US sanctions and the right to use bank accounts in European banks for non-residents of the European Economic Area

2020 ◽  
Vol 7 (1) ◽  
pp. 86-93
Author(s):  
Vladimir A. Jilkine
Keyword(s):  
Real Estate ◽  
International Law ◽  
European Economic Area ◽  
Banking Services ◽  
Eu Countries ◽  
Economic Area ◽  
The Us ◽  
European Banks ◽  
The Right ◽  
The Eu

The article considers the decision of the Helsinki County court on the claim of a Finnish citizen to be granted the right to use banking services in Finnish banks from the international law perspective. The Helsinki district court, in its decision promulgated on 13.01.2020, rejected Boris Rotenbergs claim against Svenska Handelsbanken AB, Nordea Bank Abp, Danske Bank, and OP Yrityspankki Oyj. The court recognized the financial risks of a Finnish citizens Scandinavian banks under US sanctions above international law and fair trial guarantees. There is no doubt that this court decision will have further consequences in the judicial proceedings of Western banks for foreigners who do not permanently reside in the European economic area (EEA), and in other similar cases, and in ensuring the judicial practice unity in EU countries. First of all, this applies to any foreigners who do not have the right to permanent residence in the EU countries, but who have real estate in the form of investments or regularly come for a holiday. Previously, buying real estate in Europe was considered a reliable investment of foreign funds and a guarantee for obtaining banking services in Western banks. Based on this legal precedent, the European courts can now recognize the risks of secondary US sanctions against any banks, not only in the case of Russians from the SDN sanctions list, but also on any suspicion of money laundering by bank employees. The courts decision was based primarily on the testimony given by the former head of OFAC, who stated that even before the decision was made in 2017, the US administration already had a legal tool for punishing foreign individuals and legal entities who interact with Russians on the SDN sanctions list. As long as the US dollar is one of the main currencies in the settlements between the states, the US Treasury will control not only the dollar transactions, but also the very principle of the global banking system functioning. This court decision may become the first legal precedent for most European banks in the EU countries wherein the real estate of foreigners who do not live in the EEA countries is located, regardless of their citizenship and residence permit.

The EU Citizenship Directive: A Commentary

2019 ◽  
Author(s):  
Elspeth Guild ◽  
Steve Peers ◽  
Jonathan Tomkin
Keyword(s):  
Member State ◽  
Detailed Analysis ◽  
European Commission ◽  
Case Law ◽  
Free Movement ◽  
European Economic Area ◽  
Court Of Justice ◽  
Economic Area ◽  
The Right ◽  
The Eu

The EU Citizenship Directive defines the right of free movement for citizens of the European Economic Area. It applies to EU citizens and their family members who move to visit or reside in another Member State. This might at first seem like a straightforward definition, but immediately questions arise. Who determines if a person is an EU citizen at all? What about dual citizens of two Member States, or of one Member State and a non-Member State (a ‘third State’)? What is the position of EU citizens who move to one Member State, and then return to their home Member State? This book provides a comprehensive commentary of the EU’s Citizens’ Directive tracing the evolution of the Directive’s provisions, placing each article in its historical and legislative context. Special emphasis is placed on highlighting the connections and interactions between the Directive’s constituent provisions so as to permit a global appreciation of the system of free movement rights to which the Directive gives effect. Each provision is annotated containing a detailed analysis of the case law of the Court of Justice as well as of related measures impacting upon the Directive’s interpretation including European Commission reports and guidelines on the Directive’s implementation.

scholarly journals Banishing dominance in Europe: The case for regional cosmopolitanism

2019 ◽  
Vol 26 (3) ◽  
pp. 742-766 ◽  
Author(s):  
Erik O Eriksen
Keyword(s):  
European Union ◽  
International Law ◽  
Economic Integration ◽  
Political Freedom ◽  
European Economic Area ◽  
The European Union ◽  
Complex Interdependence ◽  
Economic Area ◽  
Arbitrary Rule ◽  
The Eu

How is arbitrary rule – dominance – to be avoided when political differentiation is on the rise in the multilevel constellation that makes up the European Union? The EU is a power-wielding entity, that, due to its democratic deficits, is an instance of arbitrary rule, which differentiation only serves to exacerbate. This article discusses which political framework prevents dominance under conditions of asymmetric and complex interdependence, and economic integration in Europe. Under these conditions, the framework of international law is deficient, as the agreements with the associated non-members – the European Economic Area Agreement (EEA) and Switzerland – document. Here dominance appears to be self-incurred but nevertheless in breach with political freedom. Another is the framework suggested by Jürgen Habermas, of a pouvoir constituant mixte. Also, this framework raises the danger of arbitrary rule, as there is a risk that the autonomy of citizens would be pre-empted by the sovereignty of their states. The article holds the framework of a regional cosmopolitan federation – a rights-based polity with a distinct territorial reach – as more promising.

Constitutional and Legal Restrictions in the European Union Countries in the Context of the COVID 19 Pandemic

2020 ◽  
pp. 92-97
Author(s):  
A. V. Kuznetsov
Keyword(s):  
European Union ◽  
Human Rights ◽  
Comparative Analysis ◽  
International Law ◽  
The European Union ◽  
Eu Countries ◽  
European Union Countries ◽  
Legal Restrictions ◽  
Restrictive Measures ◽  
The Eu

The article examines the norms of international law and the legislation of the EU countries. The list of main provisions of constitutional and legal restrictions in the European Union countries is presented. The application of the norms is described Human rights conventions. The principle of implementing legal acts in the context of the COVID-19 pandemic is considered. A comparative analysis of legal restrictive measures in the States of the European Union is carried out.

The EU Influence on Norwegian Domestic Legislation for the Protection of the Arctic Marine Environment

2018 ◽  
Vol 33 (2) ◽  
pp. 415-435 ◽  
Author(s):  
Elise Johansen
Keyword(s):  
European Union ◽  
Marine Environment ◽  
The Arctic ◽  
European Economic Area ◽  
The European Union ◽  
Environmental Legislation ◽  
Economic Area ◽  
Domestic Legislation ◽  
Marine Areas ◽  
The Eu

Abstract In the last several decades, the European Union (EU) has demonstrated its intention to play an important role in supporting Arctic cooperation and helping to meet the challenges now facing the region. Norway, one of the five Arctic coastal states, and the EU have cooperated closely in this regard, particularly through the Agreement on the European Economic Area (EEA Agreement). This article examines how Norway’s domestic legislation applicable to its Arctic marine areas has been influenced by the development of EU environmental legislation. Specifically, this paper provides a discussion and analysis of the relevant Norwegian laws and mechanisms used to regulate how EU environmental legislation has been incorporated into Norway’s domestic legislation through the EEA Agreement.

scholarly journals Risk of hospitalization and risk of death for healthcare workers with COVID-19 in nine European Union/European Economic Area countries, January 2020–January 2021

2021 ◽  
Author(s):  
Lisa Ferland ◽  
Joana Gomes Dias ◽  
Carlos Carvalho ◽  
Cornelia Adlhoch ◽  
Carl Suetens ◽  
...  
Keyword(s):  
European Union ◽  
Healthcare Workers ◽  
European Economic Area ◽  
European Economic ◽  
Adjusted Risk ◽  
Risk Of Death ◽  
Economic Area ◽  
The Impact ◽  
The Eu

AbstractWe assessed the impact of COVID-19 on healthcare workers (HCWs) from data on 2.9 million cases reported from nine countries in the EU/EEA. Compared to non-HCWs, HCWs had a higher adjusted risk of hospitalization (IRR 3.0 [95% CI 2.2-4.0]), but not death (IRR 0.9, 95% CI 0.4-2.0).Article Summary LineHealthcare workers are hospitalized more frequently than non-healthcare workers when adjusting for age, sex, and comorbidities.

European Union Public Procurement Remedies Regimes

2012 ◽  
pp. 162-184
Author(s):  
Kai Krüger
Keyword(s):  
European Union ◽  
Public Procurement ◽  
European Economic Area ◽  
European Economic ◽  
Eu Member States ◽  
Eu Directive ◽  
Court Of Justice ◽  
Economic Area ◽  
Set Up ◽  
The Eu

The chapter explores the Nordic statutory EU-based remedy regimes. Due to the European Economic Area (EEA) agreement, the EU commitments do not vary between EU member states, Denmark, Finland, and Sweden and (non-members) Norway and Iceland. The legislation on procurement remedies is assumed to be EU/EEA compliant. There are however material differences in the set up for handling disputes and complaints—also subsequent to the 2010-2012 Nordic adaptation of EU Directive 2007/66/EC on enhanced procurement remedies. The pending issue is whether the EU “sufficiently serious breach” principle on treaty infringements applies on liability for procurement flaws. Loss of contract damage has been awarded in all Nordic countries, whereas cases on negative interest (costs in preparing futile tender bids) seem more favorable to plaintiffs. Per mid-2012, there are no Nordic rulings on the effect of the recent somewhat ambiguous EU Court of Justice Strabag and Spijkers 2010 rulings.

Judicial Review

2016 ◽  
Author(s):  
Michael Schillig
Keyword(s):  
Judicial Review ◽  
Due Process ◽  
Fundamental Rights ◽  
Bank Resolution ◽  
The Us ◽  
Charter Of Fundamental Rights ◽  
Us Constitution ◽  
Takings Clause ◽  
The Right ◽  
The Eu

The exercise of extensive powers by authorities during the recovery and resolution process may interfere with constitutionally protected fundamental rights of stakeholder in a multitude of ways. Particularly relevant are the right to conduct a business and the right to property under the EU Charter of fundamental rights, as well as the takings clause under the US constitution. A balance needs to be struck between the aims and objectives of bank resolution and the rights of investors and the requirements of due process. This is normally achieved through expedited and limited judicial review. This chapter assesses whether and to what extent the respective procedures are in line with constitutional and fundamental rights requirements.

THE PITFALLS OF UNILATERAL LEGISLATION IN INTERNATIONAL LAW: LESSONS FROM CONFLICT MINERALS LEGISLATION

2020 ◽  
Vol 69 (3) ◽  
pp. 685-717
Author(s):  
Phoebe Okowa
Keyword(s):  
Natural Resources ◽  
International Law ◽  
Civil Disobedience ◽  
The United States ◽  
Conflict Zones ◽  
Human Rights Abuses ◽  
Conflict Minerals ◽  
Meaningful Participation ◽  
The Right ◽  
The Eu

AbstractThis article examines the compatibility of the extraterritorial application of unilateral legislation with the project of international law. Focusing on two instruments, the Dodd-Frank Act passed by the United States Congress and intended to regulate the activities of US listed companies operating in the Congo and the EU conflict minerals legislation, the article challenges their underlying premises that revenues from natural resources perpetuate conflict and resulting human rights abuses. In so far as these instruments make no provision for meaningful participation by the foreign populations which are the objects of legislation, it is argued that there is a tension between these unilateral instruments and the basic premises of law-making in international law as a democratic enterprise centred around governmental representation. By exclusively directing sanctions and other disciplinary measures at rebels, both legislative instruments have the problematic effect of strengthening the exploitation of natural resources by kleptocratic regimes and undermining the right of populations in conflict zones to civil disobedience as an inescapable component of their right of self-determination.

Blockchain-Based Voting in the US and EU Constitutional Orders: A Digital Technology to Secure Democratic Values?

2019 ◽  
Vol 10 (2) ◽  
pp. 330-358
Author(s):  
Desmond JOHNSON
Keyword(s):  
Civic Participation ◽  
Political Process ◽  
Democratic Legitimacy ◽  
Public Confidence ◽  
Political Processes ◽  
Blockchain Technology ◽  
The Us ◽  
Right To Vote ◽  
The Right ◽  
The Eu

The right to vote and participate in the political process is a quintessential feature of any democratic society. Systematic risks to the integrity of US elections and passive civic participation in the EU political process present fundamental threats to the constitutional aspirations and the democratic ideals connected to “We the People” in the US and “United in Diversity” in the EU. The existence of power imbalances, social inequalities and information asymmetries in electoral and political processes illustrate that both jurisdictions are in peril and in risk of democratic backsliding. Blockchain-based voting can transform existing electoral and political processes in the digital age. This raises the question whether blockchain-based voting can be utilised as a digital tool to enhance the democratic legitimacy of US and EU electoral and political systems. Accordingly, this article aims to examine the prospects and limits of blockchain technology to secure foundational democratic norms connected to the right to vote and civic participation at the heart of contemporary constitutionalism. It contends that the decentralised, immutable, accessible, transparent, and secure processes of blockchain technology have the potential to enhance the legitimacy of the US and EU constitutional orders, since blockchain-based voting can act as a forum for enhanced civic participation, public deliberation, and democratic contestation. Nevertheless, the article concludes that a number of important steps must be taken to fully realise the potential of blockchain-based voting in a manner that combats the risks associated with the technology, strengthens public confidence in electoral and political processes and secures a balanced system of governance in the US and the EU constitutional orders.

Growth and Productivity Accounts from EU KLEMS: An Overview

2007 ◽  
Vol 200 ◽  
pp. 64-78 ◽  
Author(s):  
Marcel P. Timmer ◽  
Mary O'Mahony ◽  
Bart van Ark
Keyword(s):  
Productivity Growth ◽  
Data Sources ◽  
Preliminary Results ◽  
Eu Countries ◽  
The Us ◽  
Eu And Us ◽  
The Eu

This paper gives an overview of the construction of and preliminary results from the EU KLEMS database which contains industry estimates of output, input and productivity growth for EU countries. The paper begins with a discussion of methodology and data sources covering output and intermediates, capital and labour services. The content and scope of the database is then briefly described. This is followed by a discussion of preliminary results focusing on comparisons between the EU and US. These confirm the relatively poor productivity performance of the EU relative to the US since the mid-1990s, mostly driven by low productivity growth in market services.

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