2019.01.17 – ECJ judgement in case C-168/17, a preliminary ruling request in connection with Libyan sanctions

Attached is the text of the judgement. The judgement: (i) clarifies what shall be considered as “indirect” provision of funds/economic resources to blocked persons in the context of a chain of back-to-back contracts (in the case at hand – a guarantee and two counter-guarantees where the ultimate beneficiary was a blocked person); and (ii) the scope of exculpatory provisions in the EU sanctions.