France
France vows pushback against US sanctions on #Iran
France pledged on Friday (11 May) to push back against the threat of US sanctions against French companies doing business with Iran, in the wake of Washington’s withdrawal from the international nuclear agreement with Tehran, writes Laurence Frost.
The French government is seeking waivers and longer transition periods from the United States for companies such as Renault and Total, Finance Minister Bruno Le Maire (pictured) said, while pressing for European Union measures to improve the bloc’s “economic sovereignty” in the longer term.
“It’s time that European countries opened their eyes,” Le Maire said on Europe 1 radio.
Germany plans to offer legal advice to help its firms continue to do business in Iran, Economy Minister Peter Altmaier also said on Friday.
France and Germany are among EU countries that had drawn up euro-denominated Iran export finance programmes to resist US sanctions. But the severity of Washington’s stance has raised doubts about their viability.
Le Maire said he had asked U.S. Treasury Secretary Steven Mnuchin for temporary or permanent exemptions for French companies, citing carmaker PSA, drug giant Sanofi and food group Danone among those affected - in addition to Renault and oil major Total.
French Foreign Minister Jean-Yves Le Drian also toughened the government’s tone in an interview with Le Parisien.
“We’re telling the Americans that it’s their business what sanctions they impose, but we consider the extraterritoriality of these measures unacceptable,” Le Drian said. “Europeans should not have to pay for US withdrawal from an agreement.”
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