On October 16, 2023, the Committee on International Trade (INTA) and the Committee on Internal Market and Consumer Protection (IMCO) of the European Parliament adopted their position (the Committee Position; see here and...more
The EU’s Foreign Subsidies Regulation (FSR) was adopted in late 2022. Its stated aim is to combat the effects of competitive distortions caused by foreign subsidies in the EU internal market and thereby level the playing...more
8/9/2023
/ Competition ,
EU ,
European Commission ,
European Merger Control Regulation ,
Foreign Subsidies ,
Member State ,
Merger Controls ,
Mergers ,
New Regulations ,
Public Procurement Policies ,
State Aid ,
State-Owned Enterprises ,
Threshold Requirements
On May 16, the Regulation establishing an EU Carbon Adjustment Mechanism (CBAM) was published in the Official Journal of the EU and entered into force the following day. Under the CBAM, importers into the EU of...more
On May 19, in response to Russia’s ongoing invasion of Ukraine, the United States, in coordination with allies and partners, announced new sanctions restrictions and export controls targeting Russia’s evasion networks,...more
6/5/2023
/ Asset Freeze ,
Avoidance ,
Banking Sector ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Energy Sector ,
EU ,
Executive Orders ,
Export Controls ,
General Licenses ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
The year since Russia’s invasion of Ukraine has been marked by the development of a multi-jurisdictional, multi-agency sanctions regime in the United States, the United Kingdom and the European Union. Although coordination...more
4/28/2023
/ Asset Freeze ,
Asset Recovery ,
Compliance ,
Economic Sanctions ,
Enforcement ,
Enforcement Authority ,
EU ,
G7 ,
Member State ,
Military Conflict ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Oversight ,
Russia ,
UK ,
Ukraine
On February 6, 2023, the European Commission (EC) published a draft Implementing Regulation (the Implementing Regulation) setting out rules and procedures for the application of the Foreign Subsidies Regulation (FSR)....more
Effective February 5, 2023, the Price Cap Coalition (the Coalition), consisting of the G7 nations, the European Union (EU) and Australia, set a price cap of $45 per barrel for “Discount to Crude” petroleum products of Russian...more
2/10/2023
/ Australia ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
General Licenses ,
New Guidance ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
On November 28, 2022, the Council of the European Union (Council) gave its final approval to the proposed Regulation on Foreign Subsidies (Regulation), concluding seven months of negotiations with the EU Parliament. Under...more
A ban on services related to the maritime transport of Russian-origin crude oil sold above a pre-determined price cap of $60 per barrel began on December 5, 2022, with a similar price cap ban related to other Russian-origin...more
12/7/2022
/ Australia ,
Commodities ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
Global Market ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
On May 10, 2022, the European Commission adopted the final text of the new Vertical Block Exemption Regulation (VBER) accompanied by the new Guidelines on Vertical Restraints (the VGL), which provide detail on interpretation...more
We wanted to share an update on Russia sanctions developments in the United States, United Kingdom, and European Union that occurred between March 24 and April 8, 2022. Following new reports of atrocities committed by the...more
On 23 February 2022, the European Commission (“Commission”) adopted a proposal for a Corporate Sustainability Due Diligence Directive (“Proposed Directive”) laying down new obligations for large companies to ensure that their...more
On March 26, 2021, the European Commission (EC) published the findings of its recent evaluation of procedural and jurisdictional aspects of European Union (EU) merger control. The key result is a change in the EC’s policy...more
On 17 June 2020, the European Commission (‘EC’) issued a White Paper proposing three new regulatory tools to tackle distortive effects that may be caused by foreign subsidies in the EU Single Market (the ‘White...more
On April 8, 2020 the European Commission (the ‘EC’) published a temporary antitrust framework for assessing business cooperation to ensure the supply of “essential scarce products and services” during the COVID-19 outbreak...more
On March 25, the European Commission (Commission) issued new Guidelines for screening foreign direct investment (FDI) in companies and critical assets located in the European Union (EU), including those operating in the...more
In the week following the adoption of the Temporary Framework for EU State aid measures to counter the economic impact of the COVID-19 pandemic on March 19, 2020,1 the European Commission (the ‘EC’) has approved twenty-one...more
The European Competition Network of the 27 EU Member State Antitrust Authorities (the ‘ECN’), several individual EU Member State antitrust authorities, the UK’s antitrust authority and Norway’s government have issued...more
The COVID-19 crisis is first and foremost a health issue, as governments around the world seek to limit and treat its effects and save lives. However, it is also an immediate economic and social issue, as companies and...more
The past two weeks have seen two major developments in relation to the screening of foreign direct investment in the European Union (“EU”) for national security or public order reasons. First, on December 10, 2018, the EU...more
12/21/2018
/ Acquisitions ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
EU ,
European Commission ,
Export Controls ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Germany ,
INTA ,
Italy ,
Member State ,
Mergers ,
National Security ,
Proposed Regulation ,
Screening Procedures ,
Trade Relations ,
Treaty of Lisbon
On October 24, 2018, the European Commission (“EC”) opened a Public Consultation on a Recommendation that will identify the main challenges linked to the deployment of connected and automated vehicles. Stakeholders, including...more
This is the seventh issue of WilmerHale's 8-in-8 Recent Trends in European Law and Policy Alert Series. Our attorneys will share insights on current and emerging issues affecting companies doing business in Europe and across...more
This is the sixth issue of WilmerHale’s 8-in-8 Recent Trends in European Law and Policy Alert Series. Our attorneys will share insights on current and emerging issues affecting companies doing business in Europe and across...more
Obtaining the European Commission’s (EC’s) approval for a merger or acquisition sometimes can be a time-consuming and costly procedure. This latest issue of WilmerHale’s 8-in-8 alert series on European Law and Policy examines...more
This is the second issue of WilmerHale’s 8-in-8 Recent Trends in European Law and Policy Alert Series. Our attorneys will share insights on current and emerging issues affecting companies doing business in Europe and across...more
6/1/2018
/ EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Foreign Relations ,
Free Trade Agreements ,
Member State ,
Passporting ,
Trade Relations ,
UK ,
UK Brexit ,
Withdrawal