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The European Union blocks US sanctions against Iran in its territory

on Mon Aug 06, 2018 2:49 pm
The European Union is blocking the new US sanctions against Iran in its territory since August 7

This is stated in a statement by the European Commission.

This step is explained by the fact that this will help mitigate the impact of sanctions on the interests of companies in EU Member States that have legitimate business in Iran.

"The renewed" blocking "resolution is part of the support of the European Union for the continuation of the full and effective implementation of the Iranian nuclear deal, including by supporting trade and economic relations between the EU and Iran, which were normalized after the abolition of nuclear-related sanctions," reads in the message.

The European Commission launched the process of updating the "blocking regulation" on June 6. The European Parliament and the Council of the EU had 2 months to object. Since there were no comments, the measures come into force after the publication of the decision in the Official Journal of the EU on August 7.

The European Union adopted a "blocking resolution" in November 1996. It allows European companies not to comply with Washington's decision on sanctions. In addition, companies may be compensated for damages caused.

espreso.tv  In Ukrainian/український
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