The EU seeks to expand the scope of the EU Blocking Regulation to protect EU interests against the U.S. Iran sanctions

On 6 June 2018, the European Commission ("Commission") adopted a draft Delegated Regulation expanding the scope of Council Regulation (EC) No 2271/96 ("EU Blocking Regulation") to include the extra-territorial aspects of the U.S. Iran sanctions (please see our dedicated alert on this topic). The objective of the amended EU Blocking Regulation will be to protect EU companies against the extra-territorial effects of the U.S. Iran sanctions that "unduly affect the interests of natural and legal persons established in the [EU] and engaging in trade and/or the movement of capital and related commercial activities between the [EU] and Iran" (please see draft Delegated Regulation).

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