Blocking statute: Difference between revisions
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A '''blocking statute''' is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the [[European Union]] in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means. |
A '''blocking statute''' is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the [[European Union]] in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means. |
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On 7 August 2018, the EU enacted an updated Blocking Statute to nullify US sanctions on countries trading with Iran, after the US announced sanctions against such countries following its [[United States withdrawal from the Joint Comprehensive Plan of Action|withdrawal from an agreement]] permitting trade if Iran curtailed its nuclear programme.<ref name=EC>{{cite web |url=http://europa.eu/rapid/press-release_IP-18-4805_en.htm|title=Updated Blocking Statute in support of Iran nuclear deal enters into force | |
On 7 August 2018, the EU enacted an updated Blocking Statute to nullify US sanctions on countries trading with Iran, after the US announced sanctions against such countries following its [[United States withdrawal from the Joint Comprehensive Plan of Action|withdrawal from an agreement]] permitting trade if Iran curtailed its nuclear programme.<ref name=EC>{{cite web |url=http://europa.eu/rapid/press-release_IP-18-4805_en.htm|title=Updated Blocking Statute in support of Iran nuclear deal enters into force |website=[[Europa (Web portal)|Europa.eu]] |publisher=European Commission Press Release Database|date=6 August 2018|author= |accessdate= 7 August 2018}}</ref> |
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A blocking statute shields companies in its jurisdiction against sanctions by prohibiting them from respecting the sanctions, and not recognising foreign court rulings enforcing them.<ref name=EC/> |
A blocking statute shields companies in its jurisdiction against sanctions by prohibiting them from respecting the sanctions, and not recognising foreign court rulings enforcing them.<ref name=EC/> |
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==References== |
==References== |
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<References/> |
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Revision as of 21:15, 7 August 2018
A blocking statute is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the European Union in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means.
On 7 August 2018, the EU enacted an updated Blocking Statute to nullify US sanctions on countries trading with Iran, after the US announced sanctions against such countries following its withdrawal from an agreement permitting trade if Iran curtailed its nuclear programme.[1]
A blocking statute shields companies in its jurisdiction against sanctions by prohibiting them from respecting the sanctions, and not recognising foreign court rulings enforcing them.[1]
External links
References
- ^ a b "Updated Blocking Statute in support of Iran nuclear deal enters into force". Europa.eu. European Commission Press Release Database. 6 August 2018. Retrieved 7 August 2018.
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