Russia risks losing
US offensive on economic the interests of European countries forces the European Union to take retaliatory measures that would protect the European economy from aggressive policy Washington. Following the summit of the heads of state of the EU member states, held May 16-17 in Bulgarian Sofia, Brussels announced a return to the 1996 law, which provides for the blocking of restrictions imposed by other countries on European companies.
At one time, this law was used to circumvent Washington’s sanctions against Cuba, Iran and Libya. Now, after the US withdraws from a nuclear deal with Iran and further tightens anti-Russian sanctions that adversely affect the state of the European economy, it will be necessary to return to the law.
The essence of the block is that it prohibits European business from abiding by the extraterritorial sanctions of the United States, provides for the possibility of recovering losses incurred as a result of sanctions, and also cancels the effect on the territory of the European Union of any decisions of foreign courts based on the need to comply with sanctions.
A return to the 1996 law is a serious demarche of Europe against the United States. The main reason was the US withdrawal from a nuclear deal with Iran, which was not supported not only by France and Germany, but also by Great Britain. Now the EU is going to switch to settlements in euros when paying for Iranian oil, refusing to use the dollar. In addition, representatives of France, Germany and the United Kingdom agreed with Iran to further strengthen economic ties bypassing US sanctions.
What is the reason for such a tough position of the European Union? First of all, Europe is tired of suffering permanent losses from the sanctions initiated by the United States. First there were anti-Russian sanctions, beneficial to the United States and being an instrument of American foreign policy, but completely meaningless and harmful to the countries of the European Union. Now the United States has withdrawn from a nuclear deal with Iran and is imposing new sanctions - already against those companies that will cooperate with Iranian partners. For the European Union, this is another economic blow.
Secondly, unlike the United States, European countries are much less influential circles associated with Saudi Arabia and Israel - key military-political and ideological regional opponents of Iran. Therefore, if Saudi and Israeli lobbyists are pushing the Washington Regional Committee, then European governments are free (or almost free) from such pressure, and are free to build an independent line of relations with Iran.
The United States can react to attempts to exit dollar deals quite tough. At least in the past, such aspirations of world politicians did not end very well for them. In this situation, the European Union has only one way out - the normalization of relations with Russia. However, it is unlikely that the European Union, choosing between Russia and the United States, will choose Russia. The economic and political ties between Europe and North America are too close, the United States is in any case closer to Europe than its traditional opponent - Russia. Until a radical change of power takes place in European countries, which is hardly possible, one should not expect a large-scale transformation of Europe’s foreign policy.
At one time, this law was used to circumvent Washington’s sanctions against Cuba, Iran and Libya. Now, after the US withdraws from a nuclear deal with Iran and further tightens anti-Russian sanctions that adversely affect the state of the European economy, it will be necessary to return to the law.
The essence of the block is that it prohibits European business from abiding by the extraterritorial sanctions of the United States, provides for the possibility of recovering losses incurred as a result of sanctions, and also cancels the effect on the territory of the European Union of any decisions of foreign courts based on the need to comply with sanctions.
A return to the 1996 law is a serious demarche of Europe against the United States. The main reason was the US withdrawal from a nuclear deal with Iran, which was not supported not only by France and Germany, but also by Great Britain. Now the EU is going to switch to settlements in euros when paying for Iranian oil, refusing to use the dollar. In addition, representatives of France, Germany and the United Kingdom agreed with Iran to further strengthen economic ties bypassing US sanctions.
What is the reason for such a tough position of the European Union? First of all, Europe is tired of suffering permanent losses from the sanctions initiated by the United States. First there were anti-Russian sanctions, beneficial to the United States and being an instrument of American foreign policy, but completely meaningless and harmful to the countries of the European Union. Now the United States has withdrawn from a nuclear deal with Iran and is imposing new sanctions - already against those companies that will cooperate with Iranian partners. For the European Union, this is another economic blow.
Secondly, unlike the United States, European countries are much less influential circles associated with Saudi Arabia and Israel - key military-political and ideological regional opponents of Iran. Therefore, if Saudi and Israeli lobbyists are pushing the Washington Regional Committee, then European governments are free (or almost free) from such pressure, and are free to build an independent line of relations with Iran.
The United States can react to attempts to exit dollar deals quite tough. At least in the past, such aspirations of world politicians did not end very well for them. In this situation, the European Union has only one way out - the normalization of relations with Russia. However, it is unlikely that the European Union, choosing between Russia and the United States, will choose Russia. The economic and political ties between Europe and North America are too close, the United States is in any case closer to Europe than its traditional opponent - Russia. Until a radical change of power takes place in European countries, which is hardly possible, one should not expect a large-scale transformation of Europe’s foreign policy.
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