Don't Wake up the (EU) Bear! The Scope of the EU Blocking Regulation 2271/96 in Light of the Recent Preliminary Ruling Reference in Bank Melli V. Telekom Deutschland Case, C-124/20

摘要

The present article describes the main features of the EU Blocking Regulation aimed at obstructing the application in the EU of US secondary economic sanctions. The recent preliminary ruling request by a German Court on such Regulation in the Bank Melli v. Telekom Deutschland case could open the door for the Court of Justice of the European Union granting a strong and unconditional enforcement of such EU Regulation against US secondary sanctions. If this were to happen, the compliance policy of companies present in the European Union will be dramatically impacted. Although the case is yet to be decided, most likely in the first half of 2021, the present article addresses main points concerning the relevant aspects for the application and interpretation of the EU Blocking Regulation.