Politics
22:54, 17-May-2018
EU to start Iran sanctions blocking law process on Friday
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The European Commission will launch on Friday the process of activating a law that bans European companies from complying with US sanctions against Iran and does not recognize any court rulings that enforce American penalties.
"As the European Commission, we have the duty to protect European companies. We now need to act and this is why we are launching the process to activate the 'blocking statute' from 1996. We will do that tomorrow morning at 1030," European Commission President Jean-Claude Juncker said.
European Commission President Jean-Claude Juncker addresses a news conference at the EU-Western Balkans Summit in Sofia, Bulgaria, May 17, 2018. /VCG Photo
European Commission President Jean-Claude Juncker addresses a news conference at the EU-Western Balkans Summit in Sofia, Bulgaria, May 17, 2018. /VCG Photo
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"We also decided to allow the European Investment Bank to facilitate European companies' investment in Iran. The Commission itself will maintain its cooperation will Iran," Juncker told a news conference after a meeting of EU leaders.
The EU leaders Thursday gathered in the Bulgarian capital Sofia to attend the EU-Western Balkans summit discussing their strained ties with US President Donald Trump, including on trade, saving the Iran nuclear deal and bringing Western Balkans closer to the bloc.
Source(s): Reuters