Initial Imposition of EU sanctions & Subsequent Amendments
These sanctions are relatively unique in that they are not imposed against the USA, per se, but rather to protect EU individuals and businesses from the extra-territorial effect of US laws regarding carrying out business in Iran, Libya and Cuba.
The measures began in 1996 and empowered Member States to take measures to protect the interests of the relevant individuals and businesses.Subscribe for full access
The President of Iran, Hassan Rouhani, has said the Iranian government will file “a legal case in Iranian courts against those in America who designed and imposed sanctions on Iran” following the US withdrawal from the JCPOA in 2018, see previous post.
OFAC has issued 2 general licenses related to the GAZ Group, which therefore extend the expiration date of previous licenses to 6 July 2019. See General Licenses 13K, 15E, and OFAC Notice.
On 1 February 2019, the Extraterritorial US Legislation (Sanctions against Cuba, Iran and Libya) (Protection of Trading Interests) (Amendment) Order 2018 (SI 2018/1357) came into force. This UK Order ensures that UK criminal offences extend to conduct by UK nationals and entities within the scope of the amended Blocking Statute (on which see previous blog).
We reported last month that Iran has brought proceedings against the USA in the International Court of Justice (ICJ) in the Hague over the 8 May US decision to withdraw from the JCPOA and reimpose sanctions on Iran. See Iran’s application and ICJ press release. Iran’s claim is that the US reimposition of sanctions violates...
The updated EU Blocking Statute came into force today (7 August 2018), see Commission Delegated Regulation (EU) 2018/1100 amending Council Regulation (EC) No 2271/96. The Blocking Statute allows EU operators to recover damages arising from the extra-territorial sanctions within its scope from the persons causing them and nullifies the effect in the EU of any...