Economics
Doubts Emerge Over EU’s Attempts to Counter U.S.-Iran Sanctions Threat
- Nations said to be skeptical about countermeasures’ efficiency
- European Union trying to salvage nuclear deal as U.S. leaves
Macron, Europe Turn to Putin to Help Salvage Iran Nuclear Deal
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European Union efforts to circumvent U.S. sanctions on companies with business in Iran showed signs of unraveling as some member states questioned whether measures to counteract the penalties would do more harm than good.
While Chancellor Angela Merkel was among EU leaders who unanimously gave the green light last week for the bloc to take action, in private the German government is worried some of the steps responding to the U.S. threat could become an overwhelming burden, according to a government official. Germany is especially concerned that a regulation forbidding companies from complying with U.S. sanctions would inflict too dire a cost, said the official.