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From September 30, 2023, new EU and UK sanctions will come into effect targeting the imports of specified iron and steel products which are processed in third countries and incorporate Russian-origin iron and steel inputs. Importers will need to declare upon import whether the imported goods are compliant (and be prepared to provide evidence demonstrating…

What You Need to Know

  • Key takeaway #1 As of October 12, 2023, companies active in the EU have to notify foreign financial contributions (FFCs) received from third countries to the Commission, when they engage in large M&A transactions or participate in high-value public procurements. Pending the Commission’s review of such notifications, a standstill obligation
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Tamara Capeta, Advocate General of the Court of Justice of the European Union, has given her opinion regarding the scope of the EU Foreign Direct Investment Screening Regulation. AG Capeta considers the Regulation to cover not only acquisitions by foreign (non-EU) investors, but also the acquisition of one EU undertaking by another, if the acquirer…

The European Union has filed a legal challenge before the World Trade Organization against China’s use of “anti-suit injunctions” (ASIs) to restrict EU holders from enforcing standard-essential patents against Chinese companies in any non-Chinese court. The EU’s request for the establishment of a WTO panel challenges Chinese court-issued ASIs as they “forbid patent holders to…

Russia Sanctions:  There were limited developments this week.  There has been speculation that the EU would release its sixth round of sanctions against Russia, but no updates have been reported thus far.  The new package of sanctions is still expected soon.  The U.S. and UK also did not expand their list of designations this…

On February 23, 2022, the European Commission adopted a new proposal for a directive on corporate sustainability due diligence. The proposed directive specifically focuses on corporate responsibility in global supply chains with regards to human rights – such as child and forced labor – and the environment. This proposed directive comes nearly a year after…

On October 31, 2021, the Office of the United States Trade Representative (USTR) announced that the United States would be replacing the existing 25% tariff on EU steel and 10% tariff on EU aluminum under Section 232 with a tariff-rate quota (TRQ). As such, eligible products that are within the quota will be able to…