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Legal Update

EU Responds to US Decision to Reimpose Secondary Sanctions Against Iran by Initiating Blocking Statute

24 May 2018
Mayer Brown Legal Update
On May 8, 2018, President Trump announced his decision to terminate US participation in the Joint Comprehensive Plan of Action—the multilateral legal framework for addressing Iran’s nuclear program—and to reimpose US sanctions on Iran despite the concerns of EU leaders. In response, on Friday, May 18, 2018, the European Union announced that it has decided to revive a “Blocking Statute” to protect EU interests from these US sanctions. This Legal Update discusses how the Blocking Statute would be activated, what it would block and compel, whom it would apply to, how it would be enforced and what the practical impact would be for business.

Authors

  • Paulette Vander Schueren
    T +32 2 551 5950
  • Nikolay Mizulin
    T +32 2 551 5967
  • Dr. Dylan Geraets
    T +32 2 551 5948
  • Edouard Gergondet
    T +32 2 551 5946
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