Europe requests exemptions from US Iran sanctions

Stefano Ciccarelli

In pulling out of the Iran nuclear deal, the US has the potential to reinstate trade sanctions on the country. For companies conducting business there, any breach of these sanctions could result in punitive measures from Washington. It seems in Europe there is a reluctance to be stung by those measures – or give up interests in Iran. Thus, businesses in France, Germany and the UK appear to have successfully lobbied their governments to seek a reprieve. Last week, foreign and finance ministers from those countries plus the wider EU wrote to US treasury secretary Steven Mnuchin and secretary of state Mike Pompeo requesting a get-out. Of particular interest are aerospace, pharmaceuticals and infrastructure. Aerotime reports.