It’s not hard to make the European leadership look like fools, and Trump seems to excel at it. From John Laughland at rt.com:
On the day Trump announced that he was ripping up the Iran deal, and that the US would impose sanctions on European companies trading with that country, the French finance minister Bruno Le Maire said that European states refused to be treated like “vassals” of the US.
At Aachen on 11 May, Emmanuel Macron effectively accused the US of blackmail. On 17 May, the president of the European Council, Donald Tusk, asked, “With friends like that (i.e. Trump), who needs enemies?”
The temperature only rose further when the French energy giant Total announced that it would pull out of a multi-billion dollar gas deal with Iran unless European diplomacy succeeds in obtaining a specific waiver from US sanctions. Other European behemoths including Allianz and Siemens have also announced either that they will wind down operations in Iran or that they will not start any new ones.
These statements show that Trump’s decision is a slap in the face for the EU politically, economically and – perhaps above all – ideologically. Politically, because both Emmanuel Macron and Angela Merkel made special trips to Washington to plead with Trump, to no avail whatever. Moreover, the EU is itself a signatory to the Iran deal, which it regards as a major diplomatic triumph from which it draws credibility: its disavowal by Trump is a deep insult to the diplomatic status of the EU as such.
Economically, because of the gigantic contracts which European companies could lose. For years, following the nearly $9 billion fine imposed by the US on Paribas in 2015, European companies and banks have been terrified of engaging in any business activity likely to attract the ire of the Americans. Deals with Russia, for instance, are shunned. The effect of this latest decision could be like many Paribas situations at once.
To continue reading: With Iran sanctions Trump made Europeans look like the fools they are