US Warns Allies and Partners About Economic Relations with Iran

The United States Treasury Department has warned its allies, partners, and the private sector that Iran is attempting to exploit them to secure funding for its 'malicious activities.' Sigal Mandelker, the Deputy Secretary of the Treasury, stated in a speech on Tuesday, June 5, that 'You must strengthen your economic networks and ask your companies to make greater efforts to avoid falling into the trap of Iran's deceptive network. You must clearly express the many risks that trade with companies and individuals in Iran entails.' She added, 'I say this to the private sector. I urge you to take additional steps to ensure that Iran and its affiliated networks do not exploit your companies to carry out their malicious actions.' Donald Trump, the President of the United States, withdrew from the nuclear agreement between world powers and Iran on May 8, which was aimed at limiting the Islamic Republic's nuclear activities. He also announced that trade sanctions against Tehran and other countries that continue to trade with Iran would be reinstated. Mandelker, referring to the President's directive, told US trading partners, 'The Iranian government deceives your companies, undermines the integrity of your economic system, and puts your institutions at risk of powerful sanctions. All of this is due to terrorism, human rights violations, and terrorist groups.' She added, 'You must be prepared for such actions in advance and prevent them because Iran continues to seek ways to exploit your companies and countries.' Finally, Mandelker stated, 'We are imposing unprecedented economic pressure on Iran. Our powerful economic authorities will leave Iran with one choice: to abandon its unacceptable support for terrorism, cease activities that destabilize the region, and stop human rights violations. Otherwise, it will fall into economic ruin.' Contrary to the Trump administration, Europe emphasizes maintaining the nuclear agreement with Iran, but the economic dependence of European companies on the US market has created many uncertainties regarding the future of these companies' contracts with Iran, especially as some institutions, like the Swiss BCP Bank, have immediately cut their financial ties with Iran, complicating matters further. Iran claims that the EU's political support for this agreement is 'not enough' and that the union must 'take more practical steps.' In this context, Iranian and European diplomats have entered negotiations to find a solution to this dispute.