UK publishes guidance on retaining the blocking regulation after Brexit

On 19th November 2020, the United Kingdom’s Department for International Trade published guidance on how the blocking regulation will function after Brexit. Currently, the blocking regulation protects the trading interests of EU persons trading with countries affected by the extraterritorial application of certain laws, namely current US sanctions against Iran and Cuba. From 1st January 2021, the Blocking Regulation (Council regulation (EC) 2271/96) and Implementing Regulation (Commission Implementing Regulation (EU) 2018/1101) will form part of the retained EU law applying in the UK. For further details, please see the guidance page.