After a reportedly heated debate among EU leaders, the EU has adopted its long announced tenth package of sanctions at the anniversary of Russia’s aggression against Ukraine. The latest package introduces yet another set of comprehensive sanctions, including additional financial sanctions on individuals, companies, and three additional Russian banks, the expansion of export and import bans, measure aimed at strengthening enforcement and preventing circumvention, as well as further measures. No additional measures were taken with respect to Belarus. Here are the details:
read moreAt the beginning of February, the European Commission (Commission) presented its Green Deal Industrial Plan, a package of measures designed to help the EU industry to make progress in the transition to climate neutrality and strengthen its position in global competition.
read moreThe 12th edition of Getting the Deal Through: Foreign Investment Review has just been published. Roland Stein and Leonard von Rummel once again contributed the chapter on the German foreign investment review regime, as in the previous years’ editions.
read moreAfter 6 years of a loud silence, Germany has re-established its relationship with Brazil. Chancellor Olaf Scholz paid an official visit to Brazil on 30 January 2023 with a bag of 200 million euros in investments on environmental / sustainability initiatives in Brazil, and a clear interest on fostering sustainable agriculture, the production of green hydrogen and to advance trade agreement between the Southern Common Market (Mercosur) and EU.
read moreGermany is moving forward with its tender structure for purchasing Green Hydrogen (GH2) subproducts, such as ammonia, methanol, and aviation fuel from countries outside the EU. It is the first time that this unique scheme is being implemented, aiming to foster the international market of GH2. Although the deadline is approaching, there is still time to take part of it. Nevertheless, these are the first tenders of a recurrent and regular purchase procedure, in order to bring the necessary security on the demand side, so that the new projects on the supplier side can be structured.
read moreThe latest sanctions package, adopted on 16 December 2022, constitutes the EU’s ninth round of sanctions since the beginning of Russia’s aggression against Ukraine. As in the case of previous packages, the EU has sanctioned further individuals and entities as well as introduced additional trade and sector-specific restrictions. These new measures are effective as of 17 December 2022. We highlight the most important aspects of these latest changes below.
read moreAs the Russian aggression against Ukraine continues, the EU has consistently expanded its sanctions against Russia. Whereas legal action by the EU has so far been limited to the extension of individual and sector-related sanctions, plans have ripened to increase the effective implementation of these sanctions. The EU Commission has now presented a draft Directive to harmonize the definition of criminal offences and penalties for violations of the restrictive measures within the EU. In addition, the EU member states, together with the other G7 states, have agreed on an oil price cap, which is meant to reduce Russian revenues. Finally, the imposition of further restrictions is currently under discussion. It would be the ninth package of sanctions against Russia since the beginning of the war in early 2022. We have summarized these three crucial developments in EU sanctions law below.
read moreIn its May 17, 2022 ruling, the German Federal Fiscal Court (Bundesfinanzhof, BFH) confirmed that it is irrelevant to determine the customs value for imported goods if the transaction value is adjusted subsequently (Case No. VII R 2/19). The ruling marks the end of the Hamamatsu case, in which the European Court of Justice (ECJ) already had taken a position (Judgment of 20 December 2017, C-529/16). The core of the proceedings hinges on whether transfer pricing adjustments in cross-border transactions between affiliated companies are to be taken into account retrospectively when determining the customs value.
read moreOn the 26th of October, the German Federal Government published the draft text of the Second Sanctions Enforcement Act (Sanktionsdurchsetzungsgesetz II – SDG II), which is set to pass by the end of this year. The proposal is the second part of the previously planned two-part legislative package and builds on the First Sanctions Enforcement Act (Sanktionsdurchsetzungsgesetz I – SanktDG I), which came into force in the end of May earlier this year.
read moreOn 1 January 2023, the “Act on Corporate Due Diligence Obligations in Supply Chains” (the “Act”) will enter into force for companies with more than 3000 employees in Germany. In order to specify the obligations under the Act, the Federal Office for Economic Affairs and Export Control (“BAFA”) published several guidance documents, most recently one on the complaints procedure (in German) under Sec. 8 and 9 of the Act. In this briefing, we summarize the main specifications and recommendations provided in the guidance document.
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