The decision signed last week by President Donald Trump to withdraw the United States' signature of the 5 + 1 agreement with Tehran in 2015 put the major European countries in a difficult predicament. Although the US decision was likely, these countries face serious difficulties in dealing with the economic repercussions that have not been prepared, especially the effects on companies operating in the Iranian market. This dilemma is one of the main reasons why the Europeans oppose Trump's decision and their insistence on the continuation of the agreement. The United States will impose sanctions on companies that do not liquidate their business in Iran within three to six months. According to a statement issued by the US Treasury Department, some sanctions will take effect on August 6, while other sanctions will apply to transactions that require longer liquidation on November 4.
Several major European companies will be in the range of sanctions, notably Airbus, which has signed huge contracts with Iran Air and Zagros. Airbus is one of the most sensitive European companies to be affected by any US sanctions for two reasons. First, it has large factories in the United States, and secondly, it relies on some US middleware to manufacture its aircraft. Two major airlines are also facing a setback due to US sanctions, British Airways and Lufthansa, which have resumed their flights to Iran and have forged partnerships with Asian airlines as part of long-term plans.
France's largest oil company, Total, is facing a serious dilemma after signing deals worth about $ 5 billion to develop the Pars field in southern Iran, producing gas from Block 61 in the field for 20 years. Such as Renault, Peugeot and BP. S. Eh, "and" Volkswagen. "
Some European hotel chains are also facing a crisis, especially those that opened new hotels in Iran, such as the French Accor chain and the Spanish chain Melia Hotels International. As well as other companies in different fields, such as Siemens Energy and Orange Telecom.
Because these are all big and influential companies, they influence decision-making in their countries and then in the EU, which explains the expeditious inclusion of the issue of the Iranian nuclear file on the agenda of the Sofia Summit after its completion.
So the attention is drawn to what the Europeans can do to face the economic impasse of the US decision, after the French presidency announced that they will make every effort to protect the interests of their companies operating in Iran.
In addition to these interests, the European countries wishing to maintain the nuclear agreement are looking forward to the continuation of the work of their companies in Iran as an incentive to the ruling regime, which prevents without withdrawing from this agreement, especially after linking the president between the continued commitment to him and get what he called guarantees European.
The first option for these countries is to ask the US president to exempt their companies, or some of them, from trying to convince him not to apply sanctions retroactively, that applies only to companies that deal with Iran after its decision to withdraw from the nuclear agreement.
They may count on a role played by French President Emmanuel Macaron, being the closest European leader to Trump, although he has previously failed to convince him of the usefulness of giving a deadline for seeking a supplementary agreement to address the shortcomings of the agreement.
If McCron fails again, the Europeans may only have to try to provide other incentives to Iran, such as providing them with advanced technology in areas such as renewable energy, nuclear safety and the environment, and creating an independent banking mechanism to fund projects with the European Investment Bank that does not operate in the market American.
Some European countries may also encourage other companies less sensitive to US sanctions on Iran, but most of them will be medium and small, because big companies can not sacrifice the US market.
The success of any attempt to compensate for the liquidation of major European companies in Iran will be highly questionable. That is the essence of the impasse facing Europe today.