EU Expands Sanctions Regime Against Republic of Belarus After 14th Package of Sanctions on Russia

Sanctions

On 29 June 2024, the Council of the EU extended its restrictive measures against Republic of Belarus (Belarus) due to its involvement in Russia’s continued aggression against Ukraine. These measures aim to prevent Belarus from facilitating the evasion of sanctions against Russia and are in line with the EU’s recent efforts to strengthen existing prohibitions introduced by the 14th package of sanctions.

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BIS Amends the EAR to Expand Sanctions Against Russia and Belarus and Over 300 New Sanctions Designations

On June 12, 2024, the US Department of Commerce Bureau of Industry and Security (BIS) imposed additional export control measures against Russia and Belarus by expanding the scope of items subject to the Export Administration Regulations (EAR) sectoral sanctions. The amendments to the EAR were issued in conjunction with the issuance of sanctions against over 300 individuals and entities by the Department of Treasury Office of Foreign Assets Control (OFAC) and the Department of State.  

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Commerce Issues First “Final Determination” Under ICTS Supply Chain Rules, Banning Kaspersky Software Products from U.S. Commerce

On June 20, 2024, the Department of Commerce’s Bureau of Industry and Security (“Commerce”) announced the issuance of the first Final Determination (“Determination”) under Executive Order 13873 – Securing the Information and Communications Technology and Services (“ICTS”) Supply Chain. The Determination, which was published in the Federal Register on June 24, 2024, imposes a prohibition on transactions by Russian-affiliated Kaspersky Lab, Inc.’s (together with all affiliates, subsidiaries, and parent companies, collectively “Kaspersky”) involving the “provision of cybersecurity and anti-virus software and related services to persons subject to the jurisdiction of the United States” (the “Kaspersky Transactions”).

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EU’s First M&A Investigation: A Step Forward in Foreign Subsidies Oversight

The European Union is intensifying its scrutiny of foreign investments under the 2023 Foreign Subsidies Regulation (FSR). As the latest development, the European Commission has announced this week that it has opened an investigation into a proposed acquisition by e&, the UAE state-owned telecom operator, of the assets of the Czech telecom company PPF Telecom. The European Commission has until 15 October 2024 to make a decision.

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The Russian Federation’s Introduced Compensation Protocol in Response to the Unfriendly Acts of the US

The government of the Russian Federation is taking specific actions to establish a special procedure for compensation of damage caused by the US. Thus, this new procedure enables “Russian Rights Holders” (i.e., holders of damaged rights of the Russian Federation and/ or the Russian Central Bank) to address Russian courts with a statement claiming having been unfairly deprived of their property rights due to the decision of a state or a judicial body of the US, and to request compensatory damages.

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New US Trade Action Against Disposable Aluminum Containers, Pans, and Trays from China

On May 16, 2024, U.S. producers filed antidumping (AD) and countervailing duty (CVD) petitions against imports of disposable aluminum containers, pans, and trays from China claimed to be (a) dumped – i.e., sold into the United States at less than fair/normal value prices and (b) government subsidized. The petition alleges dumping import duty margins of 104.5% to 287.8%, as a percent of import value. US AD import duties are requested for those amounts. No specific claimed subsidy CVD import duty margins.

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Upcoming/New CFIUS Filing: Premier American Uranium Inc. (Canada) and American Future Fuel Corporation (Canada)

Status: Upcoming/New Filing


Acquirer: Premier American Uranium Inc. (Canada)

Acquired: American Future Fuel Corporation (Canada)

Value: $95 million

Industry Tags: Mining & Extraction; Nuclear; Materials; Energy

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New CFIUS Rules to Enhance Enforcement and Investigation Activities

On April 11, 2024, the Committee on Foreign Investment in the United States (CFIUS), a multi-agency committee administered by the U.S. Treasury Department, released a proposed rule (“Proposed Rule”) to amend the CFIUS regulations.[1]  The Proposed Rule seeks “to enhance the Committee’s identification and resolution of national security risks” by expanding the scope of information that CFIUS can seek from parties and its ability to compel production of such information.  As summarized below, the proposed authorities will bolster CFIUS’s ability to monitor and investigate non-notified transactions as well as potential violations of mitigation obligations, including by increasing financial penalty exposure to parties and streamlining CFIUS’s ability to issue subpoenas.  Comments to the Proposed Rule will be due within 30 days of publication in the Federal Register, which is expected in the coming days. 

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In-Person Event: US Export Controls Workshops in the UK – July 16-18, 2024

From EAR to ITARnity: Ever-Challenging US Export Controls Compliance

When: July 16-18, 2024

Where: Stratford-upon-Avon, UK


This hugely successful and highly praised event on US export controls regulations, which is jointly organised by Export Group for Aerospace, Defence & Dual-Use (EGADD) and Squire Patton Boggs, will be celebrating its 17th Anniversary when it takes place in July 2024.

For this year, the event will, once again, also be organised in close partnership with BAE Systems. As a major, multinational company, BAE Systems has considerable practical experience in dealing with the challenges arising from International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR) compliance.

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White House Issues Executive Order to Strengthen Cybersecurity at US Ports

On February 21, 2024, the White House issued an executive order implementing various measures to bolster the security of US ports by expanding the US Coast Guard’s authority to regulate maritime cybersecurity, requiring the reporting of cyber incidents and investing in the US port critical infrastructure. With the increasing use of connected systems in the maritime industry, these recent measures continue to demonstrate the administration’s focus on improving the cybersecurity of the nation’s critical infrastructure, including vessels and port facility operations, and reflects the increasing merger of economic and national security concerns in the Marine Transportation System (MTS). This particular executive order is not a one-off initiative.  Rather, it is part of a broader administration strategy targeting perceived national security threats and potential threats to supply chains, including those supporting critical infrastructure.[1]

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