EU Tries To Fend Off Unilateral US Laws On Iran [View All]

[Purveyor]

Source: Reuters

BRUSSELS - The European Union is trying to fend off moves by the US Congress to punish foreign firms that do business in Iran, diplomats say.

The main European powers say they are willing to join Washington in seeking tougher sanctions against Tehran at the United Nations over its refusal to halt uranium enrichment, which the West suspects is aimed at making nuclear weapons.

But Brussels will fight any attempt to apply US law unilaterally to punish European firms that invest in or trade with Iran, if necessary at the World Trade Organisation, the diplomats said, speaking on condition of anonymity.

The EU is particularly alarmed at a bill passed by the House of Representatives that would end a presidential waiver sparing European companies from US sanctions on firms that invest more than $20 million in the Iranian oil and gas sector.



Read more: http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/theworld/2007/September/theworld_September362.xml§ion=theworld&col=