After the unilateral withdrawal from the Iran nuclear deal in May 2018, the United States reintroduced a number of secondary sanctions against foreign banks and companies, which had established economic relations with Iran. The European Union has strongly opposed the new American course and announced several measures aimed at normalising trade with Teheran. These efforts, unfortunately, proved to be insufficient, as the threat of US sanctions has convinced most European investors to terminate their business with Iran. Accordingly, in May 2019 the Iranian government announced its gradual and conditional withdrawal from the nuclear deal. The article aims to analyse the instruments, the EU and its Member States have created in order to contain American secondary sanctions and explain why they have not been effective so far. In particular, it will consider the recent introduction of countermeasures through the amendment of Reg. (CE) n. 2271/96 (so called ‘Blocking Statute’) and the creation of a mechanism in charge of coordinating payments between the EU and Iran without relying on the American banking system. Furthermore, the research will also focus on the opportunity for the EU to start a proceeding before the WTO resolution mechanisms in order to determine the incompatibility of secondary sanctions with the GATT and the GATS. The research will try to find out the best strategies, the EU can develop to prevent the United States and other foreign countries from interfering with its trade policy again.

Lionello, L., La reazione europea alle sanzioni secondarie degli Stati Uniti. Cosa non ha funzionato nel caso iraniano?, <<DIRITTO DEL COMMERCIO INTERNAZIONALE>>, 2019; 2019 (3): 483-514 [http://hdl.handle.net/10807/143727]

La reazione europea alle sanzioni secondarie degli Stati Uniti. Cosa non ha funzionato nel caso iraniano?

Lionello, Luca
2019

Abstract

After the unilateral withdrawal from the Iran nuclear deal in May 2018, the United States reintroduced a number of secondary sanctions against foreign banks and companies, which had established economic relations with Iran. The European Union has strongly opposed the new American course and announced several measures aimed at normalising trade with Teheran. These efforts, unfortunately, proved to be insufficient, as the threat of US sanctions has convinced most European investors to terminate their business with Iran. Accordingly, in May 2019 the Iranian government announced its gradual and conditional withdrawal from the nuclear deal. The article aims to analyse the instruments, the EU and its Member States have created in order to contain American secondary sanctions and explain why they have not been effective so far. In particular, it will consider the recent introduction of countermeasures through the amendment of Reg. (CE) n. 2271/96 (so called ‘Blocking Statute’) and the creation of a mechanism in charge of coordinating payments between the EU and Iran without relying on the American banking system. Furthermore, the research will also focus on the opportunity for the EU to start a proceeding before the WTO resolution mechanisms in order to determine the incompatibility of secondary sanctions with the GATT and the GATS. The research will try to find out the best strategies, the EU can develop to prevent the United States and other foreign countries from interfering with its trade policy again.
2019
Italiano
Lionello, L., La reazione europea alle sanzioni secondarie degli Stati Uniti. Cosa non ha funzionato nel caso iraniano?, <<DIRITTO DEL COMMERCIO INTERNAZIONALE>>, 2019; 2019 (3): 483-514 [http://hdl.handle.net/10807/143727]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/143727
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