Piercing Corporate Veil in EU laws and Legal Precedent in Relation to Sanctioning the Subsidiaries of National Iranian Company
Nuclear-related economic sanctions of EU against Iran were a set of restrictive measures which the negative impact of these measure was felt more in Iran’s oil and gas sector, as the main income generating sector of Iran’s economy. These sanctions were applied to the extend that the designated entities were not only prohibited from doing any transaction with elements of the EU jurisdictions, but also all their assets and economic resources were frozen. This article reviews the relevant laws and legal precedent which has been formed over the sanction’s disputes and delisting cases and by studying the legal elements of designating an entity and the legal situation of Iranian oil companies under EU Sanctions, presents a better picture of the reason and logic behind listing of Iranian oil companies in the EU list of designated entities.
Journal of Research Energy Law Studies, Volume:5 Issue:1, 2019
43 - 60
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