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Decarbonizing the Global Shipping Industry: Is Hydrogen Fuel the Answer?

Decarbonization is coming to the global shipping industry. Accounting for nearly one- quarter of all carbon emissions from the world’s transportation sector and one billion tons of carbon dioxide annually, shipping stands at a critical juncture in its efforts to reduce carbon emissions and mitigate its environmental impact. Among the emerging alternatives to traditional fossil … Continue Reading

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. … Continue Reading

European Commission Investigates Chinese State-backed Company’s Participation in a European Tender Using New Powers Under the Foreign Subsidies Regulation

The European Commission has launched its first ever formal investigation into a potentially market-distorting foreign subsidy, exercising its powers under the 2023 Foreign Subsidies Regulation (FSR). The investigation concerns the participation of a Chinese state-owned train manufacturer in a public tender organized by the Bulgarian Ministry of Transport and Communications. The outcome of this case … Continue Reading

Unveiling the New EU Foreign Investment Regime

To address growing geopolitical tensions and technological shifts, the European Commission presented, on 24 January 2024, five new initiatives for strengthening the EU’s economic security. Part of the package is a proposal for a new regulation on the screening of foreign investments, whose aim is to update Regulation 2019/452 (FDI Regulation), which is currently in … Continue Reading

Another Domino Falls: UK to Follow the EU in Ending the Antitrust Exemption for Liner Shipping

In our blog back in October, we noted the European Commission’s decision to let the Consortia Block Exemption Regulation (CBER) as to liner shipping expire on 25 April 2024. In a subsequent client alert, we noted that we were also waiting to see what the US Congress and the Federal Maritime Commission (FMC) would do … Continue Reading

Interpretation of “Control” in UK-Russia Sanctions: Mints v PJSC National Bank Trust

Summary and Comment The Court of Appeal’s judgment in the Mints v PJSC National Bank Trust case clarifies some key aspects of the legal interpretation of the sanctions the UK has applied to Russia – the Russia (Sanctions) (EU Exit) Regulations 2019 (Regulations). In essence, the Court of Appeal has done three things:… Continue Reading

No More ‘Safe Harbor’ – European Commission to End the Antitrust Exemption for Liner Shipping

The European Commission has decided to end a rule exempting liner shipping services from certain EU antitrust rules, by letting the Consortia Block Exemption Regulation (CBER) expire on April 25, 2024. The decision came after the European Commission concluded that the CBER “is no longer fit for purpose.”… Continue Reading

Italian Government Updates Golden Powers Rules on National Security and Investment Controls

The Italian Golden Powers Rules have intricate and unique features and broad-reaching effects, which set them apart from other foreign investment control regimes in the EU. For example, a notification requirement may apply to EU as well as national buyers in certain instances and may apply to Italian companies operating in sectors deemed of strategic … Continue Reading

UK, German and Australian Antitrust Agencies Issue Joint Statement for More Rigorous Merger Control Enforcement

On 20 April 2021, the UK’s Competition and Markets Authority (CMA), the German Bundeskartellamt (BKartA) and the Australian Competition and Consumer Commission (ACCC) issued a joint statement¹ and held a joint online event pushing for more rigorous merger control enforcement. Our global competition team in these jurisdictions unpacks the joint statement and provides the following … Continue Reading

EU Seeks Public Comments on Policies for Anti-money Laundering and Counter Financing Terrorism

On May 5, 2020, the European Commission published (i) the Communication of the Action Plan (AP) for a comprehensive EU policy on the prevention of money laundering and financing terrorism (AML/CFT); (ii) the Delegated Regulation updating the countries identified as high risk countries for AML/CFT; and (iii) the methodology for the identification of high risk … Continue Reading

Webinar: International Sanctions and Impact on Exports, Investments and Projects – April 6, 2020

In recent years, we have witnessed the rise of international sanctions and the increase of export and import controls. This, together with the blocking regulation (with which third countries try to mitigate the extraterritorial effects of US sanctions) has added uncertainty to international trade.… Continue Reading

EU Commission Updates Guidance on FDI Screening in the EU; Citing COVID-19 Concerns

On March 25, 2020, the European Commission published a Guidance addressed to Member States on the application of foreign direct investment (FDI) Screening Regulation 2019/452 in the EU and restrictions on free movement of capital from third countries.  The Guidance relates to the Coronavirus Disease 2019 (COVID-19) pandemic. … Continue Reading

EU Decides to Suspend Issuance of License for Arms Export to Turkey

In response to the most recent developments in the Syrian conflict, the Council of the EU decided to halt arms exports licensing to Turkey on October 2019. This decision is based on the criterion that such exports could endanger regional stability. This decision is not a formal sanction, but it is a political declaration to which EU member states will … Continue Reading

EU Publishes Regulation Concerning Restrictive Measures in Nicaragua

On October 14, 2019, the EU published a regulation concerning restrictive measures in view of the situation in Nicaragua. The EU sanctions target persons and entities responsible for human rights violations or abuses, the repression of civil society and democratic opposition in Nicaragua, as well as persons and entities whose actions, policies or activities otherwise undermine democracy and the rule of … Continue Reading

EU Adopts CFIUS-like Framework for Sake of National Security – Regulation Approved by the Council of EU

UPDATE: On March 5, 2019, the Council of the EU approved the Regulation establishing a framework for screening of foreign direct investments into the EU. As further explained below, the Regulation facilitates enhanced cooperation and exchange of information between EU member states and the European Commission. The Regulation could affect businesses and investors, as well as their interactions with government entities at … Continue Reading

EU Amends the Blocking Regulations to Counter US Sanctions Against Iran

The amended EU Blocking Regulation entered into force on August 8. The amendment extended the scope of US sanctions against Iran with which EU citizens or entities must not comply. In addition to the updated EU Blocking Regulation, the European Commission issued: Guidance Note — Questions and Answers: adoption of update of the Blocking Statute Commission Implementing Regulation (EU) … Continue Reading

European Commission Published a Draft Guidance on the Internal Compliance Program

The European Commission published its draft guidance on the internal effective export control compliance programs. The guidance is subject to public consultation with all interested  stakeholders. In order to take part in the consultation, it is necessary to submit a contribution via the on-line survey.… Continue Reading

EU Extends Its Sanctions to New Persons and Entities in Certain Third Countries

In July, following decisions of the Sanctions Committee of the United Nations Security Council, the European Commission lifted the freeze of funds and economic resources sanctions imposed on certain Iraqi entities, including some state owned enterprises (Commission Implementing Regulation (EU) 2018/979, Commission Implementing Regulation (EU) 2018/1025 and Commission Implementing Regulation (EU) 2018/1066).… Continue Reading

UK Implements EU’s Venezuela Sanctions Regime

On 6 December 2017, the Venezuela (European Union Financial Sanctions) Regulations 2017 entered into force in the UK. This regulation implements Council Regulation (EU) 2017/2063 of 13 November 2017 and provides for the imposition of restrictive measures on persons or entities considered to be involved in undermining democratic principles and the rule of law, as … Continue Reading

Four Non-EU Countries Align With EU Sanctions Against Russia

On 31 January 2018, the High Representative of the Union for Foreign Affairs and Security Policy announced that Montenegro, Albania, Norway and Ukraine had aligned themselves with EU Council Decision (CFSP) 2017/2426. They have, therefore, extended a part of the sanctions imposed on Russia in relation to its violation of Ukrainian sovereignty and territorial integrity … Continue Reading
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