The U.K. last week updated a general license authorizing insolvency-related payments and activities involving Russian aircraft leasing companies GTLK Europe and GTLK Capital. The changes add new definitions for "notes, Noteholders, Trustee, Relevant non-UK Institution, UK Prohibited Persons and UK Prohibited Persons Account," clarified that certain funds must be held in frozen accounts, revised a notification requirement and a record-keeping requirement, and added a new reporting requirement.
The European Commission is adding multiple countries to its list of high-risk jurisdictions with “strategic deficiencies” in their national anti-money laundering and countering the financing of terrorism regimes. The additions are Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela. The EU also will delist Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda and the United Arab Emirates.
The Council of the European Union on June 12 decided to grant "equivalence" with EU requirements to Ukraine and Moldova regarding field inspection and seed production standards for various seeds. In Ukraine, the EU extended the equivalence to seeds of beet, sunflowers, swede rape and soya beans made and certified in that country. In Moldova, the council granted the equivalence to seeds of fodder plants.
The Council of the EU on June 12 imposed tariffs on agricultural products and fertilizers from Russia and Belarus that weren't subject to the additional customs duties thus far imposed on related products. The council said the goal is to "reduce EU dependence on those imports" and "reduce Russian export revenues" in a bid to limit Russia's ability to fund its war against Ukraine.
The European Commission on June 12 imposed definitive antidumping duties of 131.1% on vanillin from China, the Directorate-General for Trade and Economic Security announced. Vanillin is a flavoring used in foods, perfumes and pharmaceuticals, the commission said.
EU member state representatives have finalized their negotiating position on updated foreign direct investment screening rules and are aiming to soon reach an agreement with the European Commission and Parliament on the final text, the Council of the European Union said.
The European Commission on June 11 imposed countervailing duties ranging from 3.7% to 8.1% on fiber-optic cables from India. The commission said the duties were imposed following an anti-subsidy investigation that found that Indian exports are harming the EU industry. The duties come in addition to antidumping duties on the same products and AD/CVD on Chinese fiber-optic cables.
European countries still have "very different" levels of research security practices in place to protect against threats from China and other adversarial nations, University of Manchester researchers said in a new report. While some countries have "mature research security policies and practices," others are at an earlier stage, while "no country can be said to have institutionalised research security practices across its whole research system."
EU member states, along with the bloc's Agency for Law Enforcement Cooperation, met in Lithuania last week to discuss ways to strengthen export enforcement of dual-use goods sent to Russia, Lithuania's customs office said. The countries said they want to better "identify organized criminal groups and prevent illegal profit-making," and they also discussed ways to more "promptly" share information about how bad actors are evading sanctions, the notice said, according to an unofficial translation. They specifically examined sanctions evasion methods in the Baltic Sea region. The meeting featured customs and law enforcement representatives from Lithuania, Latvia, Estonia, Poland, Finland, Denmark, Germany, Bulgaria and the Czech Republic.
The European Commission on June 4 set up a new surveillance tool to shield the EU against "sudden and potentially disruptive surges in imports." The tool provides the commission with "fact-based information building on customs data," enabling it to take action against import surges that occur when a "significant amount of goods that cannot enter other markets due to high tariffs and other restrictions are redirected into the EU."