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Washington’s move to impose sanctions on Iran worries German companies

The US Secretary of State pledged that his country would impose sanctions on Iran after Washington withdrew from the nuclear deal with the “Islamic Republic”, while German industrialists expressed their deep concern over the sanctions.

US Secretary of State Mike Pompeo was asked on his way back from Singapore to Washington if Tehran could circumvent the measures. “The United States will impose sanctions,” he told reporters accompanying him. The Iranian government will not be able to buy US banknotes, and broad sanctions will be imposed on Iranian industries, including carpet exports.

Bombayo said the escalation of pressure on Tehran was aimed at “keeping away the malicious activities of Iran,” adding that the Iranians “are unhappy with the failure of their leadership in carrying out the economic promises made to them.” “The Iranian people are unhappy, not with the Americans, but with their leadership.”

“The president was very clear that we want the voice of the Iranian people to be strong in choosing their leadership,” he said. The United States withdrew in May from the nuclear deal with Iran signed in 2015 and will re-use “maximum pressure” by imposing sanctions on most sectors as of August 7 and the energy sector from November.

In a related context, the German industrial sector was very concerned about the US sanctions against Iran as of Tuesday. “The sector welcomes the clear will of the European Union and the German government to defend themselves in the face of the United States’ extraterritorial sanctions policy,” said Dieter Kampf, president of the Association of German Industry Companies. “In order to create incentives for the continuation of the agreement, it is primarily necessary to maintain payment transactions with Iran,” Kempf said. “The industry association supports the German government in its efforts to ensure fair competition rules for businesses in Iran.”

He described the European Commission’s use of the so-called “blocking status” to protect European companies from US sanctions as an important political signal, adding that “possible side effects should be considered in order not to harm European companies.” It should be noted that the Commission had announced on Friday the beginning of measures to block the sanctions to protect the activities of European companies in Iran, the UNHCR said in a statement that “launched the official process to activate the status of blocking the basis by updating the list of US sanctions on Iran.”

The commission said the measures would come into effect within two months unless formally rejected by the European Parliament and EU governments but could be activated more quickly if strong political support was available. The United States threatens to impose sanctions on financial institutions that directly or indirectly support financial transactions with Iranian institutions and have already tightened payment transactions with Iranian banks.