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But Trump’s pullout has left international companies doing business in Iran vulnerable to the extraterritoriality of US law, which enables Washington to punish foreign companies operating in Iran if they have business dealings with the US or use dollar transactions.
Europe has long complained about the long arm of US economic jurisdictions, which made it difficult for major European banks and companies to operate in Iran even before the US pullout. Amid uncertainty over Trump’s impending decision, European banks have avoided Iran-related transactions, fearing “the American guillotine” that has severely punished firms evading US sanctions in the past, such as a hefty, almost $9 billion fine slapped on France’s largest bank, BNP Paribas, in 2014 for sanctions evasion.
On Wednesday, those gripes reached a pitch. Slamming the US withdrawal from the Iran deal as “an error”, French Finance Minister Bruno Le Marie complained that it was “not acceptable” for the US to play “economic policeman of the planet”.
originally posted by: Gothmog
And this should trouble me , why ?
Bully for Europe if they want to keep feedin money to a bunch of radical mullahs
The US is done with the lot of em
President Trump announced yesterday that he was unilaterally pulling the U.S. out of the so-called Iran Deal, an international agreement that lifted sanctions on Iran in exchange for the cessation of Iran’s nuclear weapons program. But now that the sanctions are being reinstated, some American companies stand to lose a lot of money. Boeing alone is losing about $20 billion in contracts.
The US Treasury says licenses held by aerospace giants Boeing and Airbus to sell passenger jets to Iran will be revoked after Washington announced its withdrawal from the 2015 nuclear deal.
"The Boeing and (Airbus) licenses will be revoked," Treasury Secretary Steven Mnuchin said on Tuesday.
"Under the original deal there were waivers for commercial aircraft, parts and services and the existing licenses will be revoked," he added.
The remarks came after US President Donald Trump on Tuesday announced that he was quitting the Iran nuclear agreement, officially called the Joint Comprehensive Plan of Action (JCPOA).
originally posted by: Flyingclaydisk
Europe needs to stand on its own two feet here. I find it more than just a little ironic that the Iran deal, when all is said and done, comes down to money...and NOT a nuclear apocalypse in Europe. Just never ceases to amaze me how that works. Sometimes I really wonder if nukes wouldn't just vanish if you removed money from the equation. So many like to point to nukes existing as a result of ideology (religion, governmental structure, etc.), and maybe that's true, IF the only ideology we're talking about here is...greed!
... I wonder how many big big wars have been averted due to countries having nukes..?