PARIS (Reuters) – The European Union could put in place regulations to protect its firms doing business in Iran if the United States withdraws from the 2015 nuclear deal and restores extraterritorial sanctions, a senior EU official said on Thursday.
European countries have been looking to increase trade with Iran since Paris, Washington and other world powers agreed to lift most economic sanctions in 2016 in exchange for limitations on Tehran’s nuclear programme.
But U.S. President Donald Trump on Jan. 12 vowed to restore U.S. sanctions unless France, Britain and Germany change what he calls the “worst deal ever” to his liking, effectively putting it on life support until mid-May.