US sanctions against Iran that have an exterritorial effect violate international law and Germany expects Washington to consider European interests when coming up with such sanctions, spokespeople for the German government said on Wednesday.
The European Union vowed on Monday to counter US President Donald Trump’s renewal of sanctions on Iran. Washington’s so-called “snapback” sanctions reach beyond US borders, Reuters reported.
Around 120 German companies are currently running operations with their own staff in Iran and some 10,000 German businesses trade with the country. German exports to Iran were worth some €3 billion ($3.57 billion) last year, DW reported on Monday.
The German government said on Monday that it would continue to offer export and investment guarantees for companies doing business with Iran. Officials also noted that they were holding talks with their US counterparts on exemptions for German companies from Iran sanctions.
"German industry welcomes the clear willingness of the EU and the German government to oppose the extraterritorial nature of US sanctions," Dieter Kempf, the president of the Federation of German Industries (BDI), was quoted by German media as saying on Sunday.
Italian Reaction
Italy's premier says he recently asked Trump to share intelligence about Iran's nuclear program that has triggered fresh US sanctions.
Premier Giuseppe Conte told reporters in Rome Wednesday that Italy would coordinate any initiative with European Union partners in the aftermath of re-imposed US sanctions against Iran, AP reported.
He said Italy will be "hyper-sensitive" to repercussions on Italian businesses and noted that there are already signs of "negative impact on our country."
Italy traditionally has been a major trading partner with Iran. But Italian energy giant ENI earlier this year closed down its business in Iran, and Fiat Chrysler Automobiles long ago reduced exposure there.
Conte said "we are willing to evaluate more rigorous accords" dealing with Iran.
He met with Trump in Washington last month.
