EU Policy & Law
EU Court Limits Bank Action on US Sanctions
The Court of Justice of the EU (CJEU) has ruled that a bank in the EU cannot terminate a contract with a customer for the sole reason that the person is on a United States sanctions list. The judgment states that inclusion on such a list is not, by itself, sufficient grounds for termination. Banks must conduct their own risk assessment based on EU law and cannot simply automate decisions based on third-country policies. This landmark ruling protects EU citizens from arbitrary de-banking and asserts the primacy of the EU's legal framework over foreign sanctions.
CJEU rules that being on a US sanctions list isn't enough for an EU bank to close your account.