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US Termination of the Iran Agreement: Major Effects on Austrian Exports Expected

Published: May 17, 2018; 21:40 · (Vindobona)

The Austrian Federal Economic Chamber fears that the Trump decision will have a massive negative impact on the Iran business of Austrian companies. It will probably be extraordinarily difficult in the future to establish the necessary payment channels for legitimate transactions.

US Termination of the Iran Agreement: Major Effects on Austrian Exports Expected / Picture: © Vindobona

On May 8, 2018, US President Trump terminated the so-called "Vienna Agreement" (Joint Comprehensive Plan of Action JCPOA), which largely eased Iranian sanctions.

This agreement was concluded in July 2015 between the United States, Germany, France, Great Britain, Russia, China and Iran and declared valid worldwide by the UN Security Council. It provided for a gradual…

This article includes a total of 665 words.

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