The U.K.'s Office of Financial Sanctions Implementation extended and revised an Iran-related general license that authorizes certain transactions related to information technology providers and accountancy services. The license, which authorizes those transactions with certain Iranian financial institutions and certain parties designated under Iran's Nuclear Regulations, was scheduled to expire April 22 but now applies until Oct. 22. OFSI also amended the license's definition for IT providers to include "cybersecurity software services" and "operating system software services," and it added three new permissions to the license's scope.
The European Commission imposed antidumping duties on continuous filament glass fiber from Egypt, Bahrain and Thailand and on softwood plywood from Brazil, it announced April 15. The duties on continuous filament glass fiber stand at 11% for Egypt and 11.8% for Bahrain, and they range from 15.3% to 25.4% for Thailand. For the plywood imports, the duties stand at 5.4% for all Brazilian exporters, except for one company that was found not to have dumped products into the EU.
The U.K.'s Office of Financial Sanctions Implementation issued a new general license this week that authorizes certain insolvency-related payments and activities connected with Cambodia-based Prince Group, a criminal organization it sanctioned in March for operating a network of online scam centers (see 2510140005). The license also authorizes those payments with Prince Group subsidiaries and certain listed affiliates. It expires April 13, 2031.
New guidance released this week by the European Commission calls on EU customs authorities and traders to increase information sharing, which it said will help the bloc better detect illegal trade, drug trafficking and organized crime.
A political agreement was reached April 12 between the European Parliament and Council on a steel safeguard measure to protect against global overcapacity, the European Commission announced.
The European Commission on April 7 issued the first quarterly price for Carbon Border Adjustment Mechanism (CBAM) certificates for 2026, setting the initial reference level at 75.36 euros.
The U.K.’s Office of Financial Sanctions Implementation is extending the deadline to submit feedback on challenges that companies face when trying to determine whether a counterparty is owned or controlled by a sanctioned entity or person (see 2602180031). Comments were previously due April 13 but are now being accepted through April 20, the agency said this week, adding that the feedback will help it learn about “concrete examples” that show the "realities of sanctions compliance."
China's new supply chain security regulations include "unclear and vague provisions" that will cause new uncertainties for European businesses, the EU Chamber of Commerce in China said in a statement.
The U.K.'s Office of Financial Sanctions Implementation this week renewed a Russia-related general license that authorizes certain transactions between British companies and Maritime Mutual, a New Zealand marine insurer sanctioned by the U.K. earlier this year for its ties to Russian oil trade (see 2602240036). The license was scheduled to expire April 9 but was extended to July 8.
The U.K.'s Department for Business and Trade is seeking public comments on creating trade powers to help it better respond to foreign economic coercion. The comment period, open through June 18, seeks feedback from businesses, research and academic institutions, consultants, non-governmental organizations and international institutions about how the country should develop "potential new powers to respond to acts of adverse economic pressure against the UK."