The U.K.'s exit from the EU has led to a 16% drop in trade from the U.K. to the EU and a 20% decline in trade from the EU to the U.K. "relative to the scenario in which Brexit had not occurred," according to data from Ireland's Economic and Social Research Institute. ESRI looked at product-level data on goods trade flows from 2021 for the report. Ireland saw a large decline in British imports, though its exports to the U.K. have remained relatively untouched, an Oct. 19 ESRI news release said.
The EU is considering another set of sanctions on Iranian individuals and entities shortly after adding more names to its Iran restrictions list following the rising number of Iranian-made drones used in Russian attacks throughout Ukraine, Bloomberg reported Oct. 18. Ukraine has proffered several reports and intelligence assessments showing Iran likely delivered the drones to Russia during the summer to be used in the war in Ukraine. Iran has denied providing the drones, and EU member states want more proof before adding Iranian sanctions, Bloomberg said. The EU likely will make progress toward added sanctions this week, the report said.
The U.K. implemented a General License Oct. 17 permitting individuals and entities designated under the Belarus and Russia sanctions regimes and companies owned or controlled by these sanctioned parties to pay funds to the London Court of International Arbitration to cover arbitration costs. The license also permits the LCIA to use funds deposited by sanctioned parties, companies owned or controlled by sanctioned parties or their legal representatives before their listing. The license "is of indefinite duration."
Switzerland added 30 individuals and seven entities to its Russia sanctions regime, bringing its list in concert with the EU's, the Swiss Federal Council announced. The newly listed parties were involved in the "referendums" organized by Russia in four areas of Ukraine. Switzerland said listed parties' assets must be frozen and reported to the State Secretariat for Economic Affairs, and the restrictions already applicable to the Donetsk and Luhansk regions also will apply to Zaporizhzhia and Kherson.
The EU added 11 individuals and four entities to its Iran sanctions regime, the European Council said in an Oct. 17 news release. The newly listed parties include those involved in the death of Mahsa Amini, who was killed after her arrest for violating the country's strict veiling laws, and in the subsequent violent response to the protests in Iran. The council listed Mohammad Rostami and Hajahmad Mirzaei, key figures in Iran's Morality Police, along with Issa Zarepour, the Iranian minister of information and communications technology, for his role in shutting down the internet. They are subject to an asset freeze and travel ban. The EU also designated the Iranian Law Enforcement Forces and a number of its local chiefs for repressing the protests. The totals under the Iran sanctions regime now stand at 97 individuals and eight entities.
The EU extended its sanctions regime covering ISIL/Da'esh and al-Qaida and individuals and entities associated with them for another year, until Oct. 31, 2023, the European Council announced Oct. 17. The sanctions cover 13 individuals and four entities, subjecting all to an asset freeze and the individuals also to a travel ban.
Groups of European countries not in the EU aligned themselves with three of the bloc's recent sanctions moves, the European Council announced. On Oct. 6, the council barred individuals and entities from providing technical assistance, brokering services, financing or insurance to any third country ships carrying Russian oil above the price cap. The countries of North Macedonia, Montenegro, Albania, Ukraine, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway aligned with the decision, the council said Oct. 13.
Two more weeks of strikes can be expected at Britain's Port of Liverpool, with dockworkers planning the extension after the pay dispute escalated between the union and employer Peel Ports Ltd. over job losses, the Unite union said in a statement Oct. 14. Nearly 600 workers plan to walk out Oct. 24 to Nov. 7 after the ongoing strike that ends Oct. 17 and an original two-week strike that began Sept. 19.
The EU extended its sanctions regime pertaining to Nicaragua for another year until Oct. 15, 2023, the European Council announced Oct. 13. The current restrictions subject 21 individuals and three entities to an asset freeze and the individuals also to a travel ban. The EU imposed the sanctions in response to the Nicaraguan government's decision to kick the EU delegation head out of the country and cut diplomatic ties with the Netherlands.
The EU renewed its sanctions regime against the proliferation and use of chemical weapons for another year, until Oct. 16, 2023, the European Council said Oct. 13. The current restrictions in place cover 15 individuals and two entities, placing them under a travel ban and asset freeze.