India Takes Into Consideration EU Blocking Law to Shield Against Foreign Sanctions
New Delhi is exploring the EU Blocking Law to safeguard Indian companies from disturbances triggered by international permissions, prompted by Microsoft’s suspension of solutions to Nayara Power.
- EU Law: A 1996 regulation shielding European firms from third-country sanctions.
- Trigger: Microsoft suspended IT services to Nayara Energy, pointing out assents.
- Financing Ministry Proposal: Recommends a domestic legislation or law.
- Objective: To stop India-registered suppliers from complying with foreign sanctions.
- Alternatives: India may call for important fields to make use of domestically-made sovereign cloud systems.