EU’s Blocking Statute on Iran

As the first batch of re-imposed US sanctions on Iran took effect, the EU’s updated Blocking Statute entered into force early today to mitigate their impact on the interests of EU companies doing legitimate business in Iran. The updated Blocking Statute is part of the European Union’s support for the continued full and effective implementation of the Joint Comprehensive Plan of Action (JCPOA) – the Iran nuclear deal, including by sustaining trade and economic relations between the EU and Iran, which were normalised when nuclear-related sanctions were lifted as a result of the JCPOA.