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A blocking statute is a law of one jurisdi … A blocking statute is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the European Union in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means. A blocking statute shields companies in its jurisdiction against sanctions by prohibiting them from respecting the sanctions, and not recognising foreign court rulings enforcing them.sing foreign court rulings enforcing them.
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https://ec.europa.eu/info/business-economy-euro/banking-and-finance/international-relations/blocking-statute_en +
, https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/%3Furi=CELEX:31996R2271 +
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| rdfs:comment |
A blocking statute is a law of one jurisdi … A blocking statute is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the European Union in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means.disagreements were settled by other means.
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| rdfs:label |
Blocking statute
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