August 7, 2018

EU’s updated Blocking Statute in support of Iran nuclear deal enters into force

In response to the United States’ decision to withdraw from the Joint Comprehensive Plan of Action and to reinstate all previously lifted sanctions under the agreement, the European Commission has expanded the scope of Council Regulation (EC) 2271/96, known as the “Blocking Statute”, to cover certain US extra-territorial sanctions re-imposed on 6 August 2018. The Commission has published a Guidance Note to facilitate understanding of the Blocking Statute.

EC press release | EC Guidance Note