New Stage of EU Sanctions Policy: Extraterritorial Measures

.... The most painful blow fell on the banks. The amount of fines they have paid has exceeded $5 billion over the past decade. Secondary sanctions were taken seriously by Brussels as a problem. In November 2020, the report of the EU Directorate General ... ... Strategy was to promote financial and economic cooperation with third countries, including in connection with the application of extraterritorial sanctions. The European Commission, in cooperation with the European Central Bank and European supervisory authorities,...