On 14 September 2022, as part of a suite of regulatory changes targeting cross-border supply chains, the European Commission presented its proposal for a Forced Labour Regulation.
In November 2023, the European Parliament adopted its position on the Commission’s proposal, followed by the Council of the EU adopting its General Approach in January 2024. After
On 14 December 2023, the two EU co-legislators, the Council of the EU and the European Parliament, provisionally reached an agreement on the Corporate Sustainability Due Diligence Directive (CS3D). In essence, the Directive sets out an obligation for companies to comply with human rights and environmental due diligence and provides for an enforcement mechanism with
With less than two weeks until the start of the Carbon Border Adjustment Mechanism (CBAM) transitional period (1 October 2023 – 31 December 2025), the European Commission published the CBAM Implementing Regulation on the reporting obligations in the Official Journal of the European Union on 15 September 2023. During the transitional period, declarants are required
On 13 September 2023, European Commission President Ursula von der Leyen announced in her annual State of the Union Address that the European Commission (Commission) will launch an anti-subsidy investigation into Chinese subsidies to electric vehicle (EV) makers in China under EU trade rules. The Commission’s concern is that “global markets are now flooded with
During her annual State of the European Union speech on 13 September 2023, the President of the European Commission, Ursula von der Leyen, announced that “the Commission is launching an anti-subsidy investigation into electric vehicles coming from China.” An anti-subsidy measure (i.e., countervailing duties) is one of the trade defence instruments that a World Trade
The text of the new European Battery Regulation (referred to as the Regulation) has now received formal approval from both the European Parliament (14 June) and the Council of the EU (10 July). Aiming to ensure the safety, sustainability, and competitiveness of batteries, the Regulation will target the entire life cycle of batteries, from their
On 23 June 2023, the EU published its 11th sanctions package.
We set out below a summary of key highlights in this latest update. These are all subject to further interpretative guidance provided by the EU, where applicable.
The new round of sanctions extends the categories of persons that may be subject to an asset freeze, to include not only natural or legal persons, entities or bodies facilitating infringements of the prohibition against circumvention but also those that are significantly frustrating the provisions laid out by EU sanctions.
Over 100 additional individuals and entities have been added to the list of entities and individuals subject to asset freezing measures, including senior military officials, decision makers, Russian IT companies, banks, businesspersons, judges etc. In total 1572 entities and 244 individuals are currently listed as being subject to asset freezes.
Two new banks are designated, MRB Bank and CMRBank. An authorisation may be granted to release frozen funds or resources belonging to them if such funds or economic resources are necessary for the purchase, import or transport of agricultural and food products, including wheat and fertilizers.Continue Reading EU 11th Sanctions Package – Update
In May 2023, the European Union (EU) adopted Regulation (EU) 2023/1115 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation (the Regulation). The Regulation was officially published on 9 June 2023 and will enter into force on 29
On 17 May 2023, the European Commission published its proposals to reform and modernise the Union Customs Code. These proposals follow years of discussions and calls for a structural change to the Union Customs Code, which was no longer adequate to meet new challenges and contained weaknesses that led to the emergence of obstacles to
The Forced Labour Regulation in the EU prohibits products made with forced labour from being placed on the EU market and exported from the EU. Forced labour is defined as work or service that is exacted from any person under the threat of a penalty and for which the person has not offered himself or