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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. 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 European Union blocking statute A EU blocking statute was originally enacted in 1996 to "counteract" the sanctions imposed by the United States against Cuba, Iran and Libya.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 announced its inten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Embargo Against Cuba
The United States embargo against Cuba prevents American businesses, and businesses organized under U.S. law or majority-owned by American citizens, from conducting trade with Cuban interests. It is the most enduring trade embargo in modern history. The US first imposed an embargo on the sale of arms to Cuba on March 14, 1958, during the Fulgencio Batista regime. Again on October 19, 1960, almost two years after the Cuban Revolution had led to the deposition of the Batista regime, the US placed an embargo on exports to Cuba except for food and medicine after Cuba nationalized the US-owned Cuban oil refineries without compensation. On February 7, 1962, the embargo was extended to include almost all exports. The United Nations General Assembly has passed a resolution every year since 1992 demanding the end of the US economic embargo on Cuba, with the US and Israel being the only nations to consistently vote against the resolutions. , the embargo is enforced mainly through the Trad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Sanctions
After the failure of the Embargo Act of 1807, the federal government of the United States took little interest in imposing embargoes and economic sanctions against foreign countries until the 20th century. United States trade policy was entirely a matter of economic policy. After World War I, interest revived. President Woodrow Wilson promoted such sanctions as a method for the League of Nations to enforce peace. However, he failed to bring the United States into the League and the US did not join the 1935 League sanctions against Italy. However, in 1940, the United States participated in the ABCD line against Japan, and the Helium Act of 1925 forbade the export of that strategic commodity. Interest in trade as a tool of foreign policy expanded during the Cold War era, and many economic sanctions were applied. The Comprehensive Anti-Apartheid Act of 1986, was only in effect for five years. Later, sanctions were additionally aimed against countries which the U.S. government liste ... [...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, 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 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 2018 the E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body of about 32,000 European civil servants. The Commission is divided into departments known as Directorates-General (DGs) that can be likened to departments or ministries each headed by a Director-General who is responsible to a Commissioner. There is one member per member state, but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. The Commission President (currently Ursula von der Leyen) is proposed by the European Council (the 27 heads of state/governments) and elected by the European Parliament. The Council of the European Union then nominates the other members of the Commission in agreement with the nominated President, and the 27 members as a team are t ... [...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 EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions projects that achieve the policy aims of the European Union through loans, guarantees and technical assistance. 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 crash and the COVID-19 pandemic. Since its inception in 1958 the EIB has invested over one 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 green finance in the world. In 2007, the EIB became the first institution in the world to issue green bonds. In 2019 it comm ... [...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 su ... [...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 maintains 50 foreign news bureaus with more than 250 correspondents around the world. 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, the BBC also has regional centres across England and national news ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing House (finance)
A clearing house 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. 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 in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perfo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special-purpose Vehicle
A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV; or, in some cases in each EU jurisdiction, FVC, financial vehicle corporation) 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, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Tribune
Financial Tribune is a non-governmental newspaper in Iran opened in 2014. Its purpose is to cover a variety of political, economic, technology, and social stories. Though it covers a wide gamut of issues, the main focus of the newspaper is on commerce, in particular news/views related to promoting private enterprise in the economy. 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 located in the central business district in Iran's capital Tehran. The newspaper covers a host of up-and-coming sectors in Iran's economy. In r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
