Posted on 05/09/2018 7:25:59 AM PDT by Oldeconomybuyer
LONDON - President Donald Trump’s decision to pull out of the Iran nuclear deal has left foreign firms with a choice: Stop doing business in Iran or run the risk of U.S. sanctions.
Multinational companies have billions of dollars tied up in Iran.
In 2016, the European Union exported more than $9.7 billion worth of goods to Iran, while importing almost $6.5 billion from there, according to the European Commission.
But Richard Grenell, the U.S. ambassador to Germany, warned firms that continuing to do business there would have consequences.
“U.S. sanctions will target critical sectors of Iran’s economy. German companies doing business in Iran should wind down operations immediately,” he tweeted Tuesday night.
The Treasury said there will be a “wind-down period” of 90 to 180 days to allow companies to complete transactions with Iran to avoid future U.S. sanctions.
However, the Treasury warned that sanctions will come back into full effect after this grace period.
On Aug. 6, the U.S. government will re-impose sanctions on activities such as the acquisition of U.S. dollar banknotes by the Iranian government, Iran’s trade of gold and precious metals and the country’s automotive sector.
On Nov. 4, the U.S. will re-impose sanctions on other activities including Iran’s oil and shipping industries and its energy sector, as well as on transactions by foreign financial institutions with the Central Bank of Iran.
(Excerpt) Read more at nbcnews.com ...
Take this job and shove it.
““U.S. sanctions will target critical sectors of Iran’s economy. German companies doing business in Iran should wind down operations immediately,” he tweeted Tuesday night.”
The Germans would sell gas chambers to the Iranians if they were wanting them. When you purchase Bayer Aspirin, remember Bayer made the gas for the Nazi’s in WWII!
$$$
“Germany to US: We’re ready for your sanctions and we’re staying in Iran”
https://global.handelsblatt.com/companies/germany-us-ready-sanctions-iran-920613
The US ambassador to Germany called on companies to leave Iran immediately. But German companies, which have a long history in the country, have been preparing for this moment for months, effectively cutting the US out of any Iran-related business.
snip
“We’re not shocked,” he told Handelsblatt. “For some time now, companies doing business in Iran have been trying to find substitutes for any US-related aspects of their supply chains.” For example, European companies in Iran do not work with dollars at all; they prefer euros or perhaps dirhams. “Any US staff members are excluded from Iran-related business,” Mr. Tockuss noted. “There have been a wide variety of preparations and many companies have been building a fence around their Iran business.”
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