undergroundnewsroom.com
undergroundnewsroom.com May 27, 2018


European Union moves to block U.S. sanctions on Iran

18 May 2018, 03:39 | Damon Campbell

Europe to exempt its firms from US sanctions on Iran

US sanctions against Iran to favour Russian businesses

The European Commission said it had started the process of renewing a sanctions-blocking measure to protect European business in Iran, after the United States reimposed sanctions on Tehran.

Juncker's announcement comes after U.S. President Donald Trump withdrew Washington from the worldwide deal with Iran, which placed limits on Tehran's nuclear programme in exchange for sanctions relief.

Danish shipping giant Maersk Tankers also said Thursday it would cease its activities in Iran, while German insurer Allianz announced plans to wind down its business deals there.

In addition, Jean-Claude Juncker noted that EU leaders had "also made a decision to allow the European Investment Bank to facilitate European companies' investment in Iran" and that the European Commission would continue to cooperate with Iran.

It has also facilitated the ability of the European Investment Bank to support investment in small and medium-sized enterprises in Iran.

"We now need to act and this is why we are launching the process to activate the "blocking statute" from 1996. We must do it and we will do it tomorrow morning at 10:30", Juncker said at the summit in Sofia.

The commission said it hopes the statute will be in force before August 6 when the first batch of reimposed USA sanctions take effect.

Europe to exempt its firms from US sanctions on Iran
Iran and EU attempt to salvage deal

The EU executive said on Friday it "launched the formal process to activate the Blocking Statute by updating the list of USA sanctions on Iran falling within its scope".

And, in a bid to reassure the Iranian government of the EU's political commitment to saving the nuclear deal, Energy Commissioner Miguel Canete is visiting Tehran this weekend.

"Guarantees of benefits of the JCPOA should be given to Iran".

European investments in Iran, mainly from Germany, France, and Italy, have jumped by more than 20 billion euros since 2016. Trump vowed to reinstate the previous sanctions and introduce new restrictions should Tehran carry out its nuclear ambitions.

The approach, it said, could ensure Tehran receives its oil-related revenues if U.S. sanctions target European Union firms active in oil transactions with Iran.

French energy giant Total's deal, worth up to $5bn, signed to help Iran develop the world's largest gas field.

Lightning strike back, beat Capitals in Washington
Those last-second power play goals, including a buzzer-beater, aren't exactly routine, especially in back-to-back games. ET, NBCSN). "They came in here, they're desperate and they played that way", said Capitals coach Barry Trotz.

Fortnite's Infinity Gauntlet Avengers Mashup Ends Tomorrow
Downtime begins at 4am ET (08:00 GMT),' Epic Games said in a statement overnight. Patch notes for Fortnite update 4.2 have not been revealed yet.

OnePlus 6 launch: What to expect from the phone
With such an impressive device costing $529 (or only $579 for the 128GB model), we're not sure how long it will stay in stock. OnePlus made a decision to hold an event in London , England to show off its latest and greatest and it doesn't disappoint.



Other News

Trending Now

Storms lash Northeast, leaving at least 2 dead
An 11-year-old girl died in Newburgh, New York, when a large tree fell on the vehicle she was in, police said. Roads in many towns were impassible and some schools cancelled classes due to the damage.

Taliban militants besiege Farah provincial capital in Afghsanistan
But inside the city residents reported clashes were continuing. The Taliban have pledged to cooperate with the project.

JR Smith called for flagrant foul after dirty play
You've got to stand up and that's what I tried to do". "You know, I just looked at it, Al is a defenceless person". Celtics guard Marcus Smart came to his teammate's defense, exchanging words and shoves with Smith after the play.

Samsung Galaxy J6 & Galaxy J4 Specifications Leaked
The device will be backed by a 3,000mAH battery and will house a 13MP primary camera along with a 5MP front camera. While the Galaxy J6 is mentioned to launch on May 25th, there is no information about the launch date of Galaxy J4.

Kohli's RCB makes short work of Kings XI
Rahul continued his scintillating form in the IPL by smacking two fours and seven sixes as Punjab's top order crumbled around him. Since his inclusion in the eleven, de Grandhomme has been consistently contributing with whatever limited opportunities he gets.

Trump spoke about the state of health of the wife after surgery
An embolization is a minimally invasive treatment that blocks one or more blood vessels or abnormal vascular channels. Trump also represented the administration at the April funeral of former first lady Barbara Bush .

Nokia X6 with iPhone X-like notch, dual rear cameras announced
From a product perspective, the Nokia X6 has a lot of plus points that would make it a good offering for markets such as India. The device is powered by the latest octa-core Qualcomm Snapdragon 636 chipset clocked at 1.8 GHz along with Adreno 509 GPU .

Rafael Nadal reacts to getting back to winning ways in Rome
Nadal, who hasn't won the Italian Open since 2013 , next faces Fabio Fognini , who beat Peter Gojowczyk 6-4, 6-4. Past year in Rome, Halep rolled her ankle in the final and lost a lead and the championship to Elina Svitolina.

HTC Officially Announces Exodus, the World's First Blockchain-Powered Smartphone
As reported earlier, Finney is the first blockchain centric smartphone with an emphasis on supporting Decentralized apps. Currently, details regarding the price of the phone are scant.

Guatemala Becomes Second Country To Move Israeli Embassy To Jerusalem
Paraguay is expected to follow the U.S and Guatemala's lead, and plans to relocate their embassy to Jerusalem in the coming weeks. Israel captured East Jerusalem in the 1967 Mideast war and later annexed it in a move not recognized internationally.