On Monday, August 6, the long-arm of the U.S. Treasury Department reached into Europe and violently shook the continent. The first wave of U.S. secondary sanctions on entire sectors of the Iranian economy are now back in force, which means major European conglomerates and large-sized businesses have a potentially existential choice to make. Do we continue to do sign deals in Iran that Washington now explicitly prohibits? Or do we take the path of least resistance by removing our money from the Iranian market and saving ourselves the trouble of billions of dollars of U.S. fines, billions more in asset freezes, and severe damage to the company’s reputation?
President Donald Trump talks himself up as an unpredictable and eccentric man whose impulses keep everybody guessing, but he has been quite transparent about his hatred of the Iranian nuclear deal.
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