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Europe
EU launches ‘blocking statute’ to stem effects of US sanctions of Iran
2018-05-19
[IsraelTimes] The European Union
...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...
 on Friday launches "the blocking statute" process to spare Europeans from US sanctions on Iran as part of efforts to preserve the nuclear deal with Tehran.

The European Commission, the EU executive, says it "launched the formal process to activate the Blocking Statute by updating the list of US sanctions on Iran falling within its scope."

Merkel cautious on compensation after US pullout from Iran deal

[Ynet] German Chancellor Angela Merkel
...chancellor of Germany and the impetus behind Germany's remarkably ill-starred immigration program. Merkel used to be referred to by Germans as Mom. Now they make faces at her for inundating the country with Moslems ..
 is signaling it won't be feasible to offer wide-ranging compensation to European companies affected by US sanctions over Iran's nuclear program.

Merkel said Thursday after EU leaders met in Bulgaria that "all European Union member states still stand by this agreement."

But she was cautious about possible compensation for companies that do business with Iran. She said that "we can see whether we can give small and medium-sized companies certain relief. That is being examined."

However,
a clean conscience makes a soft pillow...
 Merkel added: "As for compensating all businesses in a comprehensive way for such measures by the United States of America, I think we cannot and must not create illusions."
Posted by:trailing wife

#13  The EU energy policy rests mainly on imported natural gas and petroleum. Wind farms will not cut it. So they are stuck between Russia and the ME, which is not a good place to be. Without energy independence, you will always have a knife in the neighborhood of your jugular.
Posted by: Alaska Paul   2018-05-19 22:45  

#12  AlanC-I agree that's what they think, but unfortunately for them, there's no reason for us to bail them out anymore.
Posted by: Spot   2018-05-19 18:54  

#11  Sorry Zhang, I think the Euro-weenies would just assume that there are no real threats in the world so they don't need a defense, and, if worse comes to worst the US will bail them out yet again.
Posted by: AlanC   2018-05-19 17:43  

#10  Why are the Europeans so fucking desperate to keep funding the largest terrorist funding nation in the world?

A few billion dollars of potential annual profits from selling to Iran's 80m population. Prior to our getting entangled in all kinds of alliances post-WWII, we traded with everyone. It was only after Japan invaded China, and, in so doing, threatened the Philippine Islands (then a US possession), that we severely restricted trade with the Japanese. The Europeans want to sell to Iran because they are operating under the illusion that Iran is at heart peaceful, but if that turns out not to be the case, Uncle Sam will deal with the fallout (maybe literally).

I suspect Europe will not buck the US on this. Because in the worst case, we could simply leave NATO, and the EU would be on the hook for hundreds of billions of dollars worth of defense expenditures they'd need to fork up in order to replace the American defense umbrella.
Posted by: Zhang Fei   2018-05-19 16:29  

#9  And blackmail for the bribes they accepted.
Posted by: gorb   2018-05-19 15:42  

#8  Iranian oil, Herb. And the purchases funded by oil profits.
Posted by: trailing wife   2018-05-19 13:06  

#7  A word or two for Herb....more MONEY !
Posted by: Besoeker   2018-05-19 09:58  

#6  Why are the Europeans so fucking desperate to keep funding the largest terrorist funding nation in the world?
Posted by: Herb McCoy   2018-05-19 09:57  

#5  They're looking for ways to protect their money laundering, Ponzi schemes and fraud.

The peasants are poor and have little money. Other means must be found to sustain the ruling oligarchy.
Posted by: Besoeker   2018-05-19 09:55  

#4  P2K, yep.

They're looking for ways to protect their money laundering, Ponzi schemes and fraud.

Never trust a Euro near a nickle.
Posted by: AlanC   2018-05-19 07:32  

#3  Just remember in the 2008 crash how many Euro banks and investments were 'bailed out' with American taxpayer money for the Fannie Mae loses which at the time by law were not guaranteed as with FDIC. They were suppose to lose their shirts. Instead, the American taxpayer got saddled with even more debt. F*em.
Posted by: P2kontheroad   2018-05-19 07:21  

#2  The problem is that European banks have to use the US-dominated international banking system. If they handle money from companies doing business with Iran, then they can’t engage in a wide variety of international transactions. This gives the US immense clout. In February, the US Treasury Department accused, just accused, a major bank in the Baltic states of laundering money for North Korea. Within a week it was in liquidation because depositors fled for fear of having their assets frozen.

European companies are seeing the writing on the wall and moving to limit their exposure on Iran. For instance:
Posted by: g(r)omgoru   2018-05-19 04:27  

#1  Itching for a trade war, Euroweenies? Trump's game.
Posted by: Raj   2018-05-19 00:38  

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