This is a European rule dating back to 1996, when Europe
\nwent around an embargo against Cuba, a disagreement that was eventually settled
\nat a political level. <\/p>\n
<\/p>\n
\n
\n
\n
<\/p>\n
This law is back at the forefront as the US decided to
\npull out of the Iran nuclear deal, and has to be adjusted by August 6, when
\nWashington starts applying sanctions. This set of blocking status rules allows
\nEuropean companies and courts to avoid third party sanctions, and stipulates
\nthat no foreign court rules need apply to EU countries. It is about protecting
\ninternational companies where there is European involvement in the face of
\ndecisions from the American administration, as explained by Euro MP Iuliu
\nWinkler. <\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
Iuliu Winkler: The
\nUnited States has parted with multilateralism. The US is in a process of
\nattacking the World Trade Organisation. They are discontent with the
\nOrganisation, they are discontent with the multilateral trade agreements into
\nwhich, according to president Trump, the US has been duped. Now the US is
\npulling out of an accord that, in my opinion, is crucial for the Middle East.
\nThis assault on multilateralism is the expression of the lone wolf tactics that
\nPresident Trump follows. Multilateralism is essential for Europe and the EU
\nboth for trade and the economy, as well as for geopolitical and strategic
\ninternational relations.<\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
Brussels has also decided to allow the European
\nInvestment Bank to facilitate European investment in Iran. The head of European
\ndiplomacy, Federica Mogherini, said that there was no alternative to the
\nagreement with Iran, in reply to Secretary of State Mike Pompeo, who invoked 12
\ndrastic conditions for a new accord with Tehran, which limited the Iranian
\nnuclear programme in exchange for lifting sanctions. <\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
German Chancellor
\nAngela Merkel said that no one in the EU believes that the Iran deal is
\nperfect, but that it is needed, and there is a need to continue negotiating
\nwith Iran on various other themes, including that of ballistic missiles.
\nAnalysing the EU reaction to the decision made by the White House, Adrian
\nMitroi, professor of international relations with the Bucharest School of
\nEconomics, said that Europe’s swing between trade and global strategy is very
\ncomplicated.<\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
According to
\nhim, we are in a very interesting, and possibly critical area, an area in which
\nthe pressure is on the price of oil, which on short term would probably result
\nin a slight economic slowdown. One should not forget in this equation the
\ndependence of Europe on Russian natural gas, and the fact that Washington is
\nagainst these trade relations. We asked Adrian Mitroi if the EU may hope to
\nbecome one of the powerhouses of the planet alongside the US, Russia, and
\nChina.<\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
Adrian Mitroi:
\nHonestly, I don’t think so. The EU has lost a lot in terms of foreign policy.
\nEurope is not too active in foreign policy terms. The American continent has
\nmanaged quite well, the EU does not have a single treasury, which means that
\npolicies are slightly offset. Here we are more sensitive to a stronger dollar or
\nhigher interest rates on the dollar. The fact that we are in a full process of
\nreforming the EU, and I include here the economic part, a common treasury, all
\nthese good things that would have granted us economic strength, are slowing us
\ndown.<\/p>\n
<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
However,
\naccording to Adrian Mitroi, Europe has the great advantage of having more
\nthings that tie people together than the other way around.<\/p>\n
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
European Commission President Jean-Claude Junker said that the European Commission has a duty to protect European businesses, ahead of applying the blocking status law, meant to meet the effects of the US pulling out of the Iran nuclear deal.<\/p>\n","protected":false},"author":108,"featured_media":71822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43939],"tags":[29073,29053,30613],"coauthors":[],"class_list":["post-155909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-future-starts-today","tag-angela-merkel","tag-european-commission","tag-federica-mogherini"],"acf":[],"yoast_head":"\n