D66 Press Release - Brussels, 22 August 2012
Dutch Liberal Member of European Parliament Marietje Schaake (D66/ALDE) is worried about the profound effect of US sanctions against Iran on European business. Schaake urges the European Commission to step up its support for European banks and companies: "The EU should promote its own interests and should not accept the disproportionate extraterritorial impact of US legislation on EU trade. The European Union consciously takes a different approach than theUStowardsIran. If we just accept that these USsanctions automatically apply in Europe, then what is the point of having our own Iran policy?"
Legitimate trade
In parliamentary questions MEP Schaake today urged the European Commission to take action. "Recent data shows that US companies benefit from fears in the EU to violate the US Iran sanctions. European exports have dropped, while at the same time American companies have shipped tons of wheat toIran." Because of strict US financial sanctions European banks are reluctant to facilitate trade deals with Iran that are completely legitimate under EU law. Schaake: "It is almost impossible for European companies to do business withIran, while exports of everyday goods like food and medicines are not prohibited." Ms. Schaake believes the EU can bust its own chops and is capable of enforcing sanctions. She thinks it remarkable that US authorities are investigating whether European banks comply with theUSsanctions.
Iranian people
US sanctions, targeted at Iran's nuclear programme, not only harm European business but particularly the Iranian population. Ms. Schaake: "Inflation is very high, food and fuel are scarce. The EU has consistently adopted sanctions directed against the regime. The Iranian people are paying too high a price for the US sanctions." Schaake emphasizes that the EU should not let the civil population down and should try to mitigate the every day effects of the sanctions against the nuclear programme. "In the end it is only the Iranian people that can truly build a freer and less dangerous Iran."
