The European Union, France, Germany and United Kingdom have asked the United States not to impose sanctions on EU-based companies over Iran. A letter signed by eight European officials that was published Wednesday asks the Trump administration to allow EU companies to continue doing business with Iran. Related: EU fights back to neutralize US sanctionsThe US sanctions prevent American companies from doing business with Iran. The US Treasury also plans to enforce "secondary sanctions" that would impact European companies, effectively stopping them from doing business in the country. Related: US sanctions deal body blow to Iran's economySome European companies have already determined that the risk of doing business in Iran is too great.

Source: CNN June 06, 2018 13:18 UTC