The U.K. on Aug. 5 amended a Russia sanctions license allowing designated parties to make certain payments to British billing authorities. The update added a permission to the list of permitted payments, allowing for the payment of fees "owed by or due from UK" sanctioned parties to the billing authorities for "Business Improvement District levies."

The U.K. on Aug. 2 renewed a sanctions license allowing for certain sales, divestments or transfers of "financial instruments" held by the Russian Central Securities Depository. The license now runs through Oct. 12.

The European Commission last week released a set of updated frequently asked questions on its Russia-related sanctions, offering guidance on how it treats "partner countries" in the context of its iron and steel restrictions and export controls.

The U.K. this week updated its antidumping duties on high fatigue performance steel concrete rebar from China to "reflect updated commodity codes." The duties range from 18.4% to 22.5%, with all non-individually examined exporters receiving the 22.5% rate. The U.K. Global Tariff commodity codes applicable are as follows:

The EU made its first transfer of seized Russian assets to Ukraine, making available over $1.6 billion, the European Commission announced. The funds are made up of sanctioned Russian Central Bank assets, 90% of which will head to the European Peace Facility and 10% to the Ukraine Facility, which will support Ukrainian defense and reconstruction efforts. The next wave of assets to be sent to Ukraine will take place in March, the commission said.

The U.K. Solicitors Regulation Authority reported two "suspicions of breaches of the Russia Sanctions regime" to the U.K.'s Office of Financial Sanctions Implementation in the past year, the body said in its annual report for the year that ended April 5. The authority said the breaches involved "firms facilitating transactions" of more than $386,000. The report didn't provide more details.

The European Commission on July 24 updated its consolidated list of frequently asked questions on its sanctions regimes for Russia and Belarus. The new FAQs update guidance on how sanctions impact depositary receipts, asset swaps, data sharing, advisory services, and more.

The U.K. on July 24 renewed a general license authorizing certain transactions with North American subsidiaries of Russian steel company Evraz (see 2205090013). The license was scheduled to expire Sept. 30 but now is extended six month beyond that and expires March 31.

The EU and Serbia signed a memorandum of understanding establishing a "Strategic Partnership" on sustainable raw materials, battery value chains and electric vehicles, the European Commission announced July 19. EU and Serbia will develop a road map to implement the strategic partnership within six months, according to the MOU.

The EU and Japan, meeting July 16, acknowledged the entry into force of new provisions on the "free flow of data" and 48 new "Geographical Indications" under the EU-Japan Economic Partnership Agreement, the EU's Directorate-General for Trade announced. The two parties discussed "further market access improvement" and swapped views on "economic security issues." They came together for the fifth meeting of the Joint Committee established under the agreement.