Donald Trump slaps down EU bid to protect firms from sanctions against Iran – By Aubrey Allegretti (news.sky.com) / Aug 7 2018
The US president says he is only asking for “world peace”, as a German manufacturer ceases business activities in Iran.
Image: Donald Trump said the sanctions had ‘officially been cast’ on Tuesday
Donald Trump has slapped down a bid by the EU to shield European businesses from the impact of new US sanctions against Iran.
The US president wrote in a tweet on Tuesday that new measures taken against the Middle Eastern country have “officially been cast”.
He added: “Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!”
The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!
— Donald J. Trump (@realDonaldTrump) August 7, 2018
It comes hours after British Foreign Office minister Alistair Burt sought to calm British businesses by assuring them a “blocking statute” passed by the EU would protect them from the sanctions.
He told BBC radio: “If a company fears legal action taken against it and enforcement action taken against it by an entity in response to American sanctions then that company can be protected as far as EU legislation is concerned.
“It is a commercial decision for companies whether they continue to work in Iran.”
Image: Foreign Office minister Alistair Burt tried to calm British business
Measures hitting key metals, such as gold, and the automotive industry came back into force on Tuesday.
German automaker Daimler announced soon after it was halting its business activities in Iran.
The sanctions had been eased for several years under the terms of a 2015 nuclear deal, which Mr Trump announced he would pull out of in May 2018.
More measures targeting Iran’s oil sector and central bank are set to be reimposed in November.
Image: President Rouhani has called the move ‘psychological warfare’
Iranian president Hassan Rouhani has hit back at the move, calling it “psychological warfare”.
Iran’s economy has already suffered damages, as Mr Trump’s ramping up of rhetoric over several weeks spooked investors, triggering a run on the local currency, the rial.
Ali Paphi, a construction worker, said: “I feel like my life is being destroyed. The economic situation right now means that the working class must die.
“Sanctions are already badly affecting people’s lives. I can’t afford to buy food, pay the rent… No one cares about workers.”
The EU said it needed to enforce a law counter-acting the sanctions because of their “unlawful” reach beyond US borders.
Other countries have also asked officials in Brussels for details on the blocking regulations, as they explore ways to bypass the sanctions.
“There is a clear interest around the world,” one staffer said.
