Europe mulls effect of new U.S. sanctions against Iran

European leaders struggled Friday to come up with a unified response to U.S. President Donald Trump’s decision to pull out of the Iran nuclear deal and impose additional sanctions on the Islamic republic. Under the new restrictions, companies must stop doing business with Iran or risk U.S. fines. The sanctions also target business finances: Companies that don’t cut ties with Iran won’t be allowed to do business with U.S. banks. Europe has the most economic ties with Iran. French officials chafed at the United States setting rules for the entire world. “Do we want to be vassals who obey decisions taken by the United States while clinging to the hem of their trousers?” French Finance Minister Bruno Le Maire asked. “Or do we want to say we have our economic interests, we consider we will continue to do trade with Iran?” German Chancellor Angela Merkel struck a more cautious tone: “This is a serious event, we have to say that, but it is not a reason to call into question the entire trans-Atlantic partnership.” European leaders plan to meet next week to discuss their next moves. After Trump announced the United States would pull out of the 2015 nuclear accord, Iranian leaders said the remaining signatories had a “short window” to figure out a way to save the deal. Under the terms of the agreement, which critics called too lenient, Iran agreed to postpone its nuclear program in exchange for sanctions relief.