In response to Russia’s invasion of Ukraine, the United States has imposed significant restrictions on exports to Russia.  Effective February 24, 2022, goods covered by Categories 3-9 of the Commerce Control List (CCL) are subject to license requirements and licensing is under a “policy to deny.”  The involved CCL categories cover:  Electronics; Computers; Telecommunications; Information Security; Sensors and Lasers; Navigation and Avionics; Marine; and Aerospace and Propulsion.  These restrictions apply to exports, re-exports, and in-country transfers.  The new measures...

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Economic Calendar: March Meetings March 1: Reserve Bank of Australia March 2: OPEC+ Meeting March 10: US CPI March 16: Central Bank of Brazil March 18: Central Bank of Russia March 1: US President’s State of the Union Address March 4: US Employment Data March 13: Colombian Parliamentary Election March 17: Bank of England March 23: UK CPI March 2: Bank of Canada March 9: South Korean Presidential Election March 15: UK Employment Data March 17: Central Bank of Turkey March 24: Bank of Mexico March 2: Eurozone flash CPI March 10: European Central Bank March 16:...

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The second part of the 2021-2022 EIB Climate Survey explores people’s views on climate change in a rapidly changing world. The results from this release focus on citizens’ individual behaviour and the actions they are taking to combat climate change. Explore the results from this release of the Climate Survey. Main findings 78% of Europeans feel they are doing all they can to fight climate change in their daily lives, but the majority believe that their compatriots are not doing the...

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On Wednesday, the European Commission formally adopted the proposed regulation on harmonised rules on fair access to and use of data, otherwise known as the Data Act. The Data Act forms a key cornerstone of the European strategy for data, and is expected to make a crucial contribution to the digital transformation objective of the “Digital Decade”. Through the Act, the European Union aims to kick-start innovation across all member states by pushing companies across all sectors of Europe’s economy to...

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On February 4, 2022, the United States Department of the Treasury (the Treasury) issued a report titled, "Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art." The report discusses how the high-value art market, including certain non-fungible tokens (NFTs), is vulnerable to financial crime and susceptible to abuse by illicit actors. The report concludes with recommendations that would require certain art market participants to implement and maintain anti-money laundering / countering...

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With Russia’s military invasion of Ukraine, the “Theatre of Operations” has already included the Cyber Domain, with cyber-attacks launched in recent days against Ukrainian government websites, banks, corporations, and other organizations. Given the interconnected and open nature of the Internet, it is therefore prudent to consider the possibility that either direct or collateral cyber-damages could affect businesses around the world, among them those in Europe and the United States.  In light of recent events, therefore, we recommend reviewing the following...

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