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- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
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- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
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- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
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- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
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- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, June 19 - France’s finance minister says Europe has to build independent financial institutions immunized from US penalties which are making business in Iran impossible for European companies.
TEHRAN, Young Journalists Club (YJC) - Most French companies interested in maintaining business in Iran "won't be able to stay because they need to be paid for the products they deliver to or build in Iran,” Bruno Le Maire said Tuesday.
“And they cannot be paid because there is no sovereign and autonomous European financial institution" capable of shielding them, he told BFM television.
President Donald Trump’s decision in May to withdraw the US from an international nuclear deal with Iran left the Europeans scrambling to save the agreement, pledging to protect companies dealing with the Islamic Republic.
However, some major firms such as French oil group Total and carmaker PSA have already been winding down activities in the Middle Eastern country.
International companies dealing with Iran face a 180-day deadline to dismantle their operations in the country before new US sanctions kick in.
Le Maire rebuked the United States, saying it “should not be the planet's economic policeman."
Many European companies have major businesses in the US, which make them vulnerable to the "extraterritorial" US measures because leading banks are linked to the US financial system due to their dollar-denominated transactions.
French automaker Renault has said it will remain in Iran despite the sanctions because it does not sell cars in the United States.
"Our priority is to build independent, sovereign European financial institutions which would allow financing channels between French, Italian, German, Spanish and any other countries on the planet," Le Maire said.
"It's up to us Europeans to choose freely and with sovereign power who we want to do business with," he added.
Source: Presstv
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