Dispute settlement understanding talks among World Trade Organization members has been very "intense," though the large issues remain unresolved, Maria Pagan, deputy U.S. trade representative and chief of mission in the Geneva office, said Nov. 20. Speaking at an event hosted by the Center for Strategic and International Studies on the upcoming 13th Ministerial Conference, Pagan said discussions started by acknowledging the different parties' interests as opposed to putting text on the table and hashing out the deal.
Jacob Kopnick
Jacob Kopnick, Associate Editor, is a reporter for Trade Law Daily and its sister publications Export Compliance Daily and International Trade Today. He joined the Warren Communications News team in early 2021 covering a wide range of topics including trade-related court cases and export issues in Europe and Asia. Jacob's background is in trade policy, having spent time with both CSIS and USTR researching international trade and its complexities. Jacob is a graduate of the University of Michigan with a B.A. in Public Policy.
Two British reinsurance brokers, Tysers Insurance Brokers Limited and H.W. Wood Limited, settled DOJ investigations on the companies' violations of the Foreign Corrupt Practices Act, DOJ announced. The charges arose out of the parts played by Tysers and H.W. Wood in a scheme to bribe Ecuadorian government officials "to obtain and retain reinsurance business with" Ecuadorian state-owned firms.
Gary Locke, former U.S. commerce secretary and ambassador to China, has joined Dorsey & Whitney as a senior advisor in the Seattle office, the firm announced. Locke currently chairs Committee of 100, a "leading organization for Chinese Ameircans," and will help guide Dorsey's international practice, the firm said. Locke has a background in foreign direct investment, export controls, government relations and "cross-cultural diplomacy," the firm said.
The U.K. High Court in a decision released Nov. 15 said Senegalese oil trading company Der Mond Oil and Gas couldn't rely on sanctions as a reason for not paying Russian company Litasco SA for money due under an oil sale contract.
Zhenyu Wang and Daniel Lane, both Texas residents, were convicted on Nov. 15 of attempting to skirt U.S. sanctions on Iran in violation of the International Emergency Economic Powers Act, DOJ announced. DOJ said they both tried to "transact in sanctioned Iranian petroleum and launder the proceeds" and were convicted of attempting to violate IEEPA, conspiracy to violate IEEPA, and conspiracy to commit money laundering.
The U.S. interpretation of the General Agreement on Tariffs and Trade's Article XXI(b) -- which governs trade moves made for national security -- as being wholly self-judging "is unsupported by the text, context, object and purpose, and negotiating history" of the article, four Akin Gump lawyers said in a working paper under the auspices of the Geneva Graduate Institute Centre for Trade and Economic Integration.
World Trade Organization committees could offer a path beyond the Dispute Settlement Body to settle trade-related issues, Baker McKenzie lawyers said in a Nov. 13 blog post. For instance, the Anti-Dumping Practices and Subsidies and Countervailing Measures committees offer a forum to settle "practical and strategic issues" faced by companies engaged in international trade, the post said.
The EU's Directorate-General for Trade launched a new tool, dubbed the "Access2Conformity," which will let EU exporters take better advantage of Mutual Recognition Agreements with third countries. The tool will let EU exporters "identify where in the EU they can perform product testing and certification when exporting to certain third countries," the bloc said Nov. 13. The trade directorate highlighted the fact that MRAs can allow an exporting member state to designate their own conformity assessment body as "capable of testing and certifying exported products to make sure that they comply with the rules and regulations of the importing trade partner."
The European Council on Nov. 13 renewed its sanctions on Venezuela for another six months, setting them up to now expire on May 14, 2024. The sanctions include an embargo on arms and equipment for internal repression along with an asset freeze on 54 people.
The EU General Court on Nov. 8 rejected a Russian CEO's application to annul his sanctions designation. The court said the European Council properly laid out a statement of reasons for the sanctions decision, adding that the council "adduced a set of sufficiently specific, precise and consistent indicia capable of demonstrating" that Dmitry Mazepin "is a leading businessperson involved in a sector providing a substantial source of revenue to the Russian Government."