DUBLIN, (Reuters) – Ireland’s Data Watchdog will consult EU regulators on April 12th regarding its probe into Facebook (NASDAQ) data transfers. It is moving closer towards a decision that could hammer transatlantic businesses if it blocks data flows from the EU and the United States.

The highest European court ruled that the EU-U.S. Data Transfer Agreement was invalid in 2020. This decision was based on surveillance concerns.

This prompted Ireland’s Data Protection Commission to issue a temporary order saying that Facebook’s data transfer mechanism from the European Union to the United States was “not practicable.”

Following a Facebook challenge in the Irish High Court, the order was temporarily frozen. The court dismissed Facebook’s claims last May.

Facebook warns that any stoppage can have devastating and irreversible effects on its business. The company relies upon user data in order to deliver targeted online ads. DPC warned that disruptions could also be caused by other businesses.

Due to Ireland’s location as the EU’s main regulator for Facebook, the DPC issued a revised preliminary decision Monday. Meta Platforms, the Facebook owner, has 28 days in which to reply.

DPC refused to provide details about its revised conclusions.

The EU Data Protection Rules require that the DPC shares the decision with any EU supervisory authority and takes into account their opinions before issuing the final verdict.

DPC spokeswoman said that the updated findings will be shared with EU regulators by April.

Meta spokesperson confirmed that it received the updated version.

She stated that “Spending data transfers would not only be detrimental to the millions, charities and businesses in Europe who use our services but also to the thousands of companies which rely on EU data transfers to deliver a global service.”

To keep individuals, companies and economies connected to the US-EU data transfer system is necessary for a long-term solution.