US President Donald Trump’s decision to exit the Iran nuclear deal and reinstate sanctions could cost some of Europe’s biggest companies billions.
The US Treasury Department has promised “wind-down” periods of 90 to 180 days to let firms extricate themselves from agreements with Iran and avoid US sanctions. That will do little to assuage the European companies that have billions on the line in recently cut contracts with the country of 80 million people, Qz.com reported.
May 09, 2018 18:27
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US Nuclear Deal Pullout Bitter Blow to European Businesses
Any European companies with a US arm that deals with Iran would now be violating US law … Those not active in the US could be hit with a “with-us or against-us sanction”, whereby companies trading with Iran cannot trade with America
The only way around the sanctions would be for the Trump administration to grant European companies waivers, or European countries to adopt a “blocking regulation”
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