In October, the US Trade Representative (USTR) announced that the US had won the largest arbitration award in the World Trade Organization’s (WTO) history, in its dispute with the EU over illegal subsidies to Airbus. The decision awarded US$7.5 billion, which is nearly twice the next largest award. The arbitrator calculated the amount of the award based on WTO findings … Continue Reading
On 29 July 2016, the Treasury Department’s Office of Foreign Assets Control (OFAC) issued a new general license authorising temporary sojourn of certain non-US registered aircraft in Iran. The general license, General License J, applies only to re-exports by non-US persons of fixed-wing civil aircraft that are registered in a country other than the US, Iran or another E:1 country, … Continue Reading
