Warnings And Guideposts From EU Sanctions Blocking Case
Law360 (June 4, 2021, 5:43 PM EDT) -- International companies and their lawyers have long struggled to satisfy competing imperatives contained in U.S. and EU legislation across myriad regulatory regimes.
It would be understandable if they have not yet directed much attention to Bank Melli Iran v. Telekom Deutschland, a case now winding its way through the Court of Justice of the European Union, or CJEU.
The case involves a small nominal amount of money and the EU's sanctions blocking statute — a heretofore mostly overlooked piece of legislation concerning international secondary sanctions. However, an advocate general's opinion in the case, issued on May 12, highlights serious new risks...
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