May 18, 2018 / 9:51 AM / a year ago

EU's Iran sanctions blocking law could harm German firms in U.S.: BDI

BERLIN (Reuters) - The European Commission’s plans to activate a law that bans European companies from complying with U.S. sanctions against Iran could have a significant impact on German companies operating in the United States, the BDI industry association said on Friday.

BDI President Dieter Kempf said in a statement that U.S. President Donald Trump’s decision to pull out of the Iran nuclear deal created significant legal uncertainty for German companies.

“The U.S. president’s Iran strategy is at the expense of the European economy,” Kempf said.

Reporting by Noah Barkin and Joseph Nasr; Editing by Susan Fenton

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