Trade & Sanctions

Contract Notice: HELP Flag Innovation Evaluation

The UK Government has published a contract notice for the independent evaluation of the HELP Flag Innovation. The contract, valued at £115,000 including VAT, was awarded to South West Peninsula AHSN Limited by the University of Exeter and is scheduled for completion by December 2026.

OFAC Venezuela Removals and Russia General License Update

The Office of Foreign Assets Control (OFAC) has removed certain entities and vessels from the Specially Designated Nationals (SDN) List related to Venezuela. Additionally, OFAC issued an amended Russia-related General License 129A, authorizing certain transactions involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH.

OFAC Issues Russia Oil License and Amends Venezuela Oil FAQ

The US Department of the Treasury's OFAC has issued Russia-related General License 133, authorizing the delivery and sale of Russian crude oil loaded on vessels as of March 5, 2026, to India. OFAC also amended a Venezuela-related FAQ concerning the resale of Venezuelan oil to Cuba.

CBAM Common Central Platform Services Call for Tender

The European Commission has published a call for tender for services related to the Carbon Border Adjustment Mechanism (CBAM) Common Central Platform (CCP). Interested economic operators must submit their offers by 20 March 2026. The CCP will be operational from 1 February 2027.

EU Customs Operation Finds Non-Compliance in Online Purchases

An EU-wide customs operation found that a significant majority of cosmetic products, personal protective equipment, and food supplements purchased online from third countries do not comply with EU product standards. The operation checked over 11,000 items between October and December 2025, with non-compliance rates ranging from 60% to 65%.

EU Taxation: Call for Evidence on Simplifying Direct Taxation Rules

The European Commission has launched a call for evidence to gather feedback on simplifying EU direct taxation rules. The initiative aims to streamline corporate tax directives and reduce administrative burdens for businesses, with feedback requested until March 16, 2026.

EU Commission Updates Training for Customs and Tax Professionals

The European Commission has introduced a new training course for SMEs and tax officials on the Special Scheme for Small Enterprises, effective January 1, 2025. Additionally, the SAMANCTA training program for customs professionals has been updated. Both resources are available on the EU Learning Portal.

EU Customs Recognition Cycle 2026: Next Steps and Timelines

The European Commission has published the timelines and next steps for the 2026 EU Customs Recognition Cycle. Applicants, including educational institutions and importers/exporters, can expect eligibility checks, assessments, and final decisions by September 30, 2026.

EU Oil Price Cap FAQs on Russia/Belarus Sanctions

The European Commission has published Frequently Asked Questions (FAQs) regarding the oil price cap on Russian and Belarusian crude oil and petroleum products. These FAQs aim to clarify compliance requirements and address potential circumvention risks associated with the sanctions regime.

EU-GCC Joint Statement on Iran's Attacks Against GCC States

The EU and GCC foreign ministers issued a joint statement condemning Iran's attacks against GCC states and reaffirming their strategic partnership. The statement calls for Iran to cease attacks, reiterates commitments to regional stability, and affirms the GCC's right to self-defense.