European companies 'protected' from USA sanctions following Iran nuclear row

Oil Tanker in Iran

Oil Tanker in Iran

President Trump withdrew the United States from the Iran nuclear deal earlier this year, and began reimposing sanctions on Iran Monday.

"We are determined to protect European economic operators engaged in legitimate business with Iran", she said.

"They want to launch psychological warfare against the Iranian nation and create divisions among the people", he said in a televised interview.

The European Union opposes the new sanctions, and argues that the nuclear deal, from which the United States withdrew under the Trump administration, was and is vital to their security.

It called on the global community "not to allow such significant achievements in multilateral diplomacy to be sacrificed in the name of American aspirations to settle political scores with Iran".

White House national security adviser John Bolton said on Monday Iran's only chance of escaping sanctions would be to take up an offer to negotiate with Trump for a tougher deal.

"Today, the entire world has declared they are not in line with USA policies against Iran", Zarif said in a speech, according to the semi-official ISNA news agency. Against a backdrop of political turmoil and protests in Iran, Foreign Minister Mohammad Javad Zarif accused Mr. Trump of "bullying" and of being isolated in his hostility to the Islamic Republic.

The United States has reimposed economic sanctions on Iran that were originally put in place to pressure the country to limit its nuclear program and later lifted under a 2015 worldwide agreement.

The official said the United States expects Iran will blame it for any new hardships, saying, "They've been doing it for nearly 40 years".

The European countries have promised to try to mitigate the impact of renewed USA sanctions to persuade Tehran to continue to abide by the deal's terms.

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They will also limit Iran's access to the software and automotive sectors, while blocking its ability to buy commercial aircraft or trade in food and other goods as well.

Many large European firms are leaving Iran for fear of U.S. penalties, and Trump warned of "severe consequences" for firms and individuals that continued to do business with Iran. "I can't afford to buy food, pay the rent." said a construction worker on the streets of the capital.

Trump decided this year to pull out of the agreement, ignoring pleas from the other world powers that had co-sponsored the deal, including Washington's main European allies Britain, France and Germany, as well as Russian Federation and China.

The EU's "blocking statute", aimed at shielding European companies that do business with Iran, came into effect on Tuesday.

Additional sanctions on Iran's oil sector and central bank are to be reinstated in early November.

The EU foreign affairs chief Federica Mogherini said that the EU would pass a "blocking statute" on Tuesday to nullify United States legal action against European companies in connection with Iran.

Siemens CEO Joe Kaeser told CNN in May that his company could not do any new business in Iran.

Rouhani praised Europe for "resisting the Americans" in its call "to join the regime of sanctions".

"Prices are rising again, but the reason is government corruption, not U.S. sanctions", said Ali, a 35-year-old decorator in Tehran.

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