Esproenko International’s PR manager Carlos Toledo explained that the company had started working with Iran in 2013, “when sanctions on the Islamic Republic were imposed by all sides, namely, the European Union and the United States.”
“We had no competition on the Iranian territory at the time, which prompted us to enter this market,” he pointed out.
However, he added, the company had to face “huge competition” in 2015 and minimize its activities when the anti-Iranian sanctions were lifted.
Now that Washington has tried to stifle the Iranian economy and has warned European and U.S. companies against conducting trade with Tehran, Esproenko International perceives all this as a new opportunity.
“Now we are considering the resumption of activities at a higher level. So far, the EU has not adopted any sanctions against Iran. And what the U.S. is saying is its own problem, not ours,”.
He added that the company had not received any threats, and even if it did, it would have ignored them.
“Nobody tells us what we can or cannot do, so we do what we want,”.
The European Union has pledged to resist U.S. sanctions on Tehran by implementing legislation allowing European businesses not to comply with U.S. measures against Iran, by, in particular, trading in non-dollar denominated currencies, so they do not risk being penalized by Washington.
However, large European companies such as French oil giant Total and French carmaker Renault have suspended plans to invest in Iran after the first wave of U.S. sanctions against Iran came into effect on August 7.
The second phase of sanctions is likely to be reintroduced in November as part of U.S. President Donald Trump’s decision to withdraw from the 2015 Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA).
Trump announced Washington’s pullout from the JCPOA in early May, pledging to reinstate anti-Iranian sanctions, including those barring other countries from doing business with the Islamic Republic
Kristina Taylor is a highly knowledgeable journalist who has been following the financial news and cybercrimes space since 2011. She holds a degree in communication and media studies from Aarhus University and has always had a passion for writing.
Throughout her career, Kristina has become a well-traveled journalist within the industry and has contributed to many well-known publications. She has a keen eye for detail and is often found poring over white papers to gain deeper insights into the latest trends and developments.
Kristina’s extensive knowledge and experience in the field of finance and technology make her an invaluable contributor to Financial Magazine. She is highly respected in the industry and is known for her ability to break down complex concepts into easy-to-understand pieces for her readers.
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