EU law will protect EU companies operating in Iran from U.S. sanctions

Officials have ascribed the re-clamping of U.S. on Iran as being an unlawful reach beyond U.S. borders.

On Tuesday, Alistair Burt, Britain’s minister of state for the Middle East, told BBC radio that it is possible to protect European companies from the ambit of renewed U.S. sanctions on Iran.

In recent months, U.S. President Donald Trump has withdrawn the United States from a landmark international agreement, created by his predecessor Barack Obama, that was designed to deny Tehran the ability to build nuclear weapons.

With U.S. sanctions being snapbacked on Iran on Tuesday, a new EU law aimed at shielding European companies is set to take effect.

“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,” said Alistair Burt.

“It is a commercial decision for companies whether they continue to work in Iran.”

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Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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