Definitions for "Block quote"
a citation of more than a sentence or two that is identified graphically by indentation on both sides, so that the indentation distinguishes it from the surrounding prose as clearly as quotation marks would
This is used to create quotations. The quotations are normally indented to set them off from other text as follows: "this lady is not for turning."- M. Thatcher (PM 1979-1991).
A typical rendering might be a slight extra left and right indent, and/or italic font. The BLOCKQUOTE typically provides space above and below the quote.