The EU Blocking Regulation adopted in 1996 prohibits EU persons to comply with extraterritorial laws that are explicitly listed. Following the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, the Commission put forward proposals to include certain US sanctions on Iran in the list attached to the Regulation. Whilst the Commission’s objective is to protect Iran-related business interests of EU companies and individuals, this initiative poses a lot of concerns for European banks. The EBF recommends the Commission to provide a number of clarifications in its forthcoming Implementation Guidance. In the EBF’s view, the guidance must state very clearly that the Regulation does not intend to prevent EU persons from adopting a risk-based approach towards their business dealings with Iran.
Discussing the implementation of the Paris Call Principles for trust and cyber security in Cyberspace https://t.co/sIg2pUeTIy. @EBFeu as one the many supporters ! Importance to work together to strengthen cyber resilience
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
56 Avenue des Arts
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.