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May 18, 2018 www.intellinews.com
EU set for clash with US over law blocking Iran sanctions
bne IntelliNews
The EU is to revive a ‘blocking statute’ used in the 1990s to protect businesses working in Cuba to shield European companies that wish to continue doing business with Iran from US sanctions.
The move, announced on May 17 following a summit of the European bloc’s member state leaders in Sofia, means an inevitable clash
Bulgaria to revive Belene nuclear power project
Denitsa Koseva in Sofia
Bulgaria’s government decided on May 16 to formal- ly ask parliament to unfreeze the plan to build the Belene nuclear power plant, and says it will seek a strategic investor, trying to avoid the need for a state guarantee.
Denmark’s A P Moller-Maersk Tankers is one of the big European companies already winding down its Iran business with sanctions on the horizon.
with the Trump administration, which on May 8 unilaterally walked out of the multilateral Iran nuclear deal and warned foreign companies that chose to remain involved with the Islamic Republic that they would be exposed to Washington’s reintroduction of heavy sanctions against Tehran.
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Bulgaria's second nuclear power plant is due to be built on the Danube, which marks Bulgaria's border with Romania.
Plans to build the Belene power plant were scrapped in 2012, but Sofia was forced to reconsider after Bulgaria was ordered to reimburse over €600mn to Russia’s Atomstroyexport, which had won the con-
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