The U.S. and EU this week condemned Russia's decision to terminate the Black Sea Grain Initiative, which had allowed grain to be exported from Ukraine to countries in Africa, the Middle East and Asia amid fighting between Russia and Ukraine (see 2305030024). "We urge the Government of Russia to reverse its decision, to resume negotiations, and to extend, expand, and fully implement the Initiative immediately for the benefit of the millions of people who depend on Ukrainian grain," the State Department said. The European Council also called on Russia to "cease illegally blocking Ukrainian seaports and allow freedom of navigation on the Black Sea," adding that it will "spare no efforts" in supporting the delivery of all goods, "especially agricultural products to global markets through EU-Ukraine 'Solidarity Lanes.'"
The EU General Court last week affirmed a European Commission decision that allowed German securities depository bank Clearstream Banking to comply with U.S. sanctions on Iran. The case stemmed from a commission decision in 2020 that authorized Clearstream to withhold payment of dividends to German firm IFIC Holding, whose shares are indirectly held by the Iranian government. IFIC had asked the General Court to annul the decision.
The EU on July 13 removed import restrictions on certain food from Japan that had been in place since the 2011 Fukushima nuclear incident. The European Council said the move follows "positive results from controls done on the products" by the Japanese government and EU member states. Following 2011, the bloc tested food products for radioactivity pre-export. By 2021, the restrictions were limited to "wild mushrooms, some fish species and wild edible plants." The U.K. lifted similar restrictions last year (see 2206290022).
The fourth "Fish Week" negotiations on fisheries subsidies opened at the World Trade Organization July 10 with the chair, Iceland's Einar Gunnarsson, fielding members' views on what parts from various proposals submitted by different countries would form the basis of the text-based talks in the fall, according to the WTO. Members are aiming to reach an agreement at the 13th Ministerial Conference set for February. The WTO will hold a July 19 meeting to discuss the "technical work related to the operation of the future Committee on Fisheries Subsidies," which will be established when the original fisheries deal, struck at MC12, comes into force. WTO Deputy Director-General Angela Ellard said "now is the right time to deepen the discussions and identify elements and approaches for the starting point of text-based negotiations in the fall."
The European Commission on July 7 opened a consultation on the use of its enforcement regulation in a World Trade Organization dispute on Indonesia's export restrictions on nickel. The move follows Indonesia's appeal of a WTO dispute panel ruling favorable to the EU. Due to the lack of a functioning Appellate Body, all appeals at the WTO are in limbo.
The U.S. District Court for the Southern District of New York rejected FTX founder Sam Bankman-Fried's bid to dismiss the government's claim that the infamous crypto-exchange executive violated the Foreign Corrupt Practices Act's anti-bribery provision (U.S. v. Samuel Bankman-Fried, S.D.N.Y. # 22-00673).
A World Trade Organization dispute panel suspended its consideration of Russia's complaint against U.S. antidumping duties on steel and aluminum products at Russia's request, the WTO announced. The panel said that after reviewing Russia's comments and U.S. opposition, it decided to temporarily stop its work on the dispute. Per WTO rules, the panel cannot halt the work for more than 12 months.
Japan, Australia and Singapore, co-conveners of the e-commerce talks at the World Trade Organization, recently urged delegates to consider how the initiative can achieve results by the end of the year, the WTO said June 22. Facilitators of small group discussions noted progress on finding "landing zones on text proposals in areas such as cryptography, source code, privacy, 'single windows,' telecommunications, and data flows and data localisation," the WTO said. Other sessions held at the meeting included talks on general and security exceptions, digital inclusion and development and implementation.
DOJ rolled out indictments on June 23 against four China-based chemical manufacturing companies and eight employees and executives at these companies for knowingly making, selling and distributing precursor chemicals for fentanyl proliferation in the U.S. Filing three cases at two New York district courts, Attorney General Merrick Garland said the suits stand as an effort to target "every step of the movement, manufacturing, and sale of fentanyl -- from start to finish." The cases mark the first time a Chinese company or individual has been charged for trafficking fentanyl precursor chemicals.
The EU levied its 11th sanctions package against Russia June 23, imposing a host of new export restrictions, individual designations and "new tools to counter circumvention and information warfare," the European Council announced. The new designations target 71 people and 33 entities involved in military activities, political decision-making, the spread of disinformation, the forced adoption of Ukrainian children to Russia and Russian information technology companies offering technology to Russian intelligence agencies.