The decision by the United States of America to renege on its responsibilities agreed in the JCPOA (Joint Comprehensive Plan of Action), once again leaves companies all over the world open to economic sanctions from the USA should they do business with Iran.
The United States of America is the only signatory of the JCPOA which has decided to renege, all other signatories (China, Russia, France, United Kingdom, Germany, Iran and the European Union) all maintain that the agreement is valid. Therefore, the policy of the USA is in conflict with the policies of these countries. It makes no sense therefore that these countries would accept that the USA impose sanctions on companies who continue to do business with Iran.
A lack of action on the part of the other signatory countries is tantamount to supporting the position of the United States of America: something which they have publicly stated they do not.
The United States of America has set the bar for its standard: you do not do business with someone with whom you disagree. Maybe therefore European companies should not be allowed to do business with the USA… the European Union is after all the single largest economic market in the world; it should be hard to ignore!
So we (32% of the population) want independence from the EU so that we can maintain our own “sovereignty”, yet Donald J Trump, (who did not even get a majority of the public vote in his own country) can dictate our trade policy from the USA – without reference to our political leaders who were fairly elected and our business leaders who are responsible to their shareholders.
Could it be that he doesn’t like any trade his competitors might do that could have been transacted by the USA – hypocrisy, if only he could spell it!