On Wednesday 6 June, the European Commission adopted two proposals to offset the effects on European businesses of the US extraterritorial sanctions adopted against Iran and to pursue economic and trade relations with Teheran (see EUROPE 12023).
The US sanctions have been added to the 'Blocking Statute', which prohibits European companies from complying with the extraterritorial effects of the American sanctions, allows them to recover damages caused by these sanctions from the person who...