Remove Article 5(2) from the Blocking Statute: Close the Loophole, Protect EU Sovereignty
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text of the petition
The European Union has a law called the Blocking Statute (Council Regulation (EC) No 2271/96) designed to protect EU companies from illegal foreign sanctions. However, Article 5(2), added in 2018, creates a loophole: it allows the European Commission to authorize EU companies to comply with foreign sanctions if non-compliance would "seriously damage their interests." This defeats the law’s purpose. We demand the removal of Article 5(2) to restore the Blocking Statute’s protective function.
Without this change, EU businesses remain vulnerable to US coercion. BNP Paribas paid $8.9 billion, ING paid hundreds of millions in fines. The US has sanctioned ICC officials and even an Italian tech collective, forcing EU providers to cut ties. The European Parliament has repeatedly called for action, but the Commission has stalled since 2021. If we do not close this loophole, the EU will continue to fail in defending its sovereignty, its businesses, and its values against foreign pressure.