European corporations that eagerly embraced the Iran nuclear deal three years ago with euro signs in their eyes may find it a little awkward to fulfill some of those multi-billion contracts they signed with the evil regime.
The U.S. has refused to grant exemptions to European governments and corporations from new sanctions Washington has placed on the Tehran regime.
The United States has rejected an appeal from Britain, France and Germany to grant broad exemptions to European firms doing business in Iran, saying it would press ahead with sanctions intended to exert “unprecedented” economic pressure on the Tehran regime, U.S. and Western officials told NBC News.
Replying to a June 4 letter from the European powers, Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin wrote that the Trump administration would not agree to wide-ranging protections for European companies operating in Iran and instead would grant only limited exceptions based on national security or humanitarian grounds, the officials said.
The stern message comes as the White House has ratcheted up its rhetoric toward Iran, accused Tehran of plotting terrorist attacks in Europe and vowed to hammer the country’s economy.
Before the sanctions were lifted by the Obama administration, Iran was on the ropes financially. Sky-high unemployment, ruinous inflation, and economic malaise led to unrest and dissatisfaction with the ruling mullahs.
Then, the tens of billions of dollars in assets handed over to the terrorist regime by Obama, followed by more billions in contracts signed by Europe’s biggest corporations, staved off disaster for Tehran. Now, the Trump administration wants to put the pressure on the Iranians again and our friends in Europe are howling in protest.