EU threatens to sanctions European firms complying with U.S. sanctions against Iran

The European Union continues to take measures and voice threats against European companies halting business with Iran because of the reinstated U.S. sanctions. In an interview to BBC Radio 4, Nathalie Tocci – an aide to EU Foreign Policy Chief Federica Mogherini – threatened European firms that if they halt business dealings with the Islamic Republic because of U.S. sanctions, they will face EU sanctions instead. The threat comes as part of the E.U.’s efforts to apply countermeasures to Washington’s sanctions, including  a Blocking Statute that forbids EU residents and companies from complying with the American sanctions unless they are exceptionally authorized to do so by the European Commission. The statute also allows EU companies to “recover damages arising from such legislation from the persons or entities causing them, and nullifies the effect in the EU of any foreign court rulings based on it.”