The European Union has blocked U.S. sanctions against Iran on its territory

ECONOMY

BRUSSELS, 7 August. /Basereporter.com/. The EU introduced the European blocking Statute which declares null and void in its territory with extraterritorial U.S. sanctions against Iran, prohibit European companies to comply with them, and also prohibits enforcement of any foreign judgments adopted on the basis of these sanctions. As reported on Monday, the European Commission, the blocking rules enforced automatically at 6:00 (7:00 GMT) on 7 August.

“August 7, becomes effective updated block the EU regulation, which will protect European companies doing business with Iran, the actions of the us extraterritorial sanctions,” – said Monday at a briefing in Brussels, European Commission spokesman Mina Andreeva.

“As soon as the locking status will take effect at 06:00 (07:00 GMT), it will allow all European organisations in a judicial order to compensate for the damage from the implementation of sanctions against persons because of whom it happened. [He] declares null and void (invalid) in the EU any decisions of foreign courts in support of sanctions,” – said Andreev.

As later explained by the experts of the European Commission, the regulations also allow the compensation of European companies, which can suffer losses as a result of US action.

From now on, European companies need to obtain special permission of the European Commission, which will be issued for each individual case and only in exceptional circumstances, if the company will be able to confirm that “the failure of sanctions can cause serious damage to the interests of European companies or the European Union as a whole”, explained the European Commission’s experts at a briefing in Brussels.

SVPD is indispensable

The European Union deeply regrets because of the restoration of U.S. sanctions against Iran after Washington’s decision to withdraw from the Joint comprehensive plan of action (SVPD) on Iran’s nuclear program, said in a statement in Brussels on Monday, a joint statement of the EU high representative for foreign Affairs and security policy Federica Mogherini and the foreign Ministers of the three EU countries included in the “six” to the UN – France, Britain and Germany.

“We deeply regret the renewal of US sanctions following their decision to exit the Joint comprehensive plan of action on Iran,” the statement says. The Ministers stressed that the AGREEMENT “works and carries out its tasks, ensuring the peaceful nature of Iran’s nuclear program, which the IAEA confirmed in 11 reports.”

The EU considers the AGREEMENT “based on a global architecture of nuclear non-proliferation, which is of key importance for Europe, the region and the world.” In Brussels expressed hope that “Iran will fully comply with its obligations under this agreement.” “Respect for the Iranian nuclear deal is the issue of compliance with international agreements, which is the basis of global security”, – said in a statement.

The EU stressed that the lifting of sanctions against Iran is a key part of all agreements which “should have positive implications not only for trade and economic development of Iran, but also to improve the lives of the Iranian people”. In this regard, the EU stressed that remaining in SVPD countries (Russia, China, France, Britain and Germany) committed to implementing all provisions of this document.

Implacable Washington

In may, the President of the United States Donald trump has announced the release of the AGREEMENT and promised not only to bring back the old, but also to impose new sanctions against Iran. He assured that Washington was ready to conclude a new agreement instead of the AGREEMENT, however, the US has nominated Iran actually obviously impracticable conditions. AGREEMENT was signed by the permanent five of the UN Security Council and Germany with Iran in 2015. This arrangement limited the nuclear program of Tehran in exchange for the lifting of sanctions of the UN Security Council and unilateral restrictive measures imposed at the time the US and the EU.

The first part of the us sanctions were renewed on the night of Monday to Tuesday. These restrictive measures will cover in particular the automotive sector of Iran and the sale of gold and several metals. The remaining sanctions will come into force on 5 November. They will affect primarily the energy sector of Iran, transactions related to oil transactions with Iran’s Central Bank.

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