China's blocking statute

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August undefined, 2024

WebJan 14, 2024 · January 14, 2024. China’s Ministry of Commerce (MOFCOM) published the Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and … WebJun 11, 2024 · The NPC passed China’s new blocking statute, the Anti-Foreign Sanctions Law 中华人民共和国反外国制裁法 on June 10, 2024. The Law provides support for the …

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WebMar 25, 2024 · As other countries establish different or autonomous sanctions regimes, the Blocking Statute removes any restrictions on direct investments including, real estate, financial services or admission of securities to capital markets. The Blocking Statute permits European companies to essentially ignore U.S. sanctions against Iran. WebChina has yet to enforce its Counter-Control List. The U.S. will likely not accept compliance with blocking statutes to circumvent U.S. sanctions violations. However, “blocking … ctms oncore unmc

The French Blocking Statute and Cross-Border Discovery

WebMar 31, 2024 · The Four Mechanisms of the Blocking Statute. The impact of the Blocking Statute can be viewed through its four mechanisms: Nullification of Court Decisions. The Blocking Statute nullifies the effect in the E.U. of decisions made by any foreign court or administrative body that gives effect to re-instated U.S. sanctions on Iran (post-U.S ... WebJun 11, 2024 · Those involved in designing or implementing the U.S. and EU sanctions could find themselves or their family members denied visas to China. Their property in China may be seized, and any... WebChina's reaction. In response to the challenges caused by US sanctions, China introduced a new blocking statute in early January. This should be familiar to the EU market, as it is largely modelled on the EU blocking statute. Although the blocking statute doesn’t clearly state so, a reasonable interpretation is that it only binds Chinese parties. ctm southgate

The ‘blocking statute’: China’s new attempt to subvert US sanctions

CHINA ISSUES “BLOCKING STATUTE” Key points

WebThis long-awaited China ‘Blocking Statute’ will have major effects on the compliance of Chinese companies and the subsidiaries of foreign companies in China, which are restricted by certain foreign sanction laws from engaging in economic and trade activities in third countries or with partners from third countries. Webinclude China-incorporated subsidiaries of foreign companies. If a Chinese Party is Key points • China issued a blocking statute effective on its date of issue, 9 January 2024, which appears to be modelled upon the EU blocking statute. • There is a reporting obligation on the part of Chinese parties (including Chinese subsidiaries of foreign earthquake san luis obispo countyWebMar 6, 2024 · A guest post today from Ropes & Gray attorneys Ryan Rohlfsen, David Zhang and Karen Oddo. Introduction The People’s Republic of China (“PRC”) recently enacted the International Criminal … ctms onpoint

"WebApr 1, 2024 · H&M essentially just experienced what the Blocking Statute could do to other European firms. The company cited international supply chain standards for reconsidering its dealings in Xinjiang. Many of these standards will soon be firm rules under new laws such as in Germany that oblige firms to ensure labour and human rights are respected … " - China's blocking statute

China's blocking statute

Navigating the Future Landscape of the EU Blocking Statute

WebJan 9, 2024 · The Blocking Statute aims to address such type of secondary sanctions that China deems to violate international law and the basic principles of international relations, and unjustifiably prohibits ... WebSep 15, 2024 · China and the EU are using so-called counter sanctions, known in Europe as a blocking statutes, that protect against sanctions with extra-territorial reach beyond a country’s own companies and citizens. This includes US secondary sanctions on Iran. Iranian box fleet continues to trade despite sanctions By Richard Meade 29 Jun 2024

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Webblocking statute. These recent legislative developments are expected to renew interest in the French blocking statute and revive discussions on its enforcement both in France and the U.S. This pending change provides timely support for revisiting the mechanisms set up by both the French blocking statute and The Hague Evidence Convention. WebJun 12, 2024 · China’s legislature passed a new anti-sanctions law Thursday following the enactment of blocking rules earlier this year. In January, China’s Ministry of Commerce …

WebApr 9, 2024 · China’s recent personal and economic sanctions have sent a strong message to Europeans, but there are concrete ways for the EU to build up its resilience against economic coercion ... China’s Blocking Statute and export controls, for instance, could make life incredibly challenging for European companies if the European Union was on … WebJan 13, 2024 · On January 9, 2024, the Ministry of Commerce of the People’s Republic of China issued the MOFCOM Order No. 1 of 2024 on Rules on Counteracting Unjustified …

WebJun 11, 2024 · The NPC passed China’s new blocking statute, the Anti-Foreign Sanctions Law 中华人民共和国反外国制裁法 on June 10, 2024 (the “Law”). Xi Jinping signed the Law on the same day. Here is an unofficial translation . WebJan 21, 2024 · The Blocking Rules are intended to enable China to legally nullify the effect of US sanctions that may effectively apply extraterritorially. A multi-departmental working mechanism led by MOFCOM together with …

WebAug 30, 2024 · On June 10, 2024, the Standing Committee of the National People's Congress of China (SCNPC) enacted the Anti-Foreign Sanctions Law (AFSL). The AFSL is the third in a series of anti-foreign sanctions …

The Rules aim to block the unjustified extra-territorial application, in China and to Chinese persons and entities, of certain foreign legislation and measures. According to Article 2 of the Rules, the foreign legislation or measures would be blocked if the application was determined to unjustifiably prohibit or restrict the … See more According to Article 4 of the Rules, China will set up a new working mechanismto counteract the unjustified application of foreign legislation and measures. This working mechanism will involve the MOFCOM and other … See more MOFCOM will issue an official prohibition order to counteract the extra-territorial application of specified foreign legislation and other measures. Before the issuance of a prohibition order, the working mechanism shall … See more The counter-measures at the state-level raise much attention of the public. Article 12 provides Chinese government with “necessary counter-measures”. It is similar with the Article 48 of … See more Chinese entities are the main duty bearer under the Rules. It is worth mentioning that the branches of Multi-National Corporations (“MNCs”) located in China are also covered by the definition of Chinese entities and … See more ctm soundWebJan 12, 2024 · The Blocking Rules are formulated pursuant to the PRC National Security Law and other relevant laws. According to MOFCOM, the Blocking Rules’ primary purpose is to protect the legitimate rights ... earthquake san luis obispo caWebJun 18, 2024 · A basic understanding of the EU Blocking Statute sheds some light on the Anti-Foreign Sanctions Law, since both laws are aimed at counteracting the impact of … earthquake san francisco bay area today ct ms officeWebJun 11, 2024 · June 11, 2024, Covington Alert. On June 10, 2024, China enacted the Law on Countering Foreign Sanctions (the “ Law ”) to deflect and disincentivize the growing … earthquake san francisco todayWebJan 13, 2024 · On January 9, 2024, the Ministry of Commerce ("MOFCOM") of the People’s Republic of China ("PRC") issued Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures (the “Blocking Rules”), which are effective immediately. The Blocking Rules will serve as countermeasures to US and … ctmsp aramarWebJun 30, 2024 · Join Giovanna M. Cinelli and K Lesli Ligorner, international trade and sanctions practitioners based in the United States and China, respectively, to discuss the impact of the Blocking Statute and Anti … earthquake santa cruz