 UPDATING THE EU'S BLOCKING STATUTE SUPPORTS THE IRAN NUCLEAR AGREEMENTEuroinfo, 2019, vol. 3, issue 1, 37-47 Abstract: In early May 2018, President Donald Trump announced the U.S.' withdrawal from the historic Iran nuclear deal (JCPOA). The decision puts US sanctions on Iran back in place that existed at the time of the deal (2015). As a result of US-initiated measures with some extraterritorial effects, the European Commission updated the "blocking statute" (Council Regulation 2271/96), so as to apply from August 7, 2018. According to the European Commission, the measure is likely to mitigate the impact of US sanctions on the legitimate interests of EU companies operating in Iran.This article analyzes and summarizes 1) the US reimposed sanctions on Iran related to Iran's nuclear activities and the JCPOA provisions considered by the US to be insufficient and ineffective; 2) EU measures to protect the interests of European companies conducting economic /trade activities with Iran, and 3) Some opinions on the potential impact of the EU blocking statute on the European companies engaged in business with Iran. Keywords: European Union; USA; Iran; economic sanctions (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:3:y:2019:i:1:p:37-47 Access Statistics for this article Euroinfo is currently edited by Simona Moagar Poladian, PhD More articles in Euroinfo from Institute for World Economy, Romanian Academy Contact information at EDIRC. |
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