The European Commission on May 7 extended its antidumping and countervailing duties on cold-rolled stainless steel from Indonesia to cover Taiwan, Turkey and Vietnam, the Directorate-General for Trade announced. The commission said the extension of the measures is needed to "ensure the efficacy of the original measures on stainless steel from Indonesia."
Sullivan & Cromwell last week announced that it's creating a national security practice focusing on economic sanctions, anti-money laundering laws, Foreign Corrupt Practices Act investigations, foreign investment regulations, export controls and import restrictions.
Houston residents Muzzamil Zaidi and Asim Mujtaba Naqvi pleaded guilty last week for their role in a scheme to send money to Iran without permission from the Office of Foreign Assets Control, DOJ announced.
World Trade Organization members taking part in the Committee on Rules of Origin's April 29 meeting discussed ways to improve the "functioning of the committee" and use digital tools to "facilitate the work of delegates," the WTO said. Members discussed various measures to improve the committee, which included revamping the "rules of origin gateway page on the WTO website" by adding a guide for new delegates on the committee's work and an events page.
The EU and Japan on May 2 wrapped up the fifth EU-Japan High Level Economic Dialogue, announcing an initiative to work more closely on sustainable supply chains, the European Commission said. The two countries noted the need for collaboration on "climate change, energy security, cyber security and stability of supply, based on jointly agreed principles." The dialogue also stressed the importance of making sure the World Trade Organization "is reformed."
The U.K. Office of Financial Sanctions Implementation on May 1 published frequently asked questions regarding its sanctions regimes, which are meant to be "supplementary to, and not a replacement for, OFSI's primary guidance." The page includes 91 FAQs covering general sanctions questions, the restriction on Russia, the Russian oil services ban, Libya, general licensing, definitions and crown dependencies and overseas territories. Forty-four FAQs pertain specifically to the Russia sanctions.
The U.K. on April 30 updated its general sanctions license permitting humanitarian activity in Israel and occupied Palestinian territories. The license was extended a year, until May 14, 2025, and the U.K. said reporting to the Office of Financial Sanctions Implementation should be submitted no later than Nov. 13, 2024, for activities taken under the license before that date, and no later than June 14, 2025, for activities taken under the license prior to that date and after Nov. 13, 2024. The license also added the Disasters Emergency Committee as an entity that can conduct humanitarian activities in the covered regions.
Malta's Sanctions Monitoring Board said that Dubai-based virtual casino company ArabMillionaire Limited violated sanctions compliance requirements, though the national authority didn't provide details about the nature of the violation or the extent of the penalty. The board invoked Article 17(6) of the National Interest (Enabling Powers) Act, which requires companies to routinely check sanctions lists and have internal controls in place to ensure sanctions compliance.
An EU-New Zealand trade agreement that eliminates tariffs on EU goods such as "pig meat, wine and sparkling wine, chocolate, sugar confectionary and biscuits," entered into force May 1, the European Commission announced. Under the deal, "sensitive EU agricultural products such as beef, sheepmeat and dairy products are protected with carefully designed tariff rate quotas." EU investors will also receive nondiscriminatory treatment in New Zealand and EU companies will receive greater access to New Zealand procurement contracts, the commission said.
Brooklyn, New York, resident Nikolay Grigorev pleaded guilty April 30 for his role in a scheme to illicitly export electronic components from the U.S. to companies linked to the Russian military, DOJ announced.