The European Commission on March 25 lowered the liberalization rate for its steel safeguard measure from 1% to 0.1%, reducing the amount of steel that can be imported into the EU without tariffs.
New guidance published this week by the European Commission covers how EU sanctions apply to certain shipments of Russian liquified natural gas. The FAQs offer insight into how EU companies can determine whether the LNG they’re transporting is of Russian origin, how they can request permission to transport those shipments, and more.
The EU this week launched a new online sanctions help desk, featuring information on new sanctions, country-specific guidance, events, tips, compliance lessons learned and more. The help desk is geared toward helping small and medium-size companies carry out due diligence, and it will provide guidance on both EU and U.N. sanctions.
The European Commission on March 24 began monitoring import volumes of ethylene and ammonia products, which are primarily used for fertilizer production and "industrial applications," in order to levy duties on the products should imports surge in the EU. The commission said it began the surveillance because of "evidence of a significant and potentially injurious increase in the EU market share of imports of the chemicals," which purportedly is the result of overcapacity in China and trade defense measures from a "growing number of countries." Specifically, the surveillance covers "imports of copolymers of ethylene and alpha olefin, urea containing more than 45% (by weight) of nitrogen and ammonium sulphate," and will be in place for three years.
The U.K., Switzerland and France last week launched a new task force that they said will “strengthen our collective effort” to tackle bribery- and corruption-related crimes. The three countries’ International Anti-Corruption Prosecutorial Taskforce will allow them to regularly share information on enforcement work and propose coordinating on cases, they said. The task force was announced more than a month after the Trump administration unveiled plans to roll back enforcement of the Foreign Corrupt Practices Act (see 2502100055 and 2502120051).
The European Commission will delay its first wave of retaliatory tariffs against the U.S. from April 1 until mid-April, commission spokesperson Olof Gill said in a statement March 20. Gill said the tariffs were delayed to "align the timing" of the EU's two sets of retaliatory actions announced last month (see 2503120042).
The U.K.'s Office of Financial Sanctions Implementation fined the Russian subsidiary of British law firm Herbert Smith Freehills about $600,000 for violating U.K. sanctions on Russia. The firm was penalized for six payments it made worth over $5 million to sanctioned Russian banks Alfa-Bank JSC, PJSC Sovcombank and PJSC Sberbank.
The European Commission on March 19 imposed definitive antidumping duties on glass fiber yarns from China after finding that "significant Chinese overcapacity" of the yarn injured the EU industry. The duties range from 26.3% to 56.1%.
The EU plans to update its export controls to make them more effective amid rapid geopolitical and technological change, a government official said March 19.
Imports into the EU of birch and other types of plywood have proven to be a “major source of revenue” for Russia and Belarus and are frequently being used to evade EU sanctions, the European Commission said in a sanctions alert last week.