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The European Union is doing the Prevention Act to protect its companies in Iran
22/7/2018 12:00 am [rtl]BRUSSELS ( Reuters) - European Union regulation known as the "Prevention Act" is expected to be finalized to protect European companies from US sanctions on commercial ties with Iran in the southern city of Herak, Belgian media quoted a European Union diplomatic source as saying. European Commission President Jean- Claude Juncker said in May that the European Union would begin taking measures to protect itself from the consequences of US sanctions against Iran. Juncker explained that the European countries have taken a decision to re-apply the so-called (Prevention Act) of 1996 to protect their companies from the impact of unilateral American steps. Neutralize the effect "Now is the time to act, and that is why we are launching the process of implementing the 1996 Prevention Act aimed at neutralizing the transboundary impact of US sanctions in the European Union," Juncker said, commenting on Europe's response to the United States' re-application of its sanctions against Iran over its nuclear program. "It is necessary to do this, and stressed that Europe will not keep the US sanctions without a response," he said, noting that our duty - that is, the duty of the European Commission and the European Union - is to protect our companies, especially the small and medium. Decision pointed Juncker that " the application of this procedure was supported by the leaders of the European Union countries," adding that it was also a decision to facilitate the European Investment Bank 's investment operations for European companies in Iran. "The European Commission will support the continued cooperation of the countries of the region with Iran, the European Commissioner for Energy, Miguel Arias Kaniinte, went to Iran and conducted negotiations with the Iranian side." Administrative procedures The foreign ministers of EU member states approved the amendments to the Prevention Act on July 16, and is expected to invalidate this law, judicial decisions and administrative procedures of the United States under the sanctions regime against Iran on European territory, and therefore, prohibits companies that take Of the EU-based cut off trade relations with the country. The EU's current protection list was adopted in 1996 to defend its interests in Cuba against US sanctions, yet not fully implemented, creating uncertainty about how to apply it on the ground.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=160340 [/rtl] |
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