EXTRATERRITORIAL SANCTIONS ON TRADE AND INVESTMENTS AND EUROPEAN RESPONSES

A study for the European Parliament in November says that recent US measures directed against Iran, Cuba and Russia (Nord Stream 2) have become indirectly a critical challenge for the EU as well. As they purport to deter economic actors under EU jurisdiction from engaging with target countries, they have an important extraterritorial dimension, which affects EU business and individuals and ultimately the sovereignty of the EU and its Member States.  A review of the existing sanction regimes and of the geopolitical context reveals that other international players and China in particular may follow suit in using such measures.  The study shows that extraterritorial sanctions have important economic implications, particularly for the EU and its vulnerabilities.  Extraterritorial sanctions also raise critical questions as to their legality under general international law, WTO law and other specific international rules.  The EU is especially affected by these measures and has taken some measures already in response. These could be improved and additional measures could be taken, as the policy recommendations set out in the study provide.

https://www.europarl.europa.eu/RegData/etudes/STUD/2020/653618/EXPO_STU(2020)653618_EN.pdf

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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