Economy, Domestic Economy

Germany Dithers on Shielding Firms From Fresh US Sanctions

German Foreign Minister Heiko MaasGerman Foreign Minister Heiko Maas

Germany wants to help its companies continue doing business in Iran after the US decision to reimpose sanctions against Tehran, but it could be difficult to shield them from any fallout, Foreign Minister Heiko Maas said on Sunday.

US President Donald Trump’s decision on Tuesday to unilaterally renege on the 2015 nuclear accord with Iran and reimpose sanctions against Tehran came with the threat of penalties against any foreign firms involved in business there, Reuters reported.

Germany, along with France and Britain, has said it remains committed to the nuclear deal. The foreign ministers of the three European powers will meet their Iranian counterpart in Brussels, Belgium, on Tuesday to discuss a way forward.

“I do not see a simple solution to shield companies from all risks of American sanctions,” Maas told Bild am Sonntag newspaper.

Maas said talks with the Europeans, Iran and the other signatories to the agreement are, therefore, also about how it can be possible to continue trade with Iran.

“After all, Iran is ready to talk. It’s clear that there should also be economic incentives; that will not be easy after the US decision,” he added.


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