Europeans Irked by U.S.-Iran Trade as Companies Suffer

Europeans are complaining about rising American trade with Iran as their companies bear the brunt of the sanctions that the U.S. government pushed through against the Islamic Republic.

While Europe’s trade with Iran still dwarfs that of the U.S. by more than 20-to-one, American business has climbed 35 percent since 2011, compared with a 77 percent drop for the European Union, according to data compiled by Bloomberg. Some officials say it’s unfair that U.S. exports, mostly food, pharmaceuticals and medical devices, are rising at a time when European companies are making sacrifices and their banks are being fined for alleged dealings with sanctioned countries.