Economics
EU Acts to Counter U.S. Sanctions on Iran, Preserve Nuclear Deal
- European nations united in effort to salvage landmark accord
- Bloc’s leaders signed off on measures at meeting in Sofia
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The European Union started to activate measures to preserve the Iran nuclear agreement and to protect EU companies operating in the country, as the bloc reiterated support for the landmark deal after President Donald Trump’s decision to withdraw from it.
The European Commission, the EU’s executive arm in Brussels, on Friday began putting a so-called blocking statute in place to shield European companies doing business with Iran from U.S. sanctions. It’s the first time in more than two decades that the measure is being invoked.