29 Mar 2024
Tuesday 19 June 2018 - 12:36
Story Code : 309332

Most french companies 'won't be able to stay' in Iran - Minister



Sputnik - France's Finance Minister Bruno Le Maire has stated that the lion's share of French firms "will not be able to stay" in Iran in the face of potential secondary sanctions by the US.




The Finance Minister told RMC onTuesday that "most" French companies "will not be able" stay inIran, afterthe United States decided toreinstate sanctions againstTehran inMay.
According toLe Maire, these businesses "will not be able tostay because they need tobe paid forthe products they deliver and manufacture inIran and they cannot be paid because there are no European sovereign and independent financial institutions."


Since May 8 when US President Donald Trump announced his decision towithdraw fromthe Iran nuclear deal and a snap-back ofsanctions againstTehran, the European Union has been struggling toavoid the secondary sanctions that Washington might impose onEuropean companies operating inIran.

The 28-member bloc has already taken counter-measures, having introduced a 1996 Blocking Statute, allowing it tocontinue totrade withTehran and shield its firms fromUS sanctions. Iran, inturn, has suggested setting upa bank tosettle EU transactions ineuros toavoid US restrictions inthe wake ofWashington's exit fromthe nuclear deal.

https://theiranproject.com/vdcjthet8uqeytz.92fu.html
Your Name
Your Email Address