EU IRAN SANCTIONS BLOCKING REGULATION PUBLISHED

On 6th June, the EU published the draft Blocking Regulation to protect EU companies from the extraterritorial effects of US Iran sanctions reimposed after the US withdrew from the JCPOA.  The European Sanctions Blog explained that the European Parliament and the EU Council now have 2 months for any objections to these measures before they enter into force.  If there are none, the updated Blocking regulation will enter into force at the latest at the beginning of August 2018, by the time the first set of re-imposed US sanctions will take effect.

https://ec.europa.eu/transparency/regdoc/rep/3/2018/EN/C-2018-3572-F1-EN-MAIN-PART-1.PDF

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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