ADVOCATE GENERAL OF THE EUROPEAN UNION COURT OF JUSTICE ON THE EFFECT OF US SANCTIONS

On 26 May, an article in National Law Review in the US was concerned with US sanctions, such as those on Iran, and the EU Blocking Statute, which seeks to block or minimise the effect of such sanctions on EU persons.  The Opinion of the Advocate General was in connection with the case involving Bank Melli of Iran and Telekom Deutschland.  This case is said to raise a number of important and previously untested issues of interpretation under the EU Blocking Statute.  The Opinion, which is not binding on the court, but which is highly persuasive, was issued on 12 May.  It is said that the Opinion sheds significant new light on the EU Blocking Statute and warrants careful, prospective attention from EU companies to improve their compliance processes.   

https://www.natlawreview.com/article/eu-us-sanctions-dilemma-advocate-general-european-court-justice-weighs

 

 

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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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