US rejects French request for Iran exemptions
The United States has rejected a French request for waivers for its companies operating in Iran that Paris sought after President Donald Trump imposed sanctions on the Islamic Republic, French Finance Minister Bruno Le Maire told Le Figaro.
Paris had singled out key areas where it expected either exemptions or extended wind-down periods for French companies, including energy, banking, pharmaceuticals and automotive.
French officials had expressed little hope for securing the waivers, which were critical for oil and gas major Total to continue a multi-billion-dollar gas project in Iran and for car-maker PSA Group to pursue its joint venture.
"We have just received Treasury Secretary Steve Mnuchin's response: it's negative," Mr Le Maire told Le Figaro in an interview published on Friday.
Mr Le Maire said Europe needed to react quickly and protect its economic sovereignty."Europe must provide itself with the tools it needs to defend itself against extra-territorial sanctions," Mr Le Maire added.
Washington announced in May it was imposing new economic penalties on Teheran after pulling out of a multilateral 2015 agreement, under which Teheran had agreed to curb its nuclear activities in return for sanctions relief. Mr Trump's sanctions are aimed at pressuring Iran to negotiate a new agreement to halt its nuclear programs.
