The European League says new measures are ready to take effect to protect European professions from the impact of U.S. sanctions on Iran.
The measures aim to save an agreement desired at curbing Iran’s nuclear ambitions after the U.S abandoned the pact. The EU influences the pact is important for global security and is trying to keep economic and economic supply lines to Tehran open.
The EU’s executive Commission said Monday that the misdesignated “blocking statute” will take effect beginning at midnight Washington later (0400 GMT Tuesday).
The mechanism stops European companies from submitting with the U.S. sanctions unless they have authorization from the Commission.
It also hampers the effects of U.S. court actions in Europe and allows European firms to return damages arising from the sanctions from anyone who causes them.