PARIS: European businesses have the most to lose from renewed US sanctions against Iran, analysts said Wednesday, with massive sums at stake for some of the continent's big names. America has, however, a long reach when it comes to forcing foreign companies to comply with its sanctions regime, analysts said, as some big European banks have learned the hard way. France's biggest bank, BNP Paribas, was fined $8.9 billion in 2014 for breaking sanctions against Iran and other countries. - EU's Iran business tripled -The European Union's trade with Iran nearly tripled in under three years, growing from 7.7 billion euros ($9.14 billion) in 2015 to 21 billion euros in 2017. Emma Marcegaglia, head of employers association BusinessEurope, said European companies needed "legal clarity" and were counting on the EU and its member states to assist companies.

Source: Bangkok Post May 09, 2018 13:18 UTC