The U.K. updated its definition of the term "relevant firm" -- as in, a firm subject to certain reporting obligations as part of the country's sanctions legislation. The term now includes crypto-asset exchange providers and custodian wallet providers.
The U.K. suspended its antidumping duty on hot-rolled flat products of iron, non-alloy or other alloy steel from Ukraine, the Department for International Trade announced Aug. 30. The move accepts the Trade Remedies Authority's recommendation to suspend the antidumping duties on the Ukrainian good for nine months, a decision made after the agency found that market conditions for Ukrainian hot-rolled steel changed following Russia's invasion. The TRA said injury to the U.K. industry is unlikely to happen with a nine-month suspension.
The EU has released a new frequently asked questions as relate to its Russia sanctions regime. The European Commission updated its consolidated FAQs page while issuing specific FAQs on central securities depositories; import, purchase and transfer of listed goods; execution of contracts and claims; asset freeze and prohibition on making funds and economic resources available; insurance and reinsurance; reporting obligations under the oil import restrictions; and public procurement.
The U.K. implemented a recommendation from its Trade Remedies Authority to vary the antidumping duty on cold-rolled flat steel products from China and Russia so that it applies for five years from Aug. 5, 2021, the Department for International Trade announced in an Aug. 30 notice. The duties apply to "Flat-rolled products of iron or non-alloy steel, or other alloy steel but excluding of stainless steel, of all widths, cold-rolled (cold-reduced), not clad, plated or coated and not further worked than cold-rolled (cold-reduced)," with various exceptions.
The U.K. Office for National Statistics released a report on the impact of the Russian sanctions regime on British trade with Russia as of June. The report found imports of Russian goods totaled over $38.65 million in June, a 96.6% drop from the average monthly imports in the 12 months to February. The U.K. didn't import any fuel from Russia in June for the first time since records started being kept in January 1997, with alternatives found from Saudi Arabia, the Netherlands, Belgium and Kuwait, the report said. Imports of all commodities declined compared with the monthly average for the 12 months prior to February. While exports slightly increased compared with May, the levels dropped by 66.9% from the monthly average for the 12 months before February, the report said.
Switzerland added two individuals to its Russian sanctions list following their addition to the EU's sanctions regime, the Swiss Federal Council announced: Viktor Fedorovych Yanukovych and his son, Oleksandr Viktorovych Yanukovych. The council said Viktor Yanukovych was a party to a scheme where Yanukovych would have replaced Ukrainian President Volodymyr Zelensky, while Oleksandr Yanukovych has carried out transactions with separatist groups based in Ukraine's Donbas region. The council also amended the entry for Sergey Yurevich Kuzovlev.
The U.K. and Qatar during the third U.K.-Qatar Joint Economic and Trade Committee Aug. 24 announced two new memorandums of understanding to boost trade and investment between the two nations, the U.K.'s Department for International Trade said. The MOUs include a new deal between DIT and Qatar's Investment Promotion Agency to help British businesses enter the Qatari market. The agreement will give information to companies on "strategic investment opportunities," and open the U.K. export market to vitamins and supplements. It allows Holland & Barrett to ship these goods to Qatar, the DIT said.
The U.K. and Ukraine announced that talks on a new digital trade agreement began during an Aug. 23 meeting between British Trade Secretary Anne-Marie Trevelyan and Ukraine's First Deputy Prime Minister Yuliia Svyrydenko. The agreement will seek to drop barriers to digital trade in a bid to boost Ukrainian jobs following the invasion of Russia, the Department for International Trade said Aug. 24. The announcement follows the U.K.'s decision to eliminate tariffs on all goods from Ukraine.
The Office of the U.S. Trade Representative is seeking comments on Russia's implementation of its World Trade Organization obligations, so it can prepare its annual report to Congress on the subject. Written comments and requests to testify at a virtual public hearing are due by Sept. 21 at 11:59 p.m. EDT; the virtual hearing will be held Oct. 4 at 9 a.m. EDT. Comments can be submitted via http://www.regulations.gov, docket number USTR-2022-0011.
The U.K. published a General License Aug. 22 under its Russia sanctions regime permitting crown servants and contractors, and their family members or visiting family members, to "carry out activities in their personal capacity in Russia which would otherwise be prohibited," under the Russian restrictions. Where visiting family members -- the spouse, civil partner, parent, sibling or child of a crown servant or contractor -- are concerned, the license extends only to activities that stem from their being in Russia to visit the household of a crown servant or contractor. The license took effect Aug. 19.