33 Ariz. J. Int'l & Comp. L. 631 (2016)
Extraterritorial Economic Sanctions and Their Foundation in International Law

handle is hein.journals/ajicl33 and id is 669 raw text is: 





     EXTRATERRITORIAL ECONOMIC SANCTIONS AND THEIR
               FOUNDATION IN INTERNATIONAL LAW

                            Susan Emmenegger*

                            TABLE OF CONTENTS

I. IN TRODUCTION      ................................................................................................. 632

I. US PROSECUTION OF BNP PARIBAS ................................................................. 633
   A . The Facts  of the  C ase  ................................................................................ 634
   B . European    R  eaction  ..................................................................................... 635
   C. The Relevance of International Law .......................................................... 636

II. WHAT IS EXTRATERRITORIAL JURISDICTION9 .............................................. 637
   A . N o  T erritorial N  exus .................................................................................. 639
   B. No Substantial Territorial Nexus ............................................................... 640
   C. No Exclusive Territorial Nexus ................................................................. 642
   D. Need for a Broad Concept of Extraterritoriality ........................................ 643

III. WHEN IS EXTRATERRITORIAL JURISDICTION LEGAL9 .................................... 644
   A. Territoriality as the Starting Point ............................................................. 645
   B. Extending the Territoriality Principle ........................................................ 646
   C. The Personality Principle ........................................................................... 649
   D . The Protective   Principle   ............................................................................ 651
   E. The Universality Principle ......................................................................... 653
   F. Extraterritoriality Is Often Legal ................................................................ 654

IV. BNP PARIBAS REVISITED .............................................................................. 654
   A. Correspondent Account Jurisdiction .......................................................... 654
   B . E ffects  Jurisdiction   .................................................................................... 656
   C. Protective and Universal Jurisdiction ........................................................ 658

V . C ON CLU   SION   ................................................................................................... 659






        Hauser Global Fellow       2015/2016, NYU        School of Law; Director, Institute of
Banking Law, Bern University, Switzerland. The author wishes to thank Eva Stokar von
Neuforn and Leonie Luterbacher for their helpful research assistance. Also thank you to
Geoffrey Miller, Kevin Davis, Un Kyung Park, Jennifer Hill, Fabio Morosini, Yoon Jin
Shin, Jing Tao, Shreya Atrey, Frederick Wilmot-Smith, Asem Khalil, Machie Murata and
the other participants of the Global Fellows Forum for their comments and observations.

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