Published: Fri, May 18, 2018
Worldwide | By Gretchen Simon

Donald Tusk Lambasts Trump on Trade Decision, Iran Nuclear Deal

Donald Tusk Lambasts Trump on Trade Decision, Iran Nuclear Deal

The French president said that "the European Union made a decision to preserve the nuclear deal and defend EU companies" adding that "our main interest in Iran is not in trade, but in ensuring stability in the region, at the same time, we will not become an ally of Iran against the United States". Donald Tusk told reporters ahead the EU leaders' agenda dinner for the EU-Western Balkans summit set for Thursday in Sofia, Bulgaria.

However, corporations face the choice of trading with the biggest economy in the world, the United States, or with Iran, risking sanctions and massive fines as well as losing access to the dominant US financial system.

In order to protect European Union companies from U.S. extraterritorial sanctions, they agreed to modernise the so-called blocking statute, a 1996 regulation that prevents companies to recognise certain non-EU jurisdictions decisions.

The transatlantic rift has hijacked the agenda of a summit at which the European Union leaders will meet their Balkan counterparts in a bid to foster closer ties and keep Russian Federation out of their backyard.

China's foreign ministry said last week it regretted the U.S. decision and called for parties involved to stick to diplomatic approaches to stay on track for full implementation of the 2015 accord. Tehran had repeatedly hailed the project as a symbol of the nuclear accord's success. "The President of the French Republic in not the CEO of Total!". "My priority is not trade or finance in Iran".

Tusk said he wanted the European leaders to "reconfirm" that they will stay in the Iran deal, as long as Tehran respects it - although Europe must now find a way to make up for the United States sanctions on Iran that Trump will reactivate. While Juncker stressed that the US imposed protectionist measures can not be justified on grounds of national security.

Star formation underway 250 million years after Big Bang
In addition, ALMA also detected a weaker signal of hydrogen emission was also detected by ESO's Very Large Telescope ( VLT ). All the elements heavier than these three had to be forged inside stars through the process of nuclear fusion.

Washington is re-imposing strict sanctions on Iran, which were lifted under a 2015 global deal to control the country's nuclear ambitions.

The so-called "allies", who were part of negotiating and striking the agreement among the P5+1 group of countries - the five permanent members of the UN Security Council (China, France, Russia, the United Kingdom and the United States) plus Germany - were completely excluded as Trump unilaterally took his decision and has threatened European countries and companies with punitive measures in the event of non-compliance with his "orders".

Juncker's announcement comes after US President Donald Trump withdrew Washington from the worldwide deal with Iran, which placed limits on its nuclear programme in exchange for sanctions relief. Soren Skou, chief executive of Danish-based A.P. Moller-Maersk, said his firm would have to accept the sanctions.

But companies around the world now face a hard choice as Washington has threatened to punish firms that violate United States sanctions by dealing with Iran. "I don't know the exact timing details, but I am certain that we're also going to shut down".

"We will begin the "blocking statute" process, which aims to neutralise the extraterritorial effects of U.S. sanctions in the EU".

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