France says it is weighing possible ways that could help the European Union compensate European companies that might be facing sanctions by the United States for doing business with Iran following Washington's withdrawal from a key 2015 nuclear agreement between Tehran and major world powers.
Head of Germany’s DIHK Chambers of Commerce Eric Schweitzer called for the EU to take a tough line in the trade dispute with the United States, saying while it was important to remain in dialogue over difficult conflicts, “we’re moving in the wrong direction if we automatically react to new unreasonable demands with concessions.”
The European Commission is set to launch a legal process based on a powerful law to block American sanctions against Iran as European Union powers mobilize to save the landmark 2015 nuclear deal following Washington’s unilateral pullout.
Mogherini: Europe seeking quick solution to save JCPOA
The European Union plans to switch to the euro for oil purchases from Iran, eliminating the US dollar as the two sides work to protect bilateral trade against possible American sanctions, a report said.
China accused the European Union on Tuesday of risking a return to the “law of the jungle,” telling a dispute hearing at the World Trade Organization that it was astonished by what it called the EU’s disregard for the WTO’s rulebook.