European Union moves to shield European Union firms from U.S. sanctions against Iran

Europe to exempt its firms from US sanctions on Iran

The European Commission said Friday it is taking steps to shield EU companies doing business in Iran after the US government abandoned an global nuclear deal and warned that it could impose sanctions on companies trading with Tehran.

As the world seeks to come to grips with President Trump's withdrawal from the JCPOA, it appears that the European Union will play one of its strongest cards by invoking its "Blocking Regulation", which would prohibit European companies from complying with US sanctions against Iran.

This mechanism, dating back to 1996 and never used, adopted at the time to circumvent the embargo on Cuba, allows European companies and courts not to submit to regulations relating to sanctions taken by third countries.

To view the full article, register now.

DR Congo Ebola outbreak: World Health Organization holds crisis talk as cases spread
Until now, the outbreak was confined to remote areas, where Ebola , which is spread by bodily fluids, travels more slowly. The other death was a suspected case in Wangata, a suburb of Mbandaka on the Congo River, the ministry said.

A blocking statute is a law enacted in a local jurisdiction that attempts to hinder the application of a law made by a foreign jurisdiction and is widely seen as an attempt to put pressure on Washington not to punish European firms that continue doing business with Iran.

The European Parliament and the Council of the EU will decide to approve or reject the proposals within two months, ahead of the first batch of US sanctions taking effect on August 6.

The European Commissioner for Energy, Miguel Arias Canete, is expected on Friday in Tehran, where he will meet for three days with Iranian officials.

European businesses will be sheltered from the fallout of Donald Trump's decision to pull the United States out of the Iran nuclear deal under a previously unused EU trade protection law.

Ronda Rousey eager for WWE title, baby 'someday soon'
Rousey reportedly made her house show debut at a RAW-branded live in Geneva, Swtizerland in a six-Woman Tag Team Match. The former UFC champ tagged with Natalya and Ember Moon against James, Ruby Riott , and Liv Morgan .

European Union leaders reaffirmed their commitment to the nuclear deal at a summit in the Bulgarian capital Sofia this week, even as multinationals such as the French energy giant Total and Danish shipping company Maersk Line signalled their intention to pull out of Iran.

The talks in Tehran come a day after the European Commission president Jean-Claude Juncker deepened Europe's war of words with the U.S. over Donald Trump's decision to withdraw from the Iran nuclear deal and proposed tariffs on European goods. The measure potentially could put European companies in a bind, as they could be forced to choose between compliance with the EU measure and USA secondary sanctions against Iran.

The European Commission is also encouraging member-states to "explore the possibility of one-off bank transfers to the Central Bank of Iran". The White House said that the Joint Comprehensive Plan of Action (JCPOA) provides Iran with opportunities for creating a nuclear bomb by evading all current restrictions.

European Council President Donald Tusk said EU leaders had agreed to give the Commission the green light to act whenever European interests were affected. Trump vowed to reinstate the previous sanctions and introduce new restrictions should Tehran carry out its nuclear ambitions.

Ibrahim Anwar declares 'new dawn for Malaysia' after release
He said it was Mahathir's prerogative to form the cabinet, but noted he had given assurances that he will consult party leaders. Separately, Malaysia and six countries are investigating defeated prime minster Najim over corruption at the state fund 1MDB.

In the same year, European Union investment in Iran was valued at €20bn.

Related news:

Hot News

isis-killer-beheading-video-story-top Supreme Court orders floor test in Karnataka Assembly tomorrow at 4 PM
May 18, 2018 - 16:19
Targeting the BJP, he said, "A murder accused is the president of a national party, which has not been seen in the last 70 years". Yeddyurappa leaves to meet the state governor to stake claim to form the government , in Bengaluru , India, May 16, 2018.

isis-killer-beheading-video-story-top Sensex falls over 150 points on rising oil price, rupee
May 18, 2018 - 16:13
Similarly, the Sensex fell 495.61 points or 1.37 per cent from its intra-day high to close the session at 35,543.94. The BSE Sensex fell over 150 points to trade below the 35,000 mark while the Nifty50 index shed over 50 points.

isis-killer-beheading-video-story-top Leo Varadkar warns Theresa May that they need progress in Brexit talks
May 18, 2018 - 16:10
The move is created to placate Dublin and Brussels, which have warned they will block a trade deal unless Britain guarantees there will be no "hard border" in Ireland .

isis-killer-beheading-video-story-top Eagles to get Buhari's blessing for Russia May 29
May 18, 2018 - 16:03
But the coach has to do whatever he thinks it's the best", said the ex-Flying Eagles coach. It included Goalkeepers - Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi and Dele Ajiboye.

isis-killer-beheading-video-story-top Trump lawyer sought $1m from Qatar in late 2016
May 18, 2018 - 15:55
Mr Cohen has acknowledged paying Ms Daniels, whose real name is Stephanie Clifford. Cohen facilitated a $130,000 payment to porn star Stormy Daniels .

isis-killer-beheading-video-story-top Everton boss Sam Allardyce 'to be sacked in next 48 hours'
May 18, 2018 - 15:39
Silva was sacked in December by the Hornets and in a statement released by the club, there was a swipe at the Blues. Confident? I can't quite say confident after all the rumours I'm reading in the paper.

isis-killer-beheading-video-story-top SPOILERS** WWE Monday Night RAW 5.14.18 From London
May 17, 2018 - 03:16
Not exactly happy, Reigns sought out Mahal and brawled backstage with him, with the Modern Day Maharaja barely escaping. Non-Title: Matt Hardy & Bray Wyatt def. - Segment 4: Roman Reigns and Jinder Mahal get into another backstage brawl.

isis-killer-beheading-video-story-top Iran's Parliament Speaker Congratulates Muslim Countries on Ramadan
May 17, 2018 - 03:13
Rabat- The Islamic holy month of Ramadan will start Thursday May 17, declared the French Council of the Muslim Faith (CFCM ). The fast is meant to help people learn about self-discipline and restraint while also empathising with those who have less.

isis-killer-beheading-video-story-top England introduced the lineup for the 2018 world Cup
May 17, 2018 - 03:08
At 32 and with 58 caps, Gary Cahill is the most experienced member of a squad with an average age of 25.5 and 20 caps on average. Chelsea's young midfielder Ruben Loftus-Cheek has earned selection after an impressive season on loan at Crystal Palace.

isis-killer-beheading-video-story-top Judge rejects Manafort's attempt to dismiss Mueller indictment
May 16, 2018 - 15:10
Manafort had argued that Mueller had exceeded his authority because the case was unrelated to Russian election interference. So the charges in Jackson's courtroom will proceed against Manafort, and they will be prosecuted by Robert Mueller .

isis-killer-beheading-video-story-top Taliban attacks Farah city in west Afghanistan, kills dozens
May 16, 2018 - 15:07
On Tuesday, may 15, the militant groups of Taliban in the city of Farah in Western Afghanistan has committed another offense. Earlier, the Taliban insurgents have attacked the capital of western Farah province, overrunning the 3rd police district.

isis-killer-beheading-video-story-top Meghan Markle's father suffers heart attack and won't attend wedding
May 16, 2018 - 15:03
Markle even could go for a different generation in the royal family and ask Prince Philip to do the honours. Markle in this hard situation". "Of course I'd walk her down the aisle", he told the outlet.

isis-killer-beheading-video-story-top Ex-Pakistani PM Zeroes in on Pakistan's Civil-Military Divide in Interview
May 16, 2018 - 15:02
Sharif, asked about his ouster, brought up issues of security and foreign policy - which the military controls. Ten gunmen spent three days spraying bullets and throwing grenades around landmarks.

isis-killer-beheading-video-story-top Gina Haspel criticizes "enhanced interrogation" in letter to Mark Warner
May 15, 2018 - 22:40
Last week, Haspel said she would not permit the spy agency to restart any kind of harsh detention and interrogation programmes. None of them objected to what was being done in the name of "national security", nor did any of them inform the public.

isis-killer-beheading-video-story-top Four Children Orphaned After Surabaya and Sidoarjo Bombings
May 15, 2018 - 22:39
The family fanned out on Sunday with suicide bombs attached to themselves and their children, attacking three churches. Based on their remains, Karnavian said the mother and daughters were all wearing explosives around their waists.