EU lawmakers condemn illegal US sanctions
Jerome Hughes
Press TV, Brussels
A debate in the European Parliament has heard that the EU is far too dependent on the United States dollar and there is a serious lack of political will when it comes to negating the effects of US sanctions.
Big firms such as Airbus, Peugeot and Citroen want to do business with countries like Iran but are being told by the Trump administration that if they do, they will not be able to trade with the United States.
However, many lawmakers say that EU instruments designed to bypass US sanctions, such as the aforementioned INSTEX and also the so called 'Blocking Statute', are dysfunctional.
Some analysts argue that European Union foreign policy has been very negatively influenced by Washington in recent years and that ultimately it is ordinary, hard-working EU citizens who are paying the price for that.
This is because millions of additional jobs could be created if the EU counteracted US sanctions more effectively. Countries like Iran, Russia and Cuba represent huge markets.
Apparently hypocrisy is rife. For example, the EU and US shy away from imposing sanctions on Israel and Saudi Arabia despite the atrocities these regimes commit against civilians in Palestine and Yemen.
EU lawmakers have expressed hope that the Joe Biden administration will be less aggressive with respect to sanctions. However, they are calling on the EU to quickly develop policies to try and deliver strategic autonomy for the bloc.
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