HARDBALL: US rejects EU plea for sanctions exemption.

Some of Europe’s biggest firms rushed to do business with Iran after the nuclear deal was implemented two-and-a-half years ago.

In 2017, EU exports to Iran (goods and services) totalled €10.8bn (£9.5bn; $12.9bn), and imports from Iran were worth €10.1bn.

Last month, ministers from the UK, France and Germany wrote a letter to Mr Pompeo and Mr Mnuchin saying that persevering with the existing nuclear deal was the “best basis on which to engage Iran” and address President Trump’s concerns.

The ministers warned against taking actions that could prevent EU member states from continuing to abide by their commitments under the nuclear deal.

That included imposing “secondary sanctions” on European companies and individuals doing business in Iran, particularly those involved in the pharmaceutical, healthcare, energy, automotive, civil aviation and banking sectors.

Mr Pompeo and Mr Mnuchin formally rejected the request for exemptions in a letter to European ministers that was leaked to the media on Sunday night.

Well, good.