These moves have mostly been symbolic. Trade with all large European companies, from Total to Peugeot has been ceased. Also, no European bank has been willing to trade with Iran under the threat of U.S fines.
> And there's an EU venture to replace US institutions in Iran-bound financial transactions
Good gesture, but also symbolic. In practice, the new mechanism is mostly a gesture towards U.S for its unilateral sanctions, than a vehicle to enable trade with Iran.
Edit: typo
Does something in all this need to give? Yes, definitely. Presumably, the US will shy away from trying to enforce. If not, US courts are actually somewhat likely to uphold long-standing precedents in international law, because the only other possible outcome is a completely unworkable quagmire going forward where no company could simultaneously operate in the EU and the US.
The only meaningful thing for the EU to do would be to retaliate by sanctioning US companies and freezing US assets to compensate for the effect of the US sanctions. Which would mean full scale economic war and sanctions on the US, something the EU of course cannot afford.
If I recall, the US had to do something like that back in 1776, and Germany had to have some assistance in it back in 1939-41.
Growing pains.
Modernization can happen, but only if it's not visibly pro US.
On the contrary:
In August 2013, sixty years afterward, the U.S. government formally acknowledged the U.S. role in the coup by releasing a bulk of previously classified government documents that show it was in charge of both the planning and the execution of the coup, including the bribing of Iranian politicians, security and army high-ranking officials, as well as pro-coup propaganda. The CIA is quoted acknowledging the coup was carried out "under CIA direction" and "as an act of U.S. foreign policy, conceived and approved at the highest levels of government".
Very similar to what happened with Vietnam and the Diem regimen.
No, it (and the British who actually started trying to pull off a coup first) paid people and deployed propaganda from multiple different angles, and including false flag operations, to energize multiple, mutually antagonistic factions in order to destabilize the Mossadegh regime; a lot of the anti-Mossadegh opposition was organized crime groups paid by the CIA to put up a front as political opposition. They didn't care about the politics; they did care about the money.
Heck, even the Shah—the monarch who superficially seized total power in the coup—was opposed until the CIA threatened to depose him as well if he didn't go along.
https://www.foreignaffairs.com/articles/europe/2018-10-10/eu...
In the end big evil bullys always get there way.
Europe was the only party that ever had /any/ power. The US did not have much of an economic relationship with Iran to begin with. Therefore, their sanctions were mostly symbolic. It was EU sanctions that eventually forced Iran to the negotiating table and made the nuclear deal possible. As the article shows, the US has the power to be cruel. But the price being paid is humanitarian, not economic.
Accordingly, in succeeds only in killing children, not creating pressure. This is best shown by Iran's decision to stay in the JCPOA. The US is being ignored, because it is comparably irrelevant in purely economic terms.
The EU has also passed legislation prohibiting EU companies from implement US sanctions and indemnifying them against US fines: https://www.bbc.com/news/world-europe-45085205. And there's an EU venture to replace US institutions in Iran-bound financial transactions: https://www.consilium.europa.eu/en/press/press-releases/2019...