In brief On 29 August 2020, the United Arab Emirates (“UAE”) Government’s Emirates New Agency (Wakalat Anba’a al Emarat, or ‘WAM’) publicly announced that H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, issued Federal Decree Law No. 4 of 2020, abolishing Federal Decree Law No. 15 of 1972 Concerning the Arab League Boycott of Israel (the “UAE Israeli Boycott Law”) (the “UAE Israeli Boycott Repeal Law”). The UAE Israeli Boycott Repeal Law…
On August 17, 2020, the US Commerce Department’s Bureau of Industry and Security (“BIS”) issued a final rule (“Final Rule”) (i) expanding the Export Administration Regulations (“EAR”) General Prohibition Three (the foreign-produced direct product rule, or the “FPDP Rule”) to further restrict Huawei Technologies Co. Ltd. and its affiliates designated on the BIS Entity List (collectively, “Huawei”) from acquiring foreign-produced semiconductors that are the direct product of certain US software and technology, (ii) removing the…
On July 31, 2020, the Department of Commerce Bureau of Industry and Security (“BIS”) amended the Export Administration Regulations (“EAR”) to suspend the availability of all License Exceptions for Hong Kong that provide differential treatment relative to mainland China. Our blog post on prior steps taken to revoke preferential treatment for Hong Kong, including the initial announcement of these suspensions, is available here. The following partial or full License Exceptions are no longer available for…
On July 28, 2020, the Department of the Treasury issued a final rule formally implementing filing fees for formal notices of transactions submitted to the Committee on Foreign Investment in the United States (“CFIUS”). CFIUS filing fees were previously established in an interim rule on April 29, 2020, and are assessed on a sliding scale between $0 and $300,000, depending on the value of the transaction. In addition, the final rule also narrows the definition…