81. Limited Impact: European Moves to Dodge US sanctions on Iran
- Author:
- FARAS
- Publication Date:
- 10-2018
- Content Type:
- Commentary and Analysis
- Institution:
- Future for Advanced Research and Studies (FARAS)
- Abstract:
- The European Union seeks to continue its economic relations with Iran under the nuclear deal, despite the US withdrawal from the deal on May 8 and the imposition of new economic sanctions against Iran. Accordingly, the EU has adopted, over the past months, countermeasures to protect its economic interests with Iran and to sidestep US sanctions. The most important of these measures is introducing the “Special Purpose Vehicle” and reviving the “Blocking Statute”, as well as allowing the European Investment Bank (EIB) to work in the Iranian market. However, these mechanisms seem to have little impact due to the reluctance of the European companies and institutions themselves to continue to deal with Iran for fear of US sanctions.
- Topic:
- Nuclear Weapons, Treaties and Agreements, Sanctions, European Union, and Donald Trump
- Political Geography:
- Iran, Middle East, North America, and United States of America