On May 22, 2017, the Council officially authorized the opening of Article 50 negotiations with the UK. It appointed the Commission as the EU’s negotiator and adopted a first set of Negotiating Directives outlining the EU’s priorities for the first phase of negotiations. These directives are in line with, and complement, the (more political) Article 50 Guidelines of the European Council, adopted by the EU 27 Heads of State and Government on April 29, 2017. This last step in a chain of authorization procedures means that the European Commission, led by Chief Negotiator Michel Barnier, now has all the clearances required empowering it to start Brexit talks forthwith.

Continue Reading Adoption of European Commission Mandate – Brexit Negotiations Can Now Start

On May 16, 2017, the EU Court of Justice released its long-awaited opinion on the EU-Singapore Free Trade Agreement (“FTA” ) (“the Agreement”) (full text here). Back in July 2015, after the EU and Singapore completed trade negotiations, the European Commission sought clarity on its authority to conclude complex deals.

The following questions submitted by the Commission have now been answered:

Continue Reading ECJ Issues Opinion on Singapore FTA: Answers to Guide Brexit Trade Negotiators

It took eight years to get to this point, but the dramatic rollercoaster of Canada-EU free trade negotiations will soon start to bear fruit. On May 11, 2017, the Canadian Senate passed Bill C-30, the CETA Implementation Act. Royal Assent was received on May 16. Earlier, on February 15, 2017, the European Parliament approved the Comprehensive Economic and Trade Agreement (“CETA”). This means that the path will very soon be clear for most of the agreement to be applied on a provisional basis, pending institution of relevant Canadian regulations.

Continue Reading Opening Doors to European and Canadian Companies: Imminent Provisional Application of CETA

In recent times, the EU and its trade partners have cranked up momentum on the establishment of a multilateral investment court, with the aim of replacing ad hoc arbitration provisions in investor-state dispute settlement (“ISDS”) for the protection of investors. In our previous post, we noted that this has caused some debate in the Canada-EU trade deal, where this provision led to objections by numerous member states, as well as last minute blocking of Belgium’s approval to the trade accord.

Continue Reading Where Else for Investors to Sue? Multinational Companies Weigh in on a New Investment Court

On March 30 – 31, 2017, Cleary Gottlieb hosted a conference on The Future of Trade Defence Instruments: Global Policy Trends and Legal Challenges.  The event was jointly organized together with the University of Passau, the Europa-Institut Saarbrücken, the Institute of European and International Economic Law & the World Trade Institute – University of Berne.

Continue Reading Cleary Gottlieb Hosts Trade Defence Conference in Brussels

On March 14, 2017, France adopted a decree detailing the organization and functioning of its new anti-corruption authority, including its sanctions commission. The broad powers vested in this new agency are part of a series of sweeping measures adopted by the so-called “Sapin II” law of December 9, 2016. These measures strengthen France’s anti-corruption legislation, and have far-reaching consequences for French and foreign groups.

Continue Reading France Implements Sweeping Anti-Corruption Reform

The UK Government intends to trigger Article 50 TEU by the end of March. This effectively means that the UK will therefore exit the EU by March 2019,  unless there is an extension.

In a speech delivered on January 17, Prime Minister (“PM”) May explained that the UK would not seek to be part of the EU’s customs union, but would instead look to establish a “comprehensive” trade agreement with the EU. In tandem, she noted that the UK would no longer accept the jurisdiction of the European Court of Justice.

Continue Reading Towards Brexit: The Trade Implications

On Friday, January 13, the Obama Administration announced that sanctions against Sudan will be suspended (via issuance of a general license) on Tuesday, January 17. The President also issued an Executive Order eliminating the Sudan sanctions program in six months’ time, on July 12, 2017, if the Secretary of State (in consultation with the heads of other relevant agencies) certifies that the Government of Sudan has continued its positive actions in ending armed conflict in Sudan, improving humanitarian access, and cooperating in the fight against terrorism.

Continue Reading Obama Administration Announces Suspension and Planned Termination of Sudan Sanctions

On January 11, 2017, a bipartisan group of senators introduced a draft bill that, if adopted, would cement and significantly broaden U.S. sanctions relating to the Russian Federation and Ukraine. The authors have dubbed the bill the “Counteracting Russian Hostilities Act of 2017,”[1] but the scope of the bill goes well beyond recent allegations of cyber activities said to have targeted the U.S. presidential election. The bill appears to have broad support, but the position of the Senate Republican leadership is not yet clear, nor is that of the incoming Trump Administration. It is theoretically possible, though not likely, that the bill could be enacted during the last days of the Obama Administration. Amendments prior to enactment are also possible.

Continue Reading Bipartisan Group of Senators Introduces Draft Bill to Expand U.S. Sanctions against Russia

On October 7, 2016, the President issued a new Executive Order, “Termination of Emergency with Respect to the Actions and Policies of the Government of Burma,” which, together with related actions by the President, OFAC, and FinCEN, terminates U.S. sanctions against Myanmar. As a result:

  • Sanctions against Myanmar (Burma) have been lifted;
  • All property and interests in property previously blocked under the Burmese Sanctions Regulations are now unblocked;
  • The Myanmar Specially Designated Nationals (“SDNs”) previously designated under the Burmese Sanctions Regulations have been removed from OFAC’s SDN List
  • Correspondent account restrictions on banks in Myanmar under Section 311 of the USA PATRIOT Act are suspended; and
  • Compliance with the U.S. Department of State’s Responsible Investment Reporting Requirements is now voluntary.

While the Burmese Sanctions Regulations are no longer in effect, please note that:

  • All Myanmar SDNs designated under other OFAC sanctions authorities (e.g., counter-narcotics sanctions) will remain blocked; and
  • The lifting of sanctions does not affect any pending or future OFAC enforcement action with respect to violations committed while the Burmese Sanctions Regulations were still in effect.