- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The European Union has taken steps to protect EU companies from any legal and financial repercussions from investing in Iran as a result of U.S. President Trump’s latest sanctions.
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A new executive order issued in January places additional sanctions on a much broader portion of Iran’s economy and, from a compliance and risk management standpoint, puts a broader range of companies in the crosshairs of U.S. enforcement.
The E3 has set up a special trade channel designed to allow companies in the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran.
The data protection authority of Lithuania levied a fine of 2.4 million euros (U.S. $2.6 million) against Vinted UAB, an online clothing trading and exchange platform, for alleged violations of the European Union’s General Data Protection Regulation.
