The U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) issued Russia-related General License 134 (“GL 134”) yesterday, which temporarily authorizes the delivery and sale of Russian-origin crude oil and petroleum products that are already on the water as of March 12, 2026. It is understood the policy intent
RePowerEU Update: Six Countries Cleared for Simplified Gas Imports
The European Commission has granted six countries – Algeria, Nigeria, Norway, Qatar, the United Kingdom and the United States – an exemption from prior authorisation requirements for natural gas imports under the RePowerEU Regulation.
What does this mean?
Gas sourced from these six countries will no longer require prior authorisation under Article 5(3) or evidence
EU-Mercosur: Key developments shaping the trade agreement
In a rapidly evolving geopolitical landscape marked by rising tensions and global economic challenges, the European Union is accelerating efforts to diversify its trade partnerships. One of the most significant recent developments is the signing of the EU-Mercosur Partnership Agreement (EMPA, or the Agreement) and the Interim Trade Agreement (iTA) on 17 January 2026
EU LNG and Pipeline Gas Import Ban – Timing under EU Sanctions (Article 3ra) vs RePowerEU
As a follow-up to our previous client alerts on the EU’s Russian gas phase-out (available here), we have prepared an infographic summarising how the EU sanctions framework (Regulation 833/2014) interacts with the RePowerEU phase-out Regulation (Regulation 2026/261), including the key contract cut-off and phase-out dates for both LNG and pipeline
New EU deal fast-tracks the permanent phase-out of Russian gas
The European Parliament and Council have reached a provisional political agreement to permanently end all imports of Russian natural gas into the EU on an accelerated timetable. The deal brings forward key deadlines for LNG and pipeline gas, tightens limits on contract amendments, enhances anti-circumvention and origin-tracking rules, and strengthens enforcement with significant penalties. Member
Regulation to phase out Russian gas imports backed by EU Council
Following the EU’s existing embargo on Russian crude oil and petroleum products, the European Commission has proposed, and the Council has now agreed in principle, a complementary Regulation designed to end the remaining inflows of Russian natural gas into the Union. The measure gives legal effect to the Commission’s May 2025 Roadmap towards ending Russian
What are the three key points you need to know about the European Commission’s proposal on steel?
On 7 October 2025, the European Commission presented a proposal for a new regulation to introduce rigorous trade measures on steel entering the EU market. The proposal is subject to the ordinary legislative procedure, under which the European Parliament and the Council act as co‑legislators to amend and ultimately adopt the text. We therefore expect
Potential U.S. tariffs on copper imports and the ‘short squeeze’: Legal considerations for physical sale and purchase contracts
- On July 8, 2025, President Trump indicated that the United States would impose 50% tariffs on copper imports. The tariffs are expected to be imposed by end of July or start of August.
- In response to the threat of tariffs, the global copper market has experienced significant change, as traders and end users
U.S. and China in tariff tit for tat; Canadian and Mexican tariffs delayed
Update: On February 1, 2025, President Trump signed three executive orders imposing U.S. tariffs on imports from Canada, China, and Mexico. These new tariffs are in addition to any already-existing duties and tariffs, including antidumping and countervailing duties, Section 232 tariffs on steel and aluminum imports, and Section 301 tariffs on Chinese-origin