On 24 January 2022 the European Council approved certain conclusions asserting that European security is indivisible, that challenges to the European security order affects the security of the EU and its member states, and that the EU will provide unwavering support for the independence, sovereignty and territorial integrity of Ukraine and other neighbouring states. The European Council has condemned Russia’s actions with respect to Ukraine and has stated that further military action by Russia against…
The Department for International Trade and the Export Control Joint Unit published a notice to exporters on 10 January 2022 regarding compound penalties imposed on ten UK exporters for unlicensed exports of dual use and military items and breaches of export licence conditions between March and November 2021. The compound penalties imposed by HM Revenue & Customs (“HMRC”) ranged between £1,000 and £54,000 and related to unlicensed exports of dual use goods, military goods and…
On Thursday 6 January 2022, the European Commission published Delegated Regulation (EU) 2022/1, updating the list of dual-use items contained in Annex I to Regulation (EU) 2021/821 (the “EU Dual Use List”). Regulation (EU) 2021/821, which was published in June last year and came into effect on 9 September last year, introduced key changes to modernise the EU export controls regime for dual use items. Please see our previous post for an overview of changes,…
The National Security and Investment Act (“NSI Act”) came into force this week, completing the overhaul of the UK’s foreign investment rules and creating a standalone foreign investment screening regime. The new rules require businesses and investors to submit mandatory notifications for certain acquisitions of and investments in companies operating in 17 key sectors. The rules also grant the UK Government extensive powers to investigate and impose conditions on a wide range of transactions, including…