European Union tells businesses to boost trade with Iran despite U.S. sanctions

European Union tells businesses to boost trade with Iran despite U.S. sanctions

European Union tells businesses to boost trade with Iran despite U.S. sanctions

Responding to Mr. Trump's comments, Iran's President Hassan Rouhani said that Washington's call for new nuclear negotiations at the same time the US reimposes crippling sanctions "makes no sense".

Some re-imposed sanctions took effect overnight and tougher ones relating to oil exports will begin in November.

Zarif suggested it was hard to imagine negotiating with Trump after he had torn up the 2015 nuclear deal, on which Iran and world powers had spent the "longest hours in negotiating history".

Iran is accusing the USA of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest.

"We deeply regret the re-imposition of sanctions by the USA, due to the latter's withdrawal from the Joint Comprehensive Plan of Action (JCPOA)", according to a statement on Monday from the foreign ministers of the UK, Germany, France and the EU.

Hailing the law, Mr Burt said it would protect European businesses. "The EU, along with China, Russia, France, Germany and the United Kingdom, was also a signatory to the deal and has not withdrawn".

Saudi Arabia and Israel, Iran's key regional rivals, are among the only countries to strongly support the reimposition of United States sanctions.

But Mr Trump said: "We urge all nations to take such steps to make clear that the Iranian regime faces a choice: either change its threatening, destabilising behaviour and reintegrate with the global economy, or continue down a path of economic isolation".

Whether to comply with U.S. sanctions or keep doing business in Iran is a "purely economic decision", one senior official argued.

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"We are always in favour of diplomacy and talks".

"Anyone doing business with Iran will NOT be doing business with the United States", Trump vowed on Twitter.

European Union officials, however, were quoted on Monday as saying that a number of other countries had asked them for details on the blocking regulations as they also explore ways to bypass sanctions.

"If you're an enemy and you stab the other person with a knife and then you say you want negotiations, then the first thing you have to do is remove the knife". "But talks need honesty", Rouhani said. But most Iranians have yet to see major economic improvement, and the prospect that Washington would re-impose sanctions helped drive a collapse in the value of Iran's currency this year, raising the cost of imports.

The US has long designated Iran as the world's foremost state sponsor of terrorism, Pompeo noted Sunday, adding that the Islamic Republic can not expect to be treated as an equal in the worldwide community until it halts such activities.

"If Iran were really serious they'd come to the table".

He called on the countries of Europe to join the U.S., saying, "The time has come to stop talking; the time has come to do".

The blocking statute applies to anyone, foreign or otherwise, who is a resident in the European Union and also does business in Iran.

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