Trade & Sanctions

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.

EU Statement on Third Countries Aligning with Russia Sanctions

The EU has announced that eight third countries (Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Moldova, Montenegro, North Macedonia, Norway, and Ukraine) have aligned with the EU's restrictive measures concerning Russia. This alignment ensures their national policies conform to the EU's Council Decision (CFSP) 2026/432, which added eight natural persons to the sanctions list.

Updated Guidance on Open Licence Returns and Exporter Obligations

The UK Export Control Joint Unit and Department for Business and Trade have updated guidance on open licence returns. This update clarifies exporter obligations, return submission requirements, and the process for accurate and timely reporting under revised compliance expectations.

Notice to Exporters: Customs Licence Transmission Issues

HM Revenue & Customs and the Department for Business and Trade have issued a notice regarding issues with licence transmissions from LITE/SPIRE to the Customs Declaration Service (CDS). This is causing customs clearance delays, and affected parties are advised to report declaration problems to CDS.

Export Control Joint Unit: Exporter Notices and E-Alert Sign-up

The UK's Export Control Joint Unit (ECJU) has issued a notice reminding exporters to sign up for e-alerts. This service provides important updates on training and changes to the UK's strategic export licensing regime.

Russia Sanctions Update: General Trade Licence for Fertilisers

The UK's Export Control Joint Unit has updated the general trade licence concerning Russia sanctions, specifically financial services and funds related to fertilisers. This notice provides details on the amendments to the existing licence.

EU Imposes Anti-Dumping Duties on Sweetcorn from China

The European Commission has imposed definitive anti-dumping duties ranging from 31% to 54.3% on sweetcorn imports from China. This action follows a 14-month investigation that found dumped prices were causing injury to the EU's sweetcorn industry, valued at €642 million.

Bank of Scotland Fined for Russia Sanctions Breaches

The Office of Financial Sanctions Implementation (OFSI) has imposed a £160,000 penalty on Bank of Scotland for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019. The breaches involved processing 24 payments totalling £77,383.39 to or from a designated individual's account.

OFSI Report on Vanquis Bank Limited Financial Sanctions Breach

The Office of Financial Sanctions Implementation (OFSI) issued a report against Vanquis Bank Limited (VBL) for breaching financial sanctions regulations. VBL failed to restrict access to a designated person's account for eight days, allowing fund withdrawal and transactions. OFSI deemed the breach moderately severe but not serious enough for a monetary penalty, opting for public disclosure.

OFSI Fines Svarog Shipping £5,000 for Sanctions Non-Compliance

The Office of Financial Sanctions Implementation (OFSI) has imposed a £5,000 monetary penalty on Svarog Shipping & Trading Company Limited for failing to respond to a regulatory request within the required timeframe. This action stems from a breach of the Russia (Sanctions) (EU Exit) Regulations 2019.