The European companies are eying to participate in Iran mine industry sector and are trying to bypass US unilateral sanctions, senior Iranian expert in mine and steel field said.
European firms after joining Iran mine sector
They are attempting to take advantage of the obstruction law to stay in Iran, Keyvan Jafari Tehrani told the Islamic Republic News Agency (IRNA) on Tuesday.
Referring to US unilateral withdrawal from Iran nuclear deal and also the obstruction law, he said Germany has strongly announced its readiness to stand against US.
US President Donald Trump announced on May 8 that Washington would pull out of Iran nuclear deal and reinstate nuclear sanctions on Iran.
The obstruction law prohibits EU companies’ compliance with US foreign sanctions and allows corporations to compensate for the loss inflicted on them.
The European companies are expected to continue their engagement in Iran based on joint ventures, Tehrani said.
Pointing to China as the biggest buyer of Iran iron ore, he said at least 90% of Iran iron ore are being exported to China.
Source: IRNA