The EU is launching an investigation on Chinese government subsidies awarded to suppliers of wind turbines destined for Europe, European Commission Executive Vice President Margrethe Vestager said April 9. She said the probe will focus on the “conditions for the development of wind parks in Spain, Greece, France, Romania and Bulgaria.
The U.K. Office of Financial Sanctions Implementation on April 2 released a blog post covering compliance with financial sanctions in the maritime sector. The agency listed six tips to stay compliant with the sanctions, including understanding your "counterparties" and conducting "thorough due diligence." OFSI also called for "robust compliance policies and procedures" and to invest in "technology and screening tools." Companies should also conduct "ongoing training and awareness programs," stay informed about new sanctions and create environments for "collaboration and information sharing."
The U.K. High Court of Justice last week said it has jurisdiction to hear a nearly $10 billion dispute between Russian aircraft companies and the owners, lessors and financing banks of those aircraft leased to Russia.
The European Commission on April 2 updated 19 of its Russia sanctions FAQs related to services for the Russian government and entities.
The U.K. on April 4 extended for five years, until Jan. 31, 2028, its antidumping duties on cast iron articles from China, the U.K. Department for International Trade announced. The duties range from 15.5% to 38.1%, with the latter rate applicable to the non-individually examined exporters. The duties cover articles "of lamellar graphite cast iron (grey iron) or spheroidal graphite cast iron (also known as ductile cast iron) and parts thereof."
The U.K.’s Office of Financial Sanctions Implementation on April 2 updated its general license authorizing certain transactions involving the U.K. Companies House, the government agency that maintains a register of companies incorporated in the U.K. The license authorizes certain payments between sanctioned parties and the agency.
The European Commission on April 3 imposed antidumping duties on certain polyethylene terephthalate from China, ranging from 6.6% to 24.2%, for the next five years, the Directorate-General for Trade announced. The duties stem from an EU investigation finding that Chinese PET imports sold at "artificially low prices" were "undercutting EU industry's prices." The move finalizes and continues the provisional duties, set Nov. 27.
As of April 1, U.K. exporters can no longer consider EU inputs as originating in the U.K. when exporting those goods to Canada, the U.K.’s Department for Business & Trade said this week. That “time-limited” EU cumulation provision was included in the U.K.-Canada Trade Continuity Agreement (TCA), but now that it has expired, U.K. exporters must make sure their products “meet the Rules of Origin” requirements outlined in the TCA “after this change if you want to benefit from preferential access,” the department said. Industry questions should be directed to helen.stephen@businessandtrade.gov.uk.
The Czech Republic added one entity and two people to its Russia sanctions regime March 28, the Ministry of Foreign Affairs announced. The entity is Voice of Europe, an allegedly pro-Russian media operation in Europe operated from the Czech Republic. The people are Viktor Medvedchuk, a former pro-Russian Ukrainian politician who allegedly bankrolls Voice of Europe, according to Reuters, and Artem Marchevskyi, the leader of Voice of Europe.
The European Commission last month updated two Russian sanctions FAQs reon the subject of state-owned enterprises, both related to insurance coverage for certain vessels and ports. The FAQs, updated March 25, explain under what scenarios EU insurers can make payments involving Russian state-owned companies, including payments directly to a port owned by one of those companies, and more.