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Belgium: Compensation available to EU operators hit by US sanctions on Iran - EU01:37

Belgium: Compensation available to EU operators hit by US sanctions on Iran - EU

Belgium, Brussels
August 6, 2018 at 12:43 GMT +00:00 · Published

Deputy Chief Spokesperson of the EU Commission, Mina Andreeva, took questions regarding the ‘Blocking Statute’ deployed by the European Union to protect EU businesses in Iran ahead of fresh US sanctions against Tehran, in Brussels on Monday.

She explained how the 'Blocking Statute' "will allow EU operators to recover damages arising from US extraterritorial sanctions from the persons causing them and nullifies the effect in the EU of any foreign court rulings based on this."

"It also forbids EU persons from complying with those sanctions unless exceptionally authorised to do so by the commission in case a non-compliance seriously damages their interests or the interests of the European Union," she added.

When asked about further details on the issue of compensation, she referred journalists to the EU technical briefing and to an EU guide "that will be published and [made] available for all the EU operators."

The US sanctions are reportedly due to come into force on Tuesday.

In May 2018, US President Donald Trump announced the US withdrawal from the Iranian nuclear deal (JCPOA) and the re-imposition of sanctions, claiming this deal is "defective."

Belgium: Compensation available to EU operators hit by US sanctions on Iran - EU01:37
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Deputy Chief Spokesperson of the EU Commission, Mina Andreeva, took questions regarding the ‘Blocking Statute’ deployed by the European Union to protect EU businesses in Iran ahead of fresh US sanctions against Tehran, in Brussels on Monday.

She explained how the 'Blocking Statute' "will allow EU operators to recover damages arising from US extraterritorial sanctions from the persons causing them and nullifies the effect in the EU of any foreign court rulings based on this."

"It also forbids EU persons from complying with those sanctions unless exceptionally authorised to do so by the commission in case a non-compliance seriously damages their interests or the interests of the European Union," she added.

When asked about further details on the issue of compensation, she referred journalists to the EU technical briefing and to an EU guide "that will be published and [made] available for all the EU operators."

The US sanctions are reportedly due to come into force on Tuesday.

In May 2018, US President Donald Trump announced the US withdrawal from the Iranian nuclear deal (JCPOA) and the re-imposition of sanctions, claiming this deal is "defective."

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