EU plans to make it illegal for european companies to follow american sanctions against Iran

Discussion in 'Latest US & World News' started by Sobo, May 16, 2018.

  1. Sobo

    Sobo Banned

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    I´m actually impressed that they do this. Its called the nuclear option. It means european companies are banned to follow american sanctions and would be punished if they follow them. If european companies get penalties from USA, those companies would get compensation, which would be taken from counter sanctions against american business.

    In the other field, the EU counters trump again and denies even to negotiate. Trump said he excludes the Eu from tariffs until June 30th and would think about a permanent exclusion of tariffs, if the EU makes concessions towards the USA.

    The EU now announced they dont hold negotiations based on threats and announced counter tariffs aimed at republican owned american business. The proposed tariffs on american products were announced towards the WTO, so they can be put into action.

    EU foreign representative Mogherini said, "With friends like the USA; we need no enemies". The goal is to show that threats, violence and wild west methods dont work.

    https://www.morgenpost.de/politik/a...ungschefs-der-EU-beraten-ueber-Iran-Deal.html

    https://www.focus.de/finanzen/boers...ruhen-aktie-bricht-sofort-ein_id_8937235.html
     
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  2. s002wjh

    s002wjh Well-Known Member

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    so basically EU,Russia and China give Trump the finger back
     
    Last edited: May 16, 2018
  3. Sobo

    Sobo Banned

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    yes and im impressed they really do that. I did not believe they would escalate this to the total break. I´m proud actually.
     
  4. Thedimon

    Thedimon Well-Known Member

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    Cool story.
     
  5. Heartburn

    Heartburn Well-Known Member

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    We'll see.
     
  6. Sobo

    Sobo Banned

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  7. Sobo

    Sobo Banned

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  8. Thedimon

    Thedimon Well-Known Member

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    Baff likes this.
  9. Giftedone

    Giftedone Well-Known Member Past Donor

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    What do you mean "it won't work" ? No matter how much you wish - you have no clue whether or not it will work.
     
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  10. Thedimon

    Thedimon Well-Known Member

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    I do have a clue. It was stated by other posters above why this won’t work.
     
  11. Giftedone

    Giftedone Well-Known Member Past Donor

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    Which post would that be ?
     
  12. Sobo

    Sobo Banned

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    It worked against Bill Clinton and it worked against Bush. 2:0 for our Team. Im sure it will Work now as Well.
     
  13. Baff

    Baff Well-Known Member

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    It won't work because no one gives a **** about EU trade. Not even EU members.
    US trade is worth more to them.

    All this does is make clear the EU's anti American ambitions.
    Put EU squarely in the firing line for WW3.
     
    Last edited: May 17, 2018
  14. Ronstar

    Ronstar Well-Known Member Past Donor

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    good.

    **** Trump and his warmongering policies
     
  15. Talon

    Talon Well-Known Member Past Donor

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    Tough talk, but talk is cheap.

    This comes from a report announcing that the world’s largest oil shipping container firm, Maersk, is withdrawing form Iran...

     
    Last edited: May 17, 2018
  16. Sobo

    Sobo Banned

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    Tomorrow the blocking statue is put into action. From then on it will be illegal to not make business with Iran.
     
  17. Ronstar

    Ronstar Well-Known Member Past Donor

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    good to see the brave Europeans stand up to Trump's crap
     
  18. Talon

    Talon Well-Known Member Past Donor

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    The statute does not force businesses to do business with Iran. From the article quoted above in Post #16:

    Of course, major European firms like Total and Maersk are wisely winding down or canceling their business deals with Iran.

    PS. The "blocking statute" may lead to similar measures in the U.S. by denying comity to European courts and their judgements, which would be a good thing.
     
    Last edited: May 17, 2018
  19. s002wjh

    s002wjh Well-Known Member

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    biggest winner would be china since they buy huge amount of oil from Iran, without EU/US oil company, china will buy oil for less.
     
  20. Talon

    Talon Well-Known Member Past Donor

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    The U.S. will treat China like everyone else who continues to do business with Iran.
     
  21. Giftedone

    Giftedone Well-Known Member Past Donor

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    It will be tough for Europe to not go along with the Sanctions but - they are definitely bucking them.

    The reason it is tough for Europe is because the US can block them from the US financial system - and this is problematic as the global system of payments is in US dollars and thus is routed through the US banking system at some point.

    While you may be right "talk is cheap" there is a far bigger fish to fry here. It is one thing for Trump to declare sanctions, another thing to punish companies that do not abide by the sanctions, a whole other kettle of fish to mess with the global system of payments and use this as a tool to coerce the EU to comply.

    This is where the "Talk is cheap" comment may well be applied to the US and not the EU as this would likely be the straw that breaks the camels back.

    The Chinese have (as of April of this year) floated a new method of payments - the Yuan Petro Dollar - and it is trading well and they will force Saudi Arabia to use this payment system. This is a big ***** in the armor of the US Petro Dollar and status as the sole world reserve currency. It is also a way around US sanctions.

    The IMF/Europe has for years been clamoring for an alternate to the US dollar as the sole world reserve currency. In fact they introduced a method of international payments between nations called SDR's (Special Drawing Rights - basically block chain). This however is only for nations. Individuals and companies can not use this system.

    It is a given that at some point in the future the EU will introduce a direct competitor to the US dollar in the world reserve currency game (the camels back breaking). The last thing we want to do is expedite this process.

    The alternative to using the poison pill - using the global system of payments to club the EU into submission over Iran - is to start a trade/tariff war. We sanction or penalize their companies - then retaliate in kind - and so on.

    This is the stuff US economic nightmare's are made of - Losing sole world reserve currency status.
     
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  22. Thedimon

    Thedimon Well-Known Member

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    You are ignorant. Sometimes you look like you know things, but you don’t.
    That’s my professional opinion, by the way. I have advanced degrees in Finance and business.
    But yeah, continue to write long ignorant posts about things you obviously don’t understand.
     
  23. Giftedone

    Giftedone Well-Known Member Past Donor

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    Thank you for this refreshing and well thought out post. A post where you call me "ignorant" twice - yet manage not to say what I am ignorant of. The only other thing you manage in the above post is appeal to authority fallacy - with you as the supposed authority.

    It is shocking how someone who claims to be educated, could managed to write such an shockingly uneducated post.

    Perhaps I can help. I will type slowly and in baby steps so you should be able to understand.

    An argument consists of two things 1) a statement of claim and 2) evidence or some rational that shows or explains why that claim is true.

    You got the first part - your claim "You are Ignorant .. You are ignorant .. you don't understand" Unfortunately there is no number 2. You give no indication of what it is that I am ignorant of or what I do not understand.

    So enlighten us .. what am ignorant of ?

    The second laughable piece of nonsense in your post was you claiming to have "advanced degrees" in finance and business - which is somehow supposed to support your ignorant claim. Aside from this being logical fallacy - you having those degrees does not prove someone else is ignorant and nor does it prove you are knowledgeable of the subject matter under discussion - if you are indeed knowledgeable in the subject matter then you should have no problem explaining what it is that I am ignorant of/do not understand and point out the mistakes.

    I await your enlightenment :)
     
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  24. Thedimon

    Thedimon Well-Known Member

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    You didn’t get it?
    I’m sorry!
    You think that the US economy is dependent on the status of the USD as main trade and reserve currency throughout the world. You think that because someone explained to you basic supply and demand theory, but didn’t bother to go further and tell you that what drives the USD status is America’s inventions and innovation. You don’t understand that everywhere in the world when someone buys a PC or any advanced piece of electronics a huge portion of the money goes to the USA for processors, semiconductors, IP and software licensing fees. You don’t get it that the US inventions and innovation is what is driving the status of the US currency. And I mentioned just electronics.
    So, when you sit there and make claims about USD reserve currency status impact on the economy I’m just going to point it out to everyone that you are ignorant.
     
  25. Giftedone

    Giftedone Well-Known Member Past Donor

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    While this is a fine strawman - thanks for finally saying what was on your mind - it is not what I said.

    Your claim that I do not understand how innovation helps our economy is preposterous nonsense - what in my post gave you that idea? You need to upgrade your reading comprehension. You are making up falsehoods and attributing them to me.

    I never even mentioned the supply/demand equation but, the idea that supply demand does not effect our economy is beyond rubbish. If there is no demand for our inventions - how does this help drive our economic growth ? If demand for our debt decreases, what happens to interest rates on that debt ?

    I did not say the US economy was "dependent as in wholly dependent" on the status of the USD as the WRC however, the idea that our WRC status does not affect our economy is beyond ignorant.
     

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