European companies should still be able to trade with Iran despite new US sanctions, according to minister of state for the Middle East, Alaistair Burt.
Donald Trump tweeted “anyone doing business with Iran will NOT be doing business with the United States”.
The EU has launched a “blocking statute”, designed to allow
companies within the bloc to sue the Trump administration, if they are
adversely affected by US sanctions, and has encouraged member states to
continue trading with Tehran.
This EU legislation should protect businesses in member states who do not wish to break off economic ties with Tehran despite the reinstatement of US sanctions which came into effect on Tuesday, Mr Burt told the BBC.
“If a company fears legal action taken against it and enforcement action taken against it by an entity in response to American sanctions then that company can be protected as far as EU legislation is concerned,” added Mr Burt.
Read more: Donald Trump says rest of world must choose between trade with US or Iran | The Independent
Donald Trump tweeted “anyone doing business with Iran will NOT be doing business with the United States”.
This EU legislation should protect businesses in member states who do not wish to break off economic ties with Tehran despite the reinstatement of US sanctions which came into effect on Tuesday, Mr Burt told the BBC.
“If a company fears legal action taken against it and enforcement action taken against it by an entity in response to American sanctions then that company can be protected as far as EU legislation is concerned,” added Mr Burt.
Read more: Donald Trump says rest of world must choose between trade with US or Iran | The Independent
