Europeans Invoke 'Blocking Statute' To Preserve Iran Deal [View all]
Source: National Memo
May 20, 2018 4:45 am / 0 Comments / Europe, Headlines, Middle East, White House, World
Reprinted with permission from Shareblue.com
Trump’s decision to violate the Iran nuclear deal is prompting the European Union to take action in direct rebuke of America. The EU will invoke a rarely-used trade law which would circumvent sanctions on Iran and try to salvage relations.
European Commission President Jean-Claude Juncker said the group plans to invoke a blocking statute. The effect of the statute would be to ban European companies from complying with U.S. sanctions on Iran.
Iran has successfully complied with international inspections of nuclear facilities. Yet Trump, desperate to undo the accomplishments of President Obama, plans to reinstate the sanctions that were lifted in exchange for Iran halting nuclear production.
Furthermore, reintroducing sanctions is also likely to increase U.S. gas prices, causing financial pain for millions of Americans.
Read more: http://www.nationalmemo.com/europeans-invoke-blocking-statue-to-preserve-iran-deal/
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Donald Tusk, president of the European Council, put Trump’s disdain for traditional allies in very clear terms. “With friends like that, who needs enemies,” he wondered.
His assessment appears spot-on. Under Trump, America is going it alone, abandoning allies it once fought beside to prevent the spread of tyranny. And the European Union is doing anything it can to limit the damage from his reckless acts.
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