EU Says No Debanking The European Court of Justice ruled on June 11 that EU banks cannot refuse customers basic accounts based solely on their name appearing on a U.S. sanctions list. The judgement puts limits on the extraterritorial reach of American sanctions within the EU legal order. The case resulted from Slovenian bank Nova Kreditna Banka Maribor refusing to open an account for a customer whose name appeared on the U.S. Treasury’s sanctions list. The Court explained the customer had ...
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