The United States of America, (U.S.) under the leadership of President Trump, have imposed sanctions on companies doing business with Iran, or that have subsidiaries in Iran. The sanctions will mainly affect companies active in aviation, insurance, shipping, logistics, and especially banking. The European Union has introduced the Blocking Statute compensation mechanism to protect European companies doing business with Iran. The EU has not been able to persuade the U.S. to grant waivers to European firms.
