The EU rejected US demand to isolate Iran

Europeans on Monday rejected US demand to economically isolate Iran and adopted a legal instrument to protect European companies in the country against US sanctions, said Federica Mogherini, the European Federalist leader .

"We approved the update of the blockade status and took all steps to allow Iran to benefit from the economic consequences of lifting the sanctions," said Mogherini at the end of the meeting. 39, a meeting with the Foreign Ministers. The blockade will come into effect on August 6, the date of the imposition of the first part of the American sanctions

The second part of these sanctions must come into force on November 4, during the half-term elections in the United States. United. ] This regulation, drafted in 1996, aims to counter the fact that the sanctions The American law applies to all companies and individuals in the world – according to the principle of extraterritoriality of the American law

Lots major European companies, like the French group, have decided to withdraw from Iran if they are not exempt from US sanctions. Hungarian Foreign Minister Peter Szijjarto said that Ukraine violates the law on the protection of minorities

Washington refused to exempt European companies after denouncing the agreement in the nuclear file Iranian

Federica Mogherini admitted that because the weight of the United States in the global economy is not negligible. "

" I am not in a position to say whether our efforts will be sufficient, but we are doing everything to prevent the agreement in the Iranian nuclear issue from dying, because the consequences would be catastrophic for all ", she warned Jean-Yves Le Drian, head of French diplomacy, insists on "the need to allow Iran to continue selling its oil."

It emphasizes that "l & # 39; EU and other signatories of the agreement reached Tehran in 2015, China and Russia are seeking a financial mechanism to guarantee Iran's ability to export its oil. "

The energy sector has reported $ 50 billion in revenue to the Iranian state in 2017, according to European customs.Resources come mainly from oil because gas exports are very low – ten billion cubic meters in 2017.

Iran exports 3.9 million barrels of oil a day – 20% are bought by the EU and 70% China and other Asian countries, data from EU

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Miguel Arias Canete, Commissioner for Energy Services, works on this mechanism and "proposals are expected", according to a diplomatic source.

Euro – not the dollar – would be the slogan used in Iranian oil transactions, paid by transfers between the European Central Bank and the Iranian Central Bank

Insurance must also to be underwritten by European importing countries with regard to freight, as is the case in Greece, France and Italy