United States. – The Exporters Club urges Europe to review its laws to compensate for United States sanctions.

Tony Joseph 4 years ago 3 min read

04/12/2021 Economy. – The Exporters Club urges Europe to review its laws to compensate for United States sanctions. The Spanish Exporters and Investors Club has asked the European Union, and particularly the political forces that make up the European Council and the European Parliament, to review and update the EU’s blocking statute, the legal tool that allows 27 member states to sell their companies to the United States. Is to protect against the outside influence of sanctions, as reported by the organization. Economia Exporters & Investors Club

Madrid, 12 (Europa Press)

The Spanish Exporters and Investors Club has asked the European Union, and particularly the political forces that make up the European Council and the European Parliament, to review and update the EU’s blocking statute, the legal tool that allows 27 member states to sell their companies to the United States. Is to protect against the outside influence of sanctions, as reported by the organization.

The European Union, to protect European operators from the external effects of US sanctions, was concluded in 1996 with a Statue of Blocking which, for the club, has shown “significant deficiencies” over time and that have increased. Huh. Current context of epidemics and international restrictions on mobility.

The author of the Technical Note of the Exporters’ Club’s Reflection Committee, led by expert in commercial and international law expert Jose Maria Vianals, recommended the formation of a supervisory body to review compliance with the law. Its function will be to investigate potential violations, define theoretical criteria for interpretation, and to clarify specific application in various factual cases.

The document also proposes to improve the delimitation of prohibited behaviors to avoid ambiguous behavior. In this sense, they specifically consider it necessary to limit acts and practices that may be legally violated, to provide legal certainty to EU operators under it, and to create a consultation channel that Allows for resolving potential conflicts of interpretation. way.

The club recommends the adoption of new technologies, such as digital euros, ‘stablocks’ or ‘blockchains’, so that they can act as bridges in the event of a lockdown and to counter the predominance of the US dollar in international trade.

In this context, the analysis also highlights the importance of judicial cooperation between member states when pre-emptive regulation imposes prior safeguards to operators prior to the regulation or, in particular, by the ‘Hells-Burton’ law do.

For consideration of internationalization, the committee has also considered it necessary to work in matters of economic diplomacy to strengthen the position of the European Union in terms of international legal cooperation. The aim is to guarantee the recognition of their sentences in areas that make treaties with the European Union but not with the US, and to be able to initiate diplomatic negotiations with the authorities of this country is likely that ‘non- America. Individuals (operators not subject to US jurisdiction) may obtain special licenses.