Newsflash: Update EU Anti-Boycott Regulation

 

Cologne, 8th August 2018

Newsflash: Update EU Anti-Boycott Regulation

In the dispute between the USA and the EU over the continued existence of the JCPOA, the EU Commission has taken further action: With regard to the amended Anti-Boycott Regulation 2271/1996, which came into force on 7 August (see our Newsflash dated 7 August 2018), a Q&A document is now available which takes a clear, albeit not exhaustive position on some of the pressing questions, including questions of damages and again on questions of the approval procedure.

We would particularly like to draw your attention to this document. You can find it here.

The document is also available here in English.

In our opinion, this step makes it clear that the EU Commission wants to enforce the Anti-Boycott Regulation - unlike in previous years. However, this does not make the situation any easier for the companies concerned. The impending reactions from the USA in the form of sanctions against European companies that violate US secondary sanctions against Iran remain an acute threat. The prospect of - in court -  damages may only be reassuring to a limited extent. 

Against this background, however, the importance of an application for approval to comply with US sanctions is increasing.

 

 

Stephan Müller

Partner

Telephone: +49 221 2091 448
Telefax: +49 221 2091 333

stephan.mueller@oppenhoff.eu

Denmark, Finland, Israel, Norway, Sweden