Financial Times: Europe to Seek Exemptions From US Sanctions on Iran

European leaders met with Donald Trump, detailing their opposition to US exit from the Iran nuclear deal, contending that the agreement was working and that adjustments could be made. Regardless, Trump exited the deal and promised sanctions on countries that do business with Iran. Europe could stand to lose the most from the new sanctions. “EU leaders said they would press Washington to exempt European companies from fresh US sanctions as transatlantic tensions spiked,” according to a Financial Times report. “The EU is committed to salvaging the 2015 deal intended to curb Iran’s nuclear ambitions and Tehran has said it will stick to the agreement. But to save the deal EU capitals have to convince European companies including Total, Airbus and Sanofi to keep investing and signing deals with Tehran despite the threat of extraterritorial US fines.” Europeans warn that US withdrawal could undermine trust in international agreements and the United States as a trade partner. Resentment could linger about irrational refusal to cooperate, and allies could balk the next time the United States seeks European support. – YaleGlobal