint ventures to sell its cars in Iran to avoid the risk of punishing fines.
Photo Credit: Wikimedia
