EnergyWatch

EU acts to counter US sanctions on Iran, preserve nuclear deal

The EU activates measures aimed at preserving the Joint Plan of Action and to protect European companies operating in the country.

Photo: Bloomberg

The European Union started to activate measures to preserve the Iran nuclear agreement and to protect EU companies operating in the country, as the bloc reiterated support for the landmark deal after President Donald Trump's decision to withdraw from it.

The European Commission, the EU's executive arm in Brussels, on Friday began putting a so-called blocking statute in place to shield European companies doing business with Iran from US sanctions. It’s the first time in more than two decades that the measure is being invoked.

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