European Union Blocking Statute

Definition:

Originally adopted in 1996 to counteract US sanctions imposed on Cuba, Iran and Libya, the EU Blocking Statute was updated in 2018 to counteract the re-imposed US primary and secondary sanctions on Iran, and prohibits EU persons from complying, directly or indirectly, with certain US sanctions. Since 2018, there has been limited case law and different member states have taken varied approaches to in its interpretation. Most notably, an ECJ judgment in Bank Melli demonstrates that EU companies should carefully document business decisions relating to Iran.

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