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EU push to activate law exempting EU firms from U.S. sanctions on Iran

2018-05-18 2 Dailymotion

The European Union is taking a united stand against President Trump's decision to pull out of the 2015 Iran nuclear deal.<br /> On Friday, the European Commission is slated to kick off the process of activating a law that bans European companies from complying with U.S. sanctions against Iran. <br />The move was announced by Commission President Jean-Claude Juncker after EU leaders agreed on Wednesday to activate the so-called blocking statute - a 1996 regulation that prohibits EU companies and courts from complying with foreign sanctions laws. <br />It has to be updated to include sanctions announced by President Trump. <br />The process is expected to take about two months, depending on how fast the European parliament and Council vote on the update. <br />The EU has continued to criticize Trump's decision to withdraw from the Iran deal, saying it was the best way, at the moment, from stopping Tehran acquiring nuclear weapons. <br />

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