The U.K.'s Office of Financial Sanctions Implementation updated information on upcoming webinars and events covering topics including how sanctions can affect business, how to apply for licenses, how licenses are assessed and how to access sanctions guidance. The next event, in October, is an introductory webinar to OFSI.

The German Foreign Office tweeted last week that it would support EU sanctions against the leaders of the July coup in Niger. The country said it recently held talks in Nigeria on how to support the Economic Community of West African States, which suspended Niger as a member following the coup. Germany said "we are in favour of EU sanctions against the leaders of the coup as a next step."

The European Commission this month released its annual report on political and economic developments in Hong Kong, saying the region continues to see a decline in “fundamental freedoms,” partly caused by its National Security Law. The bloc reminded industry that several EU trade restrictions in response to the law remain in force, including “scrutiny and limitation of exports of sensitive equipment.” The EU also said Hong Kong’s trade and logistics sector “contracted” over the past year. Hong Kong's GDP from its import and export industry fell by 6.9% in the first half of 2022 compared with the same time period in 2021, and “external trade in goods” dropped 4% year over year in the first 10 months of 2022, the report said.

The EU this month launched a public consultation period for a set of new proposed requirements for physical and digital labeling of textiles. The bloc is accepting public comments through Sept. 30 on the changes, which are aimed at addressing “shortcomings in the current rules as well as diverging labelling requirements between Member States.” The rules could ensure textile imports into the EU have “comparable information” for consumers, “notably on environmentally relevant aspects.” The EU also said it wants to “reduce compliance costs” and “ensure regulatory clarity and consistency.”

A group of European countries not in the EU aligned with an Aug. 3 European Council decision adding names to its Belarus sanctions regime. The council tacked on 38 individuals and three entities to the list, subjecting them to an asset freeze and travel ban. The countries of North Macedonia, Montenegro, Albania, Ukraine, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway also imposed the decision, the council said Aug. 21.

The U.K.'s Office of Financial Sanctions Implementation on Aug. 21 amended the entries for eight people and one entity under its North Korea sanctions list. The entity is North Korea's Munitions Industry Department, and the people are political, military or business leaders in North Korea.

The U.K. High Court of Justice's Administrative Court on Aug. 18 rejected a sanctions designation appeal by Eugene Shvidler, an associate of Russian oligarch Roman Abramovich and a director of mining giant Evraz. The court ruled the designation was "proportionate" and not "discriminatory."

The EU this week launched an investigation into whether certain imports of biodiesel from Indonesia -- consigned from China and the U.K. -- are circumventing the EU’s countervailing duty measures. The bloc began the probe after receiving a July request from the European Biodiesel Board, which showed “sufficient evidence” that the imports may be violating the CV duties, the EU said Aug. 17.

Russia will raise its export duty on oil by $4.50 to $21.60 per ton starting Sept. 1, the Russian Finance Ministry announced. According to the state-owned news agency Tass, the export duty per ton will amount to $6.40 on light oil products and oils, $21.40 on dark oil products, $6.40 on commercial gasoline and $11.70 on straight-run gasoline. The duty for liquefied natural gas will remain at zero, while the coke duty will be $1.30 per ton.

The U.K. Financial Conduct Authority’s annual report last month included a more “pronounced” focus on sanctions compliance, including details on the government’s ongoing “assessments” of companies’ compliance programs, Baker McKenzie said in an August client alert. The firm said financial institutions operating in the U.K. should be aware that they may need to report potential sanctions violations to the FCA as well as to the country’s Office of Financial Sanctions Implementation, and firms should “re-review their sanctions compliance policies and procedures” due to the FCA’s “focus on the effectiveness of a bank’s financial crime systems and controls.”