The Council of the European Union and the European Parliament have reached a provisional deal on regulations banning forced labor in European Union supply chains. The legislative proposal supports the EU’s goals of prohibiting the use of forced labor in manufacturing, applying to both manufacturing within Europe and also to goods imported from abroad. This
The EU CBAM Transitional Period Begins: A Practical Guide for EU Importers
By Vassilis Akritidis & Oleksii Yuzko on
Posted in CBAM, European Union (EU)
- Key takeaway #1 The CBAM is an important element of the EU’s green agenda efforts, and the current transitional period should serve the purpose of learning and improving the CBAM scheme.
- Key takeaway #2 The CBAM provides for a complex set of calculation methodologies with the possibility to use under
New EU/UK Restrictions on Russian-origin Iron and Steel Products
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…
How to Meet the New Notification Obligations Under the EU Foreign Subsidies Regulation
By Karel Bourgeois, Karl Stas & Benjamin Geisel on
- 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
Reforming the Union Customs Code: a proposal from the European Commission towards harmonizing European Union customs digitalization
By Vassilis Akritidis & Oleksii Yuzko on
Posted in European Union (EU), Union Customs Code
- Key takeaway #1 The European Commission has proposed reforming the Union Customs Code to strengthen the legal framework for customs and bring it into line with recent changes in IT technologies and e-commerce while improving the harmonization of EU customs rules.
- Key takeaway #2 In principle, customs digitalization should be
Sanctions/Export Highlights [As of June 23, 2022]
Posted in Uncategorized
New UK Sanctions: The UK announced a new tranche of restrictions on June 22, 2022, which became effective on Thursday, June 23, 2022. As summarized on the UK government’s website, the latest prohibitions include the following:
Export Restrictions
Prohibitions on the export, supply and delivery, making available and transfer (as well as related technical…