Following the withdrawal of the U.S. from the Joint and Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, which was announced on 8 May, the first wave of U.S. sanctions against Iran will be re-imposed on 7 August. More information on these measures, including a detailed list, can be accessed here.
In a letter addressed to the Austrian Presidency and the EU Commission, BusinessEurope stresses its support to the JCPOA, while urging for effective protection of EU companies that will face the extraterritorial effects of U.S. sanctions. In particular, the letter focuses on the EU Blocking Statute Regulation, raising questions on its practical implementation and requesting the timely publication of Guidelines addressed to national competent authorities and economic operators. See the letter here.