Macron Rules Out Trade War Over Iran Deal As Firms Head For Exit

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SOFIA – French President Emmanuel Macron ruled out on Thursday any trade war with the United States over its withdrawal from the Iranian nuclear deal as a wave of European companies quit business with Tehran, fearing the global reach of U.S. sanctions.

European Union leaders united behind the 2015 accord, and Brussels announced it would launch a legal process banning EU-based firms from complying with the sanctions that President Donald Trump has reimposed on Iran.

However, corporations face the choice of trading with the biggest economy in the world, the United States, or with Iran, risking sanctions and massive fines as well as losing access to the dominant U.S. financial system.




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