The New York Times reports: With the completion of the nuclear deal with Iran and the opening of its market, European businesses expected a trade bonanza.
But three months after the lifting of many sanctions against Iran, there is growing frustration among European politicians, diplomats and businesspeople over the inability to complete dozens of energy, aviation and construction deals with the Iranians.
The main obstacle, the Europeans say, is their ally, and the driving force behind the historic nuclear agreement, the United States. Wary of running afoul of new sanctions imposed by Washington over Iran’s missile program and accusations that Iran sponsors terrorism, European banks are refusing to finance any of the deals, effectively perpetuating Iran’s isolation from the global financial system.
Europeans also point to new American visa regulations that make it more difficult for them to enter the United States if they have traveled to Iran. Those financial and travel restrictions, they say, make it nearly impossible to reach agreements with their Iranian counterparts. [Continue reading…]