United Europe plots to bypass Trump sanctions on Iran

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The move puts Europe on an economic collision course with the U.S. as it seeks to protect companies, institutions and trade with Iran from the sanctions that will come into effect in August.

French President Emmanuel Macron said on Thursday Europe would try to protect its companies doing business with Iran from US sanctions, reimposed over Tehran's nuclear programme, but said giants like Total would make their own choices.

"But frankly speaking, Europe should be grateful to President Trump".

On Wednesday, asserting Europe's growing readiness to distance itself from its transatlantic ally, Tusk launched a stinging criticism of the USA president, saying that "with friends like that, who needs enemies". We believe European leaders will spare no effort to salvage the Iran nuclear deal. The bloc would also discuss WTO-compatible ways to improve reciprocal market access for industrial products including cars to avoid a trade war.

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The EU's proposals are its most assertive yet in dealing with the USA, whose withdrawal from the 2015 agreement threatens to scupper the treaty and has anxious leaders it could put Iran back on a path to developing nuclear weapons. The law was initially passed to prevent the United States blocking European Union companies from trading with Cuba. She highlighted the importance of deepening economic relations with Iran, including in the area of energy supplies.

The EU wants to salvage the Iran nuclear deal, which offers the Islamic Republic relief from economic sanctions in exchange for curbs on its nuclear programme and Europe sees as an important element of worldwide security. We are calling all the parties for negotiations on an extended version of the agreement. "I don't know the timing details exactly, but I am certain that we're also going to shut down (in Iran)", he told Reuters.

With Trump's decision to rip up the deal, the U.S. has turned itself into a destroyer of the global order. The US dollar's overwhelming position of dominance in the global financial system is one prominent example.