Economics

Iran Sanctions at Risk If Congress Stops a Deal, EU Envoys Say

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Sanctions against IranBloomberg Terminal’s economy are likely to erode if talks to curb Iran’s nuclear program fail or U.S. lawmakers try to block an international agreement, according to the U.K. and German envoys to Washington.

“You’re already seeing a number of countries which of course don’t respect the embargo on oil,” U.K. Ambassador Peter Westmacott said Tuesday, referring to half a dozen economies with an exemption from U.S. sanctions that lets them import Iranian crude, as well as companies that have sought to evade bans on trade.