![]() This article provides an overview of the re-imposed US sanctions and the updated EU Blocking Statute, while giving an understanding of the practical implications of the US sanctions and the EU counteraction from a European perspective. ![]() The US sanctions and the EU Blocking Statute have had, and will continue to have, considerable ramifications for international trade with Iran, including maritime trade and insurance. In response to this, the European Union updated the 1996 regulation known as "the Blocking Statute" earlier this year, with the aim of counteracting the extraterritorial effects of the re-imposed American sanctions on EU persons.
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