Europe is scrambling to come up with a contingency plan in the face of a U.S. threat to end the nuclear deal with Iran—a move that lends a high level of uncertainty to European megadeals, including French Total SA’s $5-billion oil deal with Tehran. At stake if Trump refuses to certify Tehran’s compliance with the nuclear accord on 15 October and sanctions are re-imposed are deals with European companies worth over $55 billion in total, according to figures from the Financial Times . If Trump refuses certification on 15 October, Congress would then have 60 days to make a decision on new sanctions, giving Europe two months tome come up with a contingency plan. Right now, there isn’t one. “People in Brussels are looking at whether blocking statutes need to be upgraded or updated,” David O’Sullivan, EU ambassador to the US, told the Financial Times on Thursday. “There’s no […]