Friday, May 18, 2018

EU to Devise Mechanisms to Circumvent US Sanctions on Iran: Jean-Claude Juncker

EU to Devise Mechanisms to Circumvent US Sanctions on Iran
President of the European Commission Jean-Claude Juncker underlined that the EU countries are looking for ways to avoid US sanction on Iran.

"We are preparing legislation in order not to recognize US secondary sanctions imposed against European companies for cooperating with Iran," Juncker said.

The EC president underlined that for this purpose the European Union will enact a law to ban its companies from US sanctions imposed on Iran.

"Given the above issue, the legislation will not recognize any court order to impose a fine that the White House may impose on the European companies to do business in the Islamic Republic of Iran," he said, adding, "As the European Commission, we are duty bound to protect our companies in the face of sanctions imposed by US on Iran."

Juncker said that the European Commission has decided to allow European Investment Bank to facilitate investment of European companies in Iran.

EC will maintain its cooperation with Iran while the US Treasury Department has recently announced to European companies that they have been given a six-month deadline to end their investment in Iran.


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