EU Blocking Statute

The EU Blocking Statute (Council Regulation (EC) No 2271/96) seeks to “block” what is regarded as the extra-territorial impact of some US sanctions on Iran, Libya and Cuba.

The EU adopted the Blocking Statute in 1996 in response to US sanctions on Cuba, Iran and Libya. In 2018, the Blocking Statute was amended in response to the re-imposition of US sanctions on Iran when the US withdrew from the Joint Comprehensive Plan of Action (JCPOA).

Regulations

Guidance

  • Briefing: European Parliamentary Research Service: Updating the Blocking Regulation, June 2018
  • European Commission Guidance Note: Q&A on the adoption of update of the Blocking Regulation, 7 August 2018
  • Template for authorisation applications, 29 March 2021

Commentary

  • Report: US Sanctions and the EU Blocking Regulation: Issues of Legal Uncertainty – Financial Markets Law Committee, June 2019
  • Strategy for “The European economic and financial system: fostering openness, strength and resilience”, 19 January 2021
  • EU Commission Initiative (including impact assessment): Unlawful extra-territorial sanctions – a stronger EU response (amendment of the Blocking Statute), 2021
  • Feedback to inception impact assessment, August 2021
  • Report from the EU Commission to the European Parliament and the Council relating to Article 7(a) of Council Regulation (EC) No 2271/96 (‘Blocking Statute’), 3 September 2021