The country’s top economist said Washington’s protectionist policies were penalising America’s European allies and favouring other world powers, such as China.

Mr Le Maire told the French conservative daily Le Figaro: “The President of the Republic has been very clear: [France] wants to maintain the accord with … We are determined to do whatever it takes to save this accord. The battle will be difficult, but we will fight it.”

Under the accord signed by the United States, as well as , Britain, Germany, Russia and China in 2015, Iran agreed to limit its nuclear activities and allow international inspectors to visit in exchange for the lifting of crippling economic sanctions.

However, earlier this month President announced Washington was pulling out of what he described as a “decaying and rotten deal,” reimposing tough sanctions on Tehran and pushing the landmark agreement to the brink of collapse.

Donald Trump

The US could not continue to act as the world’s ‘economic policeman’, says France’s finance minster

[France] wants to maintain the accord with Iran

Mr Le Maire added France wanted to keep the current deal in place for both security and economic reasons.

He said: “The first reason is security-related: the accord prevents Iran from developing a nuclear weapon. 

“The second reason is economic: economic relations with Iran have developed considerably since 2015. 

“French exports to Iran have increased from 500 million euros (£437 million) to 1.5 billion euros (£1.3 billion) since the accord was signed.

“This is why we wish to preserve the accord: we need to safeguard the contracts signed between French and Iranian companies and make sure that France and other European countries are able to carry on doing legitimate business with Iran, as stated by the terms of the deal.

“[US] extraterritorial economic sanctions [on Iran] are not acceptable.

“The United States do not need to act as the world’s economic policeman.”

On Sunday, Mr Trump’s National Security Advisor, John Bolton, if they carried on doing business with Tehran, further irking the deal’s European signatories.

French finance minister Bruno Le Maire

French finance minister Bruno Le Maire wants to save the Iran nuclear deal

Mr Le Maire said: “Extraterritorial sanctions are not just a weapon of dissuasion, they are a weapon full stop. They destroy value, wealth and jobs in companies that do business with the states targeted by the sanctions.

“Our aim is to be free to make our own decisions and to play as equals with the Americans… We want a sovereign Europe. [The deal’s European signatories] need to stay united to make the Americans shift position and to defend Europe’s interests… It’s a question of political will.”

France’s finance chief also said that Mr Trump’s protectionist trade policies were hurting his European allies the most.

He said: “Whether it’s the steel and aluminium trade tariffs or the [Iran] extraterritorial sanctions, the irony is that Donald Trump is penalising his closest allies, European countries, and favouring China.”

post source

Leave a your comments