Croatia Supports EU Enlargement to Western Balkans

Croatia Supports EU Enlargement to Western Balkans

Croatia Supports EU Enlargement to Western Balkans

French President Emmanuel Macron said on Thursday that the European Union must protect EU companies doing business with Iran from United States sanctions being reimposed over Tehran's nuclear program. Tehran had repeatedly hailed the project as a symbol of the nuclear accord's success.

"We've had a vibrant discussion on Iran". The 2015 deal is an important element of peace and security in the region, and we chose to back it regardless of the U.S. decision.

At summit with regional leaders, French president says thoughts of enlargement have 'weakened Europe'.

Macron, voicing understanding for big companies anxious to protect their US sales, said France backed proposals by the European Commission to protect and compensate European companies that might be hit by USA sanctions for trading with Iran.

But with French oil company Total saying it will up sticks if the USA does not grant it a waiver and the world's largest container shipping firm Moller-Maersk saying it would quit the country, Macron and German Chancellor Angela Merkel appear to be fighting an uphill battle.

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 US financial system.

The EU can not compel or really protect the private sector, Bjarne Schieldrop, an oil analyst at Scandinavian broker SEB, told the Financial Times.

The EU wants to salvage the 2015 nuclear deal between Tehran and world powers, which lifted most of the global sanctions that have badly hurt the Iranian economy in exchange for curbs on its nuclear programme. This is our strategic choice, "said the French leader".

The SP11 agreement was signed last July, making Total the first major Western energy company to invest in iran since sanctions were lifted in 2016.

Finnish mining technology company Outotec said USA sanctions would slow down and complicate its ties with Iran but it was too early to say if it would leave.

"I have no doubts that we will also witness in the future many problems", he said, adding that the European Union was offering no "unrealistic" fast-track to take the six in.

For us the stability and security of the Balkans is a very important topic.

"They pledged to work with the many parties to the deal to this end ... and stressed that Iran must continue to meet its own obligations under the deal", she added.

"With the withdrawal of the US from the treaty the banks are no longer ready to fund Iranian projects for fear of secondary sanctions", Danieli CEO Alessandro Trivillin said.

CEO Soren Skou told Reuters on Thursday that A.P. Moller-Maersk was following suit. The institution's primary goals are to contribute to the growth, innovation and employability around Europe and does so through a provision of loans, unlocking financing from places such as the European Union budget and supporting administrative management that benefits investment.

Khan said that it is up to the member countries of the EU: whether they will accept the recommendations of the European Commission concerning two new potential members of the Union. "This is an important worldwide agreement that has the objective to limit nuclear proliferation", Ratas said. No US money or companies were involved, said Pergas CEO Clint Elgar.

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