THE JOURNAL OF EXPORT CONTROLS AND SANCTIONS

Issue 84, November 2019

Belgium: adding teeth to the EU Blocking Regulation

Recent Belgian legislation will make it even harder for Belgian businesses to ‘choose between a rock and a hard place’, write Thomas Declerck, Nanyi Kaluma, Michael Fernandez-Bertier and Basil..

Recent Belgian legislation will make it even harder for Belgian businesses to ‘choose between a rock and a hard place’, write Thomas Declerck, Nanyi Kaluma, Michael Fernandez-Bertier and Basil Saen.   The EU Blocking Regulation prohibits European businesses from complying with certain US extraterritorial sanctions and export controls targeting Iran and Cuba, catching them between a rock and a hard place. The Belgian Act of 2 May 2019, which entered into force on 31 May 2019, gives teeth to the EU Blocking Regulation by providing for administrative fines of up to 10 % of a company’s turnover. The question is...

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