The Blocking Statute: Protecting E.U. Companies From the Effects of Extra-Territorial Application of U.S. Sanctions Against Iran
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On Demand Webinar
On May 8, 2018, President Trump announced that the U.S. would be withdrawing from the Iran nuclear deal. Following this decision, E.U. leaders agreed to activate the so-called Blocking Regulation, which bans European companies, under threat of punishment, from complying with U.S. sanctions against Iran.
This discrepancy between U.S. and E.U. regimes severely complicate matters for financial institutions and companies looking to comply with sanctions against Iran. Furthermore, there is little to no guidance on this from the regulators.
In this SanctionsAlert.com webinar, our expert speakers will discuss the vital elements of the E.U. Blocking Statute as well as how to best deal with the discrepancy between E.U. and U.S. rules in order to stay compliant.
You will learn:
- The history of the E.U.Blocking Statute;
- What the amendment to the Annex of the Blocking Statute means in practice (de facto perspective) as opposed to what it means in law (de jure perspective);
- The clawback provision of the Blocking Statute;
- The catch-22 companies can find themselves in as a result of the renewed US sanctions and the Blocking Statute; and
- The extent to which the Blocking Statute is a political statement as opposed to an effective tool which E.U. companies can rely on.
November 15, 2018