European companies have invested heavily in Iran’s energy sector The US has rebuffed high-level pleas from the European Union to grant exemptions to European companies from its sanctions against Iran. In a letter to European nations, Secretary of State Mike Pompeo said the US rejected the appeal because it wants to exert maximum pressure on Iran. It said exemptions would only be made if they benefited US national security. The EU fears that billions of dollars’ worth of trade could be jeopardised as a result of Washington’s new sanctions. The impact of Iran sanctions Winners and losers as Trump quits Iran deal The EU’s billion-dollar deals at risk “We will seek to provide unprecedented financial pressure on the Iranian regime,” the letter, which was also signed by Treasury Secretary Steven Mnuchin, said, according to NBC news. It added that the US is “not in a position to make exceptions […]