COURT OF JUSTICE OF THE EU / Iran

EU blocking statute can be invoked in civil proceedings when a European company submits to US sanctions

Brussels, 21/12/2021 (Agence Europe)

The Court of Justice of the EU (CJEU) ruled on Tuesday 21 December that obligations under the EU’s blocking statute can be taken into account in civil proceedings. 

In Case C-124/20 involving the Iranian bank Bank Melli Iran (BMI) and the German company Telekom, the CJEU considers that the early termination of a contract between the two firms by Telekom may have been motivated by US extraterritorial sanctions. De facto, the Court ruled that the European blocking statute can be invoked to...