For years, international sanctions have shut Iran out of the global banking system. Now that the isolation is over, the country must find a way to integrate into the financial world.
The US said it would impose "unprecedented financial pressure on Iran." The refusal to grant EU businesses an exemption for Iran sanctions pushes Europe and the US further down a collision course over ties to Tehran.
The French shipping giant CMA CGM has pulled out of doing business with Iran for fear of antagonizing the US. Iranian President Hassan Rouhani has called on European countries to do more to offset renewed US sanctions.
The EU has been leading the efforts to salvage the nuclear deal with Iran following the US withdrawal from the international agreement. But the threat of imminent US sanctions is already having an impact on Iranians.
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