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Court of Justice of the European Union sets Binding Rules on the Contractual Impact of the EU Blocking Regulation The EU Blocking Regulation (the “Regulation”)1...
1. Getting Europe ready for the digital age: updates to the proposed Digital Services Act The dynamic double-team is arriving! In December 2020, the European Commission published two headline proposed pieces of legislation designed to implement the EU’s digital strategy. Together, the Digital Services Act ( DSA) and Digital Markets Act (see more details below) are intended to create a safer digital space and to establish a level playing field to foster innovation and growth both in the EU and globally. The DSA, as one half of this legislative package, will focus on the regulation of digita...
On January 9, 2021, China’s Ministry of Commerce (“ MOFCOM”) issued its first order of the year, the Rules on Counteracting Unjustified Extra-Territorial Application of Foreign Legislation and Other Measures (the “ Rules”), which are immediately effective as of the date of promulgation. These Rules are aimed to counteract the effects of US secondary sanctions, and parallels are inevitably being made with the EU's Blocking Statute 1. This article will point out the five aspects to know about the Rules. I. What will be counteracted under the Rules? The Rules aim to block the unjustifi...
To continuously provide those financial services also governments could protect exports and investments in iran something that the german government for example has promised to continue to do what the european union of course cannot do is prevent the american government from imposing fines against companies that do not follow the sanctions and even though the european union's blocking regulation is talking about the possibility of compensation for damages that european companies might face in case they do not follow the u.s. sanctions is very unlikely that a company like diner for example sue ...
Let's bring in our financial correspondent of booze and who's done a front for comma what can the e.u. actually do to help european companies. well first of all the european union can make sure the channels for financial transactions remain open and if this doesn't work with corporate banks then state owned banks could be forced to provide those services in the future then the german government has confirmed that the export guarantees and investment guarantees for iran stay in place that is that part of the risk that german companies take when doing business with iran will be protected by the ...