The EU on Oct. 16 issued updated FAQs about its dual-use export control regulations and its import ban on refined petroleum products that contain Russian crude oil. The export control FAQs cover due diligence and compliance obligations for EU exporters, as well as other guidance to help companies comply with the rules. The Russia oil FAQs outline the circumstances under which EU companies need to carry out "enhanced" due diligence to make sure an imported refined oil product doesn't contain Russia-origin oil.
The EU continued to largely approve most foreign direct investment deals submitted to its investment review cooperation mechanism, the European Commission said in its annual report on FDI, released this week.
Deutsche Bundesbank, the national central bank of Germany, recently published guidance to help customers and other operators comply with new snapback sanctions on Iran (see 2509290051). The bank stressed that all provisions of funds to sanctioned Iranian people or entities are blocked, and certain payments designed to send certain goods and technologies to Iran are "generally prohibited, such as certain goods, software and technologies that could contribute to Iran's military and technological strengthening," according to an unofficial translation. Other portions of the guidance outline potential exemptions, reporting requirements related to money transfers, and more.
The U.K. announced a host of new Russia-related sanctions this week, targeting major energy firms Rosneft and Lukoil, along with four oil terminals in China, 44 tankers in Russia’s shadow fleet and more. The U.K. also said it’s banning imports of oil products refined in third countries using Russian-origin crude oil.
Poland on Oct. 10 sanctioned Armen Harutyunyan, who it said manages companies that export nitrogen fertilizers from Belarus to Poland and other EU countries. Harutyunyan is or was the owner or controller of Polish company TST PL, United Arab Emirates-based World Chem Trading Co. and Belarus-based Technospetstrading, Poland said. He's also the indirect owner of Belarus-based Technospetstradingexport LLC.
The Council of the European Union on Oct. 13 agreed to eliminate customs duties on various agricultural products from Ukraine, including dairy products, fresh fruits and vegetables, meat and meat preparations, the council said.
The U.K.’s ongoing public consultation about how it can improve its civil enforcement of financial sanctions (see 2507220056) -- including whether it should increase its maximum penalty amounts -- could lead to “greater scrutiny” and more investigations, Akin said this week in a client alert.
The U.K.'s Office of Financial Sanctions Implementation last week updated its open general license for certain trade among the AUKUS nations of Australia, the U.K. and the U.S. The update includes new text on the "Authorised User Community and clarification on F680 requirements," the U.K. said. "It also makes updates to the items not permitted by the licence, including additional nerve agents, prototypes for naval nuclear propulsion plant, test and maintenance equipment and test models for naval nuclear propulsion plant and prototypes."
The European Commission recently launched a new platform called the Responsible Mineral Information System, or ReMIS, to "increase transparency" in mineral supply chains. The voluntary system lets "economic operators" register and share their "due diligence policies and initiatives to ensure responsible sourcing of metals and minerals" and share best practices with the public, the commission said. The commission said it "has no impact on any legal obligations that economic operators may have under EU due diligence legislation."
The European Commission announced a new proposal Oct. 6 to shrink the size of its tariff-rate quota for steel to 18.3 million tons a year and double the tariff rate for out-of-quota steel to 50%. The proposal would decrease the quota by 47% from 2024 and double the current 25% tariff rate applicable to out-of-quota steel.