EU braces for secondary U.S. sanctions

EU companies face secondary sanctions from the White House over trade
deals with Iran. Secondary sanctions cut off foreign businesses from the U.S. financial system, making them unattractive business partners

EU-Iran trade in goods (€ billions)      EU imports      EU exports

Aug 6, 2018: U.S. sanctions take effect after 90-day “wind-down” period

2007: U.S. and UN Security Council impose sanctions on Iran

2011: UK and Canada announce bilateral sanctions on Iran

2012: EU adopts oil embargo on Iran over its nuclear programme

2015: Iran with Britain, China, France, Germany, Russia and U.S. reaches nuclear deal

2007   14.1   10.1  24.2
2008   15.9   11.3  27.2
2009    9.4   10.4  19.8
2010   14.5   11.3  25.8  
2011   17.3   10.5  27.8
2012    5.7    7.4  13.1
2013    0.8    5.4   6.2
2014    1.2    6.4   7.6
2015    1.3    6.5   7.8
2016    5.5    8.2  13.7 
2017   10.1   10.8  20.9

Source: European Commission © GRAPHIC NEWS