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The second package of US sanctions against Iran, which will affect the oil industry and transactions of the Central Bank of Iran, enters into force on November 5 this year. At the same time, in the European Union, which intends to protect the interests of European companies in Iran, the “blocking status” came into effect on August 7, prohibiting EU companies from observing the action of American sanctions. The status allows European companies to reimburse losses arising from such sanctions from the person calling them, and also annul the influence in the European Union of any foreign judgments based on them. The Financial Times, referring to a source in the US State Department, writes that if European companies refuse to comply with US sanctions against Iran, they will not have access to the US financial system and they will not be able to use the US dollar.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
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