Opposition to European Union Extraterritorial Regulations Grows, Threatens Withdrawal from EU Markets

The Gulf Cooperation Council (GCC), a council representing energy-producing countries in the Middle East, voiced their strong opposition to onerous European Union regulations, stating that these regulations may force GCC companies to withdraw from the European Union market.

The GCC represents energy-rich countries such as the United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait. The GCC countries voiced their “deep concern” over two EU directives, the Corporate Sustainability Due Diligence Directive (CSDDD) and the Corporate Sustainability Reporting Directive.

“It would further oblige these companies to comply with…

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