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Blocking Statute
A blocking statute is a law of one jurisdiction intended to hinder application there of a law made by a foreign jurisdiction. A blocking statute was proposed by the European Union in 1996 to nullify a US trade embargo on Cuba and sanctions related to Iran and Libya which affected countries trading with the US and with the named countries. The 1996 statute was not enacted as the disagreements were settled by other means. Operation A blocking statute shields companies in its jurisdiction against sanctions by prohibiting them from respecting the sanctions, and not recognising foreign court rulings enforcing them. European Union blocking statute A EU blocking statute was originally enacted in 1996 to "counteract" the sanctions imposed by the United States against Cuba, Iran and Libya. After the US reimposed sanctions against Iran following its withdrawal from an agreement which permitted trade if Iran curtailed its nuclear programme, on 17 May 2018 the European Commission announce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Embargo Against Cuba
The United States embargo against Cuba is the only active embargo within the United States which has prevented U.S. businesses from conducting trade or commerce with Cuban interests since 1958. Modern Cuba–United States relations, diplomatic relations are cold, stemming from historic conflict and divergent political ideologies. U.S. economic sanctions against Cuba are comprehensive and impact all sectors of the Economy of Cuba, Cuban economy. It is the most enduring Economic sanctions#History of sanctions, trade embargo in modern history. The U.S. government influences Extraterritoriality, extraterritorial trade with Cuba. The U.S. government first launched an arms embargo against Cuba in 1958 during the U.S.-backed Fulgencio Batista regime. The Cuban Revolution saw nationalization, high U.S. imports taxes, and forfeiture of U.S.-owned economic assets, including oil refineries, without compensation. The U.S. retaliated in 1960 with total embargo on Cuban trade, with exception ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Sanctions
United States government sanctions are financial and trade restrictions imposed against individuals, entities, and jurisdictions whose actions contradict U.S. foreign policy or national security goals. Financial sanctions are primarily administered by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), while export controls are primarily administered by the U.S. Department of Commerce's Bureau of Industry and Security (BIS). Restrictions against sanctioned targets vary in severity depending on the justification behind the sanction, and the legal authorities behind the sanctions action. Comprehensive sanctions are currently in place targeting Cuba, Iran, North Korea, Russia, and certain conflict regions of Ukraine, which heavily restrict nearly all trade and financial transactions between U.S. persons and those regions. Targeted sanctions specifically target certain individuals or entities that engage in activities that are contrary to U.S. foreign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Withdrawal From The Joint Comprehensive Plan Of Action
The United States announced its withdrawal from the Joint Comprehensive Plan of Action (JCPOA), also known as the "Iran nuclear deal" or the "Iran deal", on May 8, 2018. The JCPOA is an agreement on Iran's nuclear program reached in July 2015 by Iran and the P5+1 (the five permanent members of the United Nations Security Council—China, France, Russia, United Kingdom, United States—plus Germany) also called E3/EU+3. In a joint statement responding to the U.S. withdrawal, the leaders of France, Germany and the United Kingdom stated that the United Nations Security Council resolution endorsing the nuclear deal remained the "binding international legal framework for the resolution of the dispute". Various countries, international organizations, and U.S. scholars have expressed regret or criticized the withdrawal, while U.S. conservatives, Israel, Saudi Arabia and allies have supported it. The withdrawal caused concerns in Iran due to its impact on the economy. On 17 May 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Commission
The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informally known as "commissioners") corresponding to two thirds of the number of Member state of the European Union, member states, unless the European Council, acting unanimously, decides to alter this number. The current number of commissioners is 27, including the president. It includes an administrative body of about 32,000 European civil servants. The commission is divided into departments known as Directorate-General, Directorates-General (DGs) that can be likened to departments or Ministry (government department), ministries each headed by a director-general who is responsible to a commissioner. Currently, there is one member per European Union member state, member state, but members are bound by their oath of office to represent the genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Investment Bank
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt solutions companies and projects that achieve the policy aims of the European Union through loans, equity and guarantees. The EIB focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure. It has played a large role in providing finance during crises including the 2008 financial crisis and the COVID-19 pandemic. Over 60 years since its inception in 1958 to 2018 the EIB has invested over 1.1 trillion euros. It primarily funds projects that "cannot be entirely financed by the various means available in the individual Member States". The EIB is one of the biggest financiers of Sustainable finance, green finance in the world. In 2007, the EIB became the first institution in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Europa (Web Portal)
Europa is the official web portal of the European Union (EU), providing information on how the EU works, related news, events, publications and links to websites of institutions, agencies and other bodies. ''.europa.eu'' is also used as a common second level domain for the websites of the EU's bodies, for instance ''iss.europa.eu'' is the address of the Institute for Security Studies. Europa was first published in February 1995 at the G7 ministerial meeting on information society in Brussels. Originally designed for that specific event, the portal expanded rapidly and the European Commission decided to develop it into a general information resource, specialising in the work and domain of the EU's bodies. Laws and documents of major public interest are published in all 24 official EU languages. Documents that are not legally binding are usually published in the EU's institutional ''working languages''; English, French and German. Services Europa also offers other services ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BBC News
BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online news coverage. The service has over 5,500 journalists working across its output including in 50 foreign news bureaus where more than 250 foreign correspondents are stationed. Deborah Turness has been the CEO of news and current affairs since September 2022. In 2019, it was reported in an Ofcom report that the BBC spent £136m on news during the period April 2018 to March 2019. BBC News' domestic, global and online news divisions are housed within the largest live newsroom in Europe, in Broadcasting House in central London. Parliamentary coverage is produced and broadcast from studios in London. Through BBC English Regions, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing House (finance)
A clearing house, often written as ''clearinghouse'', is a financial institution formed to facilitate the exchange (i.e., '' clearance'') of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement obligations. A clearing house provides emergency lending and assists banks when they need help. Description After the legally binding agreement (i.e., ''execution'') of a trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the payment (i.e., '' settlement'') of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties. In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special-purpose Vehicle
A special-purpose entity (SPE), also called a special-purpose vehicle (SPV) or a financial vehicle corporation (FVC), is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality". Normally a company will transfer assets to the SPE for management or use the SPE to finance a large project thereby achieving a narrow set of goals without putting the entire firm at risk. SPEs are also commonly used in complex financings to separate different layers of equity infusion. Commonly created and registered in tax havens, SPEs allow tax avoidance strategies unavailable in the home district. Round-tripping is one such strategy. In addition, they are commonly used to own a single asset and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Tribune
''Financial Tribune'' was a non-governmental newspaper in Iran opened in 2014. Its purpose is to cover a variety of political, economic, technology, and social stories. It ran until 2023 when the paper's coverage and archives were purchased by a German news agency. Profile The ''Financial Tribune'' editor-in-chief is Khosro Ghadiri, the paper's Senior editor is Amin Sabooni, formerly the editor-in-chief of ''Iran Daily'' newspaper. Pouya Jabal Ameli is the senior economic analyst of the newspaper. ''Financial Tribune'' licence holder is "Donyay-e Eqtesad Media Group" and its owner is Alireza Bakhtiari who also runs the ''Donya-e-Eqtesad'' newspaper, ''Tejarat-e-Farda'' magazine and Eghtesad News website. As of 2014, the ''Financial Tribune'' main headquarters are in the central business district in Iran's capital Tehran. The newspaper covers a host of up-and-coming sectors in Economy of Iran, Iran's economy. In recent months its technology and new business experts have covered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
