All 28 EU states support the move but there are questions and doubts on how far they are willing to go as some of these companies are already indirectly doubling down.
The new EU law would protect European companies from US sanctions, but could expose them to European penalties if they choose to cut ties with Iran.
Judith Lee, an international trade lawyer at Gibson Dunn in Washington, DC said:
"It's a significant escalation of tensions between the US and the EU. They're moving really fast... to stake out a position on this."Thomas Gratowski, an Iran expert at the advisory firm Global Counsel said:
"I think [today's move is] definitely a signal to the Iranians that the EU will not give up without a fight with the US."The European Union exported nearly €11 billion ($13 billion) in goods to Iran in 2017, roughly 100 times larger than US exports to the country.
No comments:
Post a Comment