On April 6, 2022, the European Commission (“EC”) issued a communication calling for greater vigilance towards foreign direct investment (“FDI”) from Russia and Belarus, and guiding Member States on how best to screen and examine these investments going forward.[1] The EU FDI alert follows the recently adopted EU sanctions package against both countries.[2]
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François-Charles Laprévote
The European Commission Proposes a Far-Reaching Regulation to Tackle Foreign Subsidies
On May 5, 2021, the European Commission proposed a new draft regulation that, if adopted, would introduce sweeping measures aimed at controlling the impact of foreign subsidies on the EU single market. The Proposed Regulation reflects the EU’s policy priority to pursue an “open strategic autonomy” and fits into the EU Industrial Strategy,…
EU Foreign Direct Investment Regulation Comes Into Force
The EU Foreign Direct Investment Regulation came into force this week. It establishes a European framework for the screening of foreign investments into the European Union. In this memorandum we provide an overview of the legislation, and its expected practical impact on foreign investment review in the EU.
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France Foreign Investment Control – New Rules Temporarily Applicable to non-EU/EEA Investments Enter Into Force Today
On July 23, 2020, the Government published a Decree no. 2020-892 (the “Decree”)[1] and a Ministerial Order (the “Ministerial Order”)[2] both of July 22, 2020 on the temporary lowering of the threshold triggering control of foreign investments in French listed companies. The Decree aims to temporarily reduce the threshold triggering review of non-EU/EEA investments when targeting French listed companies in the context of the COVID-19 pandemic. As explained by the French Minister for the Economy, “[w]hile most foreign investment transactions are opportunities for French companies, the volatility of financial markets and the very sharp decline in the valuations of a large number of companies make them particularly vulnerable to potential unfriendly transactions, which calls for increased vigilance ».[3]…
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European Commission Urges Member States to Protect Suppliers of Essential Products from Foreign Takeovers
In a March 25, 2020 communication, the European Commission (“EC”) issued guidance on the screening of foreign direct investments (“FDI”) in the context of the COVID-19 pandemic. The communication identifies an increased risk of attempts by non-EU acquirers to obtain control over suppliers of essential products, in particular healthcare sector products. The EC calls on Member States to make use of pre-existing FDI regimes, and to introduce robust screening mechanisms where they do not already exist, to protect “critical health infrastructure, supply of critical inputs, and other critical sectors.” The communication builds on the increasing coordination among Member States that was already encouraged by the EU FDI Screening Regulation that comes into effect in October 2020.
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Two Years On: Implementation of the New Methodology in Anti-Dumping Cases
Regulation 2017/2321,[1] which introduced a new methodology for calculation of normal value[2] in trade defence cases (“New Methodology”), entered into force on December 20, 2017 (see here). Two years on, a review of the Commission’s implementation practice provides useful insight into questions of evidentiary burden, practical application, and selection of representative third country.
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EU Publishes Non-Binding Guidance on Internal Compliance Programmes for Dual-Use Trade Controls
Posted in Dual Use, Europe, Europe Trade, European Union, Export Control, International Trade, Sanctions
On August 5, 2019, the European Commission (“Commission”) published its official Guidance on Internal Compliance Programmes (“Guidance”).[1] The Guidance aims to clarify and harmonize implementation of Regulation 428/2009 on Dual-Use Goods[2] (“Dual-Use Regulation”) by competent Member State authorities (“national export authorities”) and EU-based exporters of dual-use goods (“exporters”). While the Guidance is non-binding, national export authorities will take it into careful account when considering applications to export, transit or broker dual-use items.
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The EU and UK Agree on Arrangements for Brexit Transition Period and Future Relationship Framework
On November 14, 2018, almost a year and a half after the British public voted to exit the EU, the UK and EU reached agreement on the terms of separation manifested in a draft Withdrawal Agreement. This draft text updates an earlier version published in March 2018. Subsequently, on November 22, the EU and UK published the accompanying draft Political Declaration that sets out key principles of the future relationship. On November 25, the European Council endorsed these two texts. This post summarizes the key outcomes with respect to trade in goods, the continued applicability of EU law and European Court of Justice jurisdiction, and dispute settlement during the transition period, as well as the framework for the EU and UK’s future relationship.
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Fast-Moving Political Developments Increase the Pressure for Reactive Sanctions Implementation
Over the past few months a number of developments have highlighted the growing pressure in favour of reactive sanctions implementation in the EU and the UK.
New EU chemical weapons sanctions regime
On October 15, 2018, the Council of the EU adopted a new programme of restrictive measures (Council Regulation (EU) 2018/1542). Where necessary to address the use or proliferation of chemical weapons, the EU is now able to impose asset freezes and travel bans on persons and entities anywhere, regardless of their nationality and location, and forbid EU persons and entities from making funds available to them.…
EU Trade Quarterly Summary
This Trade Summary provides an overview of WTO dispute settlement decisions and panel activities, and EU decisions and measures on commercial policy, customs policy and external relations, for the first quarter of 2018.
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