EU shields firms from US sanctions law

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AFP Iranian tanker, Kharg Island, 12 Mar 17AFP

Kharg Island terminal: Energy exports are vital for the Iranian economy

European foreign affairs chiefs have pledged to protect firms against the impact of US sanctions for doing business with Iran.

An EU “blocking statute” will take effect on Tuesday to nullify US legal action against European firms in connection with Iran.

Some US sanctions on Iran are expected to be reimposed later on Monday.

In May, President Donald Trump withdrew the US from an international 2015 deal to control Iran’s nuclear ambitions.

Under that deal, nuclear-related Western sanctions on Iran were lifted.

Mr Trump argues that the deal will not prevent Iran from finding ways…



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