May 16, 2018 / 2:50 PM / a year ago

Britain says U.S. sanctions on Iran have wide impact, make third-party trade more difficult

LONDON, May 16 (Reuters) - Britain said on Wednesday that U.S. sanctions against Iran have a clear impact on third-party countries and are making it difficult for firms to assess the risks of doing business there.

“It is clear that there is extraterritorial reach to some of these sanctions,” said Rona Fairhead, a trade department minister in parliament’s upper chamber, adding that Britain was working with the United States to make sure trade ties could still exist.

She said firms always had to assess financial, commercial and legal risks when doing business, but that the U.S. sanctions were making that process more difficult. (Reporting by William James. Editing by Andrew MacAskill)

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