EU blocking Illegal US sanctions against Iran to protect European companies

Brussels announced back in May that it would enable the Blocking Statute starting from August. The law was first adopted in 1996 and forbids EU companies from complying with the extraterritorial effects of US sanctions. It allows companies to recover damages arising from such sanctions, and nullifies the effect in the EU of any foreign court judgements based on them.

Friends of Syria

EU blocking US sanctions against Iran to protect European companies © Damir Sagolj / Reuters

The European Union is enforcing the so-called Blocking Statute to protect its firms operating in Iran from looming US sanctions against the country.

The first round of renewed US sanctions will take effect on Tuesday after midnight US Eastern time with the harshest sanctions expected to return in early November. Washington is reinstating penalties that were lifted against Iran after unilateraly withdrawing from the historic nuclear deal sealed between Tehran and six world powers in 2015.

The European Commission has stated that despite US sanctions, European companies will continue doing legal business in Iran under the protection from Brussels.

“The lifting of nuclear-related sanctions is an essential part of the deal – it aims at having a positive impact not only on trade and economic relations with Iran, but…

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4 thoughts on “EU blocking Illegal US sanctions against Iran to protect European companies

  1. It would seem to all have been pointless with regards to the nuclear deal that was reached because another American president can just come along and wipe all of that out and rescind any agreement, previously made, affecting all parties concerned. And so now, the pivot from Syria to Iran because even though I am quite sure that America is not finished involving itself in the affairs of Syria, it has now ratcheted up its enmity against Iran. Can nothing stop this headless monster as it writhes in its death throes because it is still a formidable beast what with all of its military might, at the ready, all across this planet?

    Liked by 1 person

  2. Amendment or correction required, although a minor one, a rather pertinent one I should think:
    “from looming US sanctions” to looming ILLEGAL sanctions – as are most sanctions imposed by the headless monster and it’s perevious “friends” and their just as illegal sanctions. Personally, I’m rather chuffed that former “friends” of the US are poking Trump and the US in the eye – they might even learn the fundamental truth that America is friend to no-one except it’s own best interests.

    Like

  3. Excellent point, Mohandeer. You are absolutely right about the correction. I have reblogged this article from Friends of Syria. WordPress requires you to reblog the article verbatim and won’t allow you to make corrections – they should, though. As you can see, I’ve corrected the title.

    Like

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