Having focused on the enforcement of sanctions by the United States, United Kingdom, the European Union, Germany, and France in the past weeks, we continue our overview with the current enforcement practice of the Italian authorities and the changes to be expected following the newly announced G7 Enforcement Coordination Mechanism. What are the recent sanctions enforcement trends in Italy? While there is minimal public information available on Italian enforcement activity, it is clear to us…
On 15 March, the EU introduced further sectoral measures targeting the Russian economy. The new measures were announced after informal meetings took place between the EU heads of state and the G7 countries’ leaders. The new sectoral restrictions pertain, inter alia, to the following: transactions with certain state-owned enterprises;provision of credit rating services;new investment in the Russian energy sector;export of equipment, technology and services for the energy industry;import of iron and steel; andexport of luxury…
The Italian Government has blocked the export of 250,700 doses of COVID-19 vaccine to Australia. This decision represents the first application of the newly enacted EU transparency and authorization mechanism for exports of COVID-19 vaccines provided for by Implementing Regulation (EU) 2021/111 of January 29, 2021. This mechanism establishes that, until March 31, 2021, exports of COVID-19 vaccines are subject to the prior authorization by the Member State where products are manufactured with the purpose…