The following document is released in conjunction with the EU-US Summit
in London on May 18, 1998.
EU UNILATERAL STATEMENT
The EU welcomes the decisions and statements made today relating to the
Helms-Burton and Iran/Libya Sanctions Acts. The EU considers that these,
including the US non-paper of 17 May, form a single package and, taken
together, offer the prospect of a lasting resolution of our differences
with the US over these Acts. The Understanding with Respect to Disciplines
for the Strengthening of Investment Protection and the Declaration on
the Transatlantic Partnership on Political Co-operation are important
political commitments and are of equal weight and status.
The EU recalls previous statements made in the General Affairs Council
which made clear our strong opposition based both in law and in principle
to the imposition of secondary boycotts and legislation with extraterritorial
effect and retroactivity. Today's announcements reflect no change in our
position, which is hereby confirmed.
Until the Disciplines for Strengthening Investment Protection are implemented,
and a waiver is granted to the EU under Title IV of the Helms-Burton Act,
we will continue to abide by the Understanding of 11 April 1997.
Thereafter, the EU will implement the disciplines for the strengthening
of investment protection, and will not establish a WTO Panel against the
US in respect of the Helms-Burton or Iran/Libya Sanctions Acts, in the
following circumstances:
- as long as the waiver of Title III of Helms-Burton remains in effect;
- if the waiver authority for Title IV described in II.4 of the Understanding
with Respect to Strengthening of Investment Disciplines has been exercised;
- provided no action is taken against EU companies or individuals under
the Iran/Libya Sanctions Act, and provided waivers under that Act are
granted.
For the EU, it is axiomatic that infrastructural investment in the transport
of oil and gas through Iran be carried out without impediment.
However, this commitment on the part of the EU will not apply if one
of the above conditions is not fulfilled or, by the time of the expiry
of the President's term of office, no waiver without specific time limit
in respect of Title III has been granted, as envisaged in II.5 of the
same Understanding.
18 May 1998
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