British Official: Trade With Iran Difficult
LONDON (Reuters) -- Britain said Wednesday that U.S. sanctions against Iran have a clear impact on third-party countries and are making it difficult for firms to assess the risks of doing business there.
"It is clear that there is extraterritorial reach to some of these sanctions," Rona Fairhead, a trade department minister in parliament's upper chamber, said, adding that Britain was working with the United States to make sure trade ties could still exist. She said firms always had to assess financial, commercial and legal risks when doing business, but that the U.S. sanctions were making that process more difficult.
"It is clear that there is extraterritorial reach to some of these sanctions," Rona Fairhead, a trade department minister in parliament's upper chamber, said, adding that Britain was working with the United States to make sure trade ties could still exist. She said firms always had to assess financial, commercial and legal risks when doing business, but that the U.S. sanctions were making that process more difficult.