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EU acts to protect firms from U.S. sanctions against Iran
“European firms have been instructed that they should not comply with demands from the White House for them to drop all business with Iran. Those who decide to pull out because of US sanctions will need to be granted authorisation from the European commission, without which they face the risk of being sued by EU member states.”
[The Guardian]

ASEAN, EU close ranks in face of trade war threat
EU foreign policy chief Federica Mogherini “voiced hope that bilateral trade accords the EU is negotiating with several ASEAN states ‘will be the stepping stone towards a future region-to-region deal.’”

French ports cut out of EU trade route after Brexit
“The Commission on Wednesday adopted a proposal to revise the routing of one of its strategic transport corridors to connect Dublin and Cork with the Belgian ports of Zeebrugge and Antwerp and the Port of Rotterdam in the Netherlands, to channel trade directly from Ireland to mainland Europe after Brexit.”

More Western sanctions will be seen as ‘economic war’, Moscow warns

Middle East

U.S. reviewing Turkey’s trade preferences after tariff retaliation
“The U.S. Trade Representative’s office said the review could affect $1.66 billion worth of Turkish imports into the United States that benefited from the GSP program last year, including motor vehicles and parts, jewellery, precious metals and stone products.”

Turkey should insist on updating EU customs deal, business official says
“The Customs Union between Turkey and the EU came into force on Dec. 31, 1995. It covers all industrial goods but does not address agriculture (apart from processed agricultural products), services or public procurement.”
[Hurriyet Daily News]


UAE plans oil pipeline from Ethiopia to Eritrea 
“Landlocked Ethiopia began extracting crude oil on a test basis from reserves in the country’s southeast in June and will need access through Eritrea in order to export it.”