This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

EUROPEAN COMMISSION (EC)

The European Commission launches consultation on Trade in e-waste & amendments to the Basel Convention annexes (03.07.2024) – The fifteenth Conference of the Parties to the Basel Convention amended the Basel Convention's Annexes II, III and VIII to bring all imports and exports of electrical and electronic waste under the scope of that Convention. The amendments will enter into force from 1st January 2025 and will apply to all Parties to the Convention, including the EU and its Member States. This initiative incorporates these changes into EU law (EU Waste Shipment Regulation), which is due for publication in April 2024.

The European Commission launches consultation on Tariff quotas – amended rules on reference quantity requirement (03.07.2024) – Regulation (EU) 2020/760 lays down rules for EU importers to apply for import licences. Importers can apply for licenses for up to the average annual quantity of products with the same origin released for free circulation in the EU in the past 2 years. This initiative adjusts the rules on reference quantity to avoid any risk of market distortions posed by recent market developments in some sensitive sectors.

The European Commission launches EU environmental law – 2025 implementation review (05.07.2024) – The environmental implementation review is a regular cycle of analysis, dialogue and collaboration to improve the implementation of EU environmental policy and law in EU countries. This initiative identifies the main implementation gaps in EU countries and addresses their root causes, proposes solutions, provides technical assistance and facilitates the exchange of good practices, raises awareness and makes it easier for everyone involved to find information on implementing these policies.

The European Commission launches consultation on Cooperation on direct taxation (07.07.2024) – Directive 2011/16/EU (directive on administrative cooperation - DAC) establishes a system for secure administrative cooperation between the national tax authorities of EU countries and lays down rules and procedures for exchanging information. This evaluation will assess the effectiveness, efficiency and continued relevance of the DAC and its amendments (DAC2 to DAC6), as well as its coherence with other policy initiatives & priorities and the EU added value.

The European Commission launches consultation on energy labelling requirements for computers (18.07.2024) – The Regulation aims to help consumers choose the most energy-efficient computers by using a scale from A (most efficient) to G (least efficient). The energy label will also provide other useful information on durability and reparability. The consultation covers both the ecodesign and energy labelling initiatives. This consultation covers both the Eco-design and Energy labelling interlinked initiatives. You just need to provide feedback once.

The European Commission launches consultation on Trade in seal products – fitness check of EU rules (07.08.2024) – Seals are hunted in parts of the world for commercial, subsistence and cultural reasons. In 1983, following people's concerns about animal welfare, the EU banned the import of certain seal pup skins. In 2009, a general ban on placing seal products on the EU market was introduced, with two exceptions. This initiative will assess if the rules in place remain fit for purpose, focusing on their socio-economic impact and their impact on seal populations.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

Data protection: Council agrees position on GDPR enforcement rules (13.06.2024) – The Council has reached an agreement on a common member states’ position on a new law which will improve cooperation between national data protection authorities when they enforce the General Data Protection Regulation (GDPR). The Council position maintains the general thrust of the proposal but amends the draft regulation as regards clearer timelines, enhanced and efficient cooperation and early resolution mechanism.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

Road safety: Council of the EU approves conclusions to strengthen the EU’s efforts to achieve its road safety objectives (18.06.2024) – The Council of the EU has approved conclusions on a European Court of Auditors’ (ECA) report aiming to strengthen EU’s efforts to achieve its road safety objectives. The text highlights the importance of investing on high-quality, resilient, and sustainable road infrastructure, and the related road safety planning obligations, as well as of interconnectivity and interoperability of data related to traffic to improve road safety management. Finally, the conclusions acknowledge the potential for road safety of innovative technologies, putting them into perspective regarding driver knowledge and behaviour and with regard to the co-existence with vulnerable road users and with users of human-controlled vehicles.

Greening freight package: Council of the EU adopts its position for a more efficient management of rail infrastructure capacity and traffic (18.06.2024) – The Council of the EU adopted its negotiating position (general approach) on a new regulation on the use of railway infrastructure capacity in the single European railway area. This piece of legislation forms part of the Commission’s ‘greening freight’ package together with proposals on a harmonised system to count EU emissions, on maximum weights and dimensions for heavy-duty vehicles, and the revision of the combined transport directive. The new regulation’s more specific objectives are to: (i) enable more effective capacity management procedures; (ii) strengthen incentives to improve performance of rail infrastructure and rail transport services; (iii) introduce more effective mechanisms for coordination between stakeholders, in particular across borders, and (iv) support the deployment of digital tools enabling better capacity and traffic management. Following the adoption of the Council’s negotiating mandate (general approach), the incoming presidency can begin talks (‘trilogues’) with the European Parliament on this file.

Trans-European transport network (TEN-T): Council of the EU adopts new regulation ensuring better and sustainable connectivity in Europe (13.06.2024) – The Council of the EU adopted a revised regulation regarding EU guidelines for the development of the trans-European transport network (TEN-T). The new law aims to build a reliable, seamless, and high-quality transport network that ensures sustainable connectivity across Europe without physical interruptions, bottlenecks, and missing links. The TEN-T network will be developed or upgraded step by step with the new regulation setting clear deadlines for its completion in three phases: until 2030 for the core network, 2040 for the extended core network and 2050 for the comprehensive network. Following the Council’s adoption, the legislative act will be signed by the presidents of the Council and of the European Parliament before being published in the EU’s official journal in the coming weeks. The revised regulation will enter into force twenty days after this publication.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

EUROPEAN COMMISSION (EC)

The European Commission sends Statement of Objections to Alchem over first pharmaceutical cartel case in the EU (13.06.2024) – The European Commission has informed Alchem International Pvt. Ltd. and its subsidiary Alchem International (H.K.) Limited (together ‘Alchem') of its preliminary view that they have breached EU antitrust rules by participating in a long-lasting cartel concerning an important pharmaceutical product. Alchem is a producer of the pharmaceutical ingredient N-Butylbromide Scopolamine/Hyoscine (‘SNBB'). The Commission has concerns that Alchem may have coordinated and agreed with other market participants to fix the minimum sales price of SNBB to customers (i.e., distributors and generic drug manufacturers) and to allocate quotas. In addition, Alchem may have exchanged commercially sensitive information with competitors. In October 2023, the Commission adopted a settlement decision in relation to the same cartel and concerning other companies.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

Radioisotopes for medical use: the Council adopts its conclusion (17.06.2024) – The Council of the EU has endorsed its conclusions to secure the supply of radioisotopes for medical use as part of the Belgian presidency's priorities. Reiterating the critical role of radioisotopes for medical use in the diagnosis of cancer, heart conditions and other diseases, Council’s conclusions call on the European Commission to act on five key pillars: (i) Europe's global leadership role in the supply of radioisotopes for medical use, making tangible and rapid progress on the relevant actions identified; (ii) The monitoring and forecasting of demand and supply of all relevant radioisotopes for medical use (iii) Research and innovation on topics related to radioisotopes for medical use and other medical-radiological technologies (iv) The evaluation and development of critical skills (v) The evaluation of the framework for the transport of radioisotopes for medical use to help ensure access by patients in all member states. The Council also urges the European Medicines Regulatory Network to review all radiopharmaceuticals authorized in Europe and assess their criticality according to the existing methodology. Finally, the conclusions emphasize the important contribution of European research nuclear reactors and other nuclear facilities capable of producing radioisotopes for medical use at the levels needed to meet long-term needs in the Union, and the importance of these facilities, as well as the expertise that enables the production of these radioisotopes, continuing to be located in the European Union.

EUROPEAN MEDICINES AGENCY (EMA)

Faster access to clinical trial information in Europe (18.06.2024) – The launch of a new version of the Clinical Trials Information System (CTIS) will allow earlier and more efficient access to information about clinical trials in the European Union (EU) for patients, healthcare professionals and other stakeholders. This is due to the revised transparency rules that become applicable on 18th June 2024 in Europe.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

EUROPEAN INVESTMENT BANK (EIB)

Spain: the European Investment Bank Group and Banco Santander to unlock 1.2 billion euro in new financing to back small businesses and mid-caps (18.06.2024) – The European Investment Bank Group has invested 530 million euro in a Banco Santander asset-backed securitisation operation. This investment will enable Banco Santander to unlock almost 1.2 billion euro, contributing to finance green and women's entrepreneurship projects, among others. The operation contributes to EIB Group priorities such as climate action, cohesion, and the development of the European securitisation market.

France: European Investment Bank invests 150 million euro in EDF’s 3 billion euro green bond issued on 11th June 2024 (14.06.2024) – The European Investment Bank (EIB) has invested 150 million euro in a 3 billion euro multi-tranche senior green bond issue from energy company EDF. The EIB investment applies to the longer-term (20-year) bond tranche, with the EIB's contribution representing 12% of the financing for this 1.25-billion-euro tranche. This is the first time that the EIB has participated in an EDF green bond issue. The funds raised will finance investment in adapting the electrical grid to the needs of the energy transition.

Czechia: railway safety and capacity strengthened with European Investment Bank loan of 13 billion euro (13.06.2024) – The European Investment Bank signs 527 million euro loan agreement with Czech Ministry of Finance for major railway upgrade. The financing is part of 2 billion euro EIB operation, to increase the capacity of Czech railways for freight and passenger transport while making them safer and more comfortable. Works to benefit lines across country and strengthen trans-European transport network (TEN-T) with three major corridors running through Czechia.

Bulgaria to get energy boost with European Investment Bank -NEK deal on new hydropower plants (12.06.2024) – The European Investment Bank will help Bulgarian national electricity company NEK prepare to build two large pumped-storage hydropower plants vital to ensuring adequate domestic and EU energy supplies. In particular, the two projects involving the EIB Advisory services bolster the stability of the power grid and integrate more renewable power sources.

Ukraine gets 100 million euro from European Investment Bank loan to rebuild social infrastructure in war-torn cities (11.06.2024) – The European Investment Bank is lending Ukraine 100 million euro to reconstruct social municipal infrastructure damaged in the war against Russia. The funds, agreed at the Ukraine Recovery Conference in Berlin, will be for rebuilding schools, kindergartens, hospitals, social housing and local transport infrastructure as well as ensuring the supply of essential services such as clean water and sanitation. In the face of numerous challenges stemming from Russia’s invasion in 2022, many Ukrainian communities are striving to resume normal life. Reconstructing hospitals and schools and reestablishing social services are crucial steps in this process.

The European Commission and European Investment Bank Group seek to unlock over 1 billion euro for Ukrainian small businesses (11.06.2024) – The European Commission and European Investment Bank Group have moved to support the private sector in Ukraine by seeking to unlock more than 1 billion euro in lending to small and medium-sized enterprises (SMEs). At the Ukraine Recovery Conference in Berlin, the Commission and EIB Group signed agreements for two guarantee facilities totalling 190 million euro. They are designed to enhance access to finance for SMEs in Ukraine by sharing risk with Ukrainian local banks and financial intermediaries.

Ukraine wins 20 million euro EU extension of advisory assistance for economic development (11.06.2024) – The European Investment Bank (EIB) and European Commission have announced a 20 million euro agreement to extend advisory assistance for economic development in Ukraine. The 20 million euro envelope is financed 50/50 by the Commission and the EIB's EU for Ukraine advisory programme. The extension of the advisory aid under JASPERS (Joint Assistance to Support Projects in European Regions) aims to ensure the optimal use of resources for Ukraine’s recovery and reconstruction.

Portugal: the European Investment Bank signs advisory agreement with BPI and Santander to promote green investment (11.06.2024) – The European Investment Bank has signed two advisory service agreements with the BPI and Santander to support them in identifying and financing climate action and environmental sustainability projects. These agreements fall under the scope of the signing of loan and guarantee operations with the EIB to finance the green transition of small businesses and mid-caps, and energy-efficient building renovations. The advisory support aims to raise awareness of and implement the EIB's climate and environmental sustainability requirements, which are in line with the EU taxonomy. The advisory services will also support banks’ capacity, procedures and operational tools for developing green products and promoting best practice for reporting the impact of the projects and monitoring the investments that promote the green transition.

EUROPEAN INVESTMENT FUND (EIF)

Romanian fintech Instant Factoring IFN to expand its debt and institutional capacity to support micro and small companies with the European Investment Fund support (24.06.2024) – The European Investment Fund (EIF) signed a RON 5 million (1 million euro) subordinated loan agreement with Romania-based fintech Instant Factoring IFN to help it expand lending to small businesses in the country. EIF subordinated loan strengthens Instant Factoring’s capital base, helping increase lending to underbanked businesses in Romania. Deal marks first time a Romanian fintech and factoring company receives InvestEU funding. This agreement was facilitated by the InvestEU programme, which aims to trigger over 372 billion euro in additional investment over the period 2021-2027.

The European Commission, the European Investment Bank and the European Investment Fund pave the way for new 300 million euro export credit guarantee facility to support exports by European companies to Ukraine (21.06.2024) – The agreement enables the InvestEU guarantee to be used by the EIB Group’s risk-capital subsidiary, the European Investment Fund, to support the export credit sector, aimed at boosting exports to Ukraine by small and medium-sized companies in the EU. This initiative is part of a wider EU effort to support Ukraine’s economic recovery by promoting trade and economic exchanges.

The European Investment Fund launches Gender Smart Equity Investment Programme (18.06.2024) – The European Investment Fund is launching the Gender Smart Equity Investment Programme, joining forces with national promotional institutions and regional mandators to promote gender diversity in the venture capital and private equity ecosystems by empowering women in leadership positions. The new programme will promote women leaders in venture capital and private equity. Germany and the Netherlands are the first movers on board. The programme is open for pan-EU participation.

Nordic businesses get boost with 30 million euro European Investment Fund backing for Swedish private credit fund (13.06.2024) – The European Investment Fund has committed 30 million euro to Ture Credit Fund III, a fund advised by Stockholm-based Ture Invest Partners AB. The fund aims to close its capital raising in 2024 with a target size of 500 million euro, focusing on institutional investors. Ture Credit Fund III will invest in small and medium-sized enterprises in the Nordic region, focusing on software, healthcare, education and environmental services, incorporating social objectives into the financing.

InvestEU: European Investment Fund and Malta Development Bank agreement to mobilise around 44 million euro in investments in sustainable and creative projects (12.06.2024) – The European Investment Fund (EIF), part of the EIB Group, has joined forces with the Malta Development Bank (MDB) in further driving the green transition in Malta, and supporting cultural and creative businesses by providing the latter with two guarantees totaling 20 million.euro. The operations aim to foster environmental sustainability and cultural activities while boosting the country’s economic development and job creation. It is expected that this new agreement will contribute to mobilise investments in the real economy of around 44 million euro.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

EUROPEAN CENTRAL BANK (ECB)

The European Central Bank publishes first progress report on digital euro preparation phase (24.06.2024) – The European Central Bank published its first progress report on the digital euro preparation phase, which was launched on 1st November 2023 with the aim of laying the foundations for the potential issuance of a digital euro. The report outlines the progress made on key digital euro design aspects and the envisaged next steps for the project.

The European Central Bank publishes its report on Financial Integration and Structure in the Euro Area (18.06.2024) – The European Central Bank latest report on Financial Integration and Structure in the Euro Area shows that large investments are needed, in order to face future needs such as the green and digital transitions, security and aging populations. This can only be possible if the financial systems in the Euro Area are further integrated. Indeed, since its establishment, the Euro Area has demonstrated its strengths by being highly resilient during crises. However, progress in its financial integration has declined significantly over the last two years, without ever increasing by a noteworthy amount since the start of the monetary union. To further financial integration, the ECB calls for policy actions aimed at mobilising available savings, developing Euro Area bond and equity markets, and making these markets more attractive to foreign investors, while also facilitating cross-border banking and harmonising regulatory frameworks and disclosure requirements. 

The European Central Bank publishes its annual review on the euro’s international role (12.06.2024) – According to the ECB’s annual review, the euro remained the world’s second most important currency in 2023. Despite high global inflationary pressures and geopolitical tensions, the share of the euro remained above 19%, according to multiple indicators of international currency use. Moving forward, the ECB recommends a broader integration of the European’s financial and economic systems to increase the resilience of the international use of the euro.

EUROPEAN SUPERVISORY AUTHORITIES (ESAs)

The European Supervisory Authorities publish a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation (18.06.2024) – The European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority published a joint opinion in the context of a comprehensive review of the SFDR framework called by the European Commission. The Opinion argues for the introduction of two straight-forward categories for financial products in the Sustainable Finance Disclosure Regulation: “sustainable” and “transition”. These two categories have the purpose of enhancing the consumers’ comprehension of the products, in order to reduce greenwashing risks and increase the information available to investors. The ESAs also suggests that the European Commission (i) adopt sustainability indicators to grade financial products, (ii) improve the definitions of sustainable investments, and (iii) simplify the way the disclosures are presented to investors.

The European Supervisory Authorities renew the term of the President of the Board of Appeal, and elect a new Vice President (14.06.2024) – Michele Siri, Professor of Insurance and Financial Markets Law, University of Genoa, Italy, was renewed by the ESAs as their Board of Appeal’s President for a new term of two years and a half, and Margarida Lima Rego, Associate Professor and Vice-Dean at NOVA School of Law, NOVA University, Portugal, was appointed as Board of Appeal’s Vice-President for the same time period.

EUROPEAN BANKING AUTHORITY (EBA)

The European Banking Authority publishes amendments to counterparty credit risk standards as part of its new roadmap for the implementation of the Banking Package in the EU (24.06.2024) – The European Banking Authority published its final draft amending Regulatory Technical Standards (RTS) on the standardised approach for counterparty credit risk (SA-CCR). This regulatory product is part of the new roadmap on the Banking Package. The amendments to the Capital Requirements Regulation (CRR3) have expanded the EBA mandate to specify the formula to calculate the supervisory delta of options under the SA-CCR framework. Alongside the supervisory delta formula for interest rate options compatible with negative interest rates, the mandate now also requires the specification of the supervisory delta formula for commodity options compatible with negative commodity prices. Therefore, the existing RTS on SA-CCR have been amended to include the formula for commodity options.

The European Banking Authority updates the Pillar 3 disclosure framework finalising the implementation of the Basel III Pillar 3 framework (21.06.2024) – The European Banking Authority published a final draft implementing technical standards (ITS) on public disclosures by institutions that implement the changes in the Pillar 3 disclosure framework introduced by the amending Regulation (EU) 2024/1623 (CRR 3). These ITS will ensure that market participants have sufficient comparable information to assess the risk profiles of institutions and understand compliance with CRR 3 requirements, further promoting market discipline.

The European Banking Authority publishes its final draft Regulatory Technical Standards under the Capital Requirements Regulation (20.06.2024) – The European Banking Authority  published the final draft for Regulatory Technical Standards (RTS) under the Capital Requirements Regulation (CRR), covering both the conditions for assessing the materiality of model extensions and changes, and the changes to the subset of modellable risk factors, applicable under the Fundamental Review of the Trading Book rules. The draft differentiates material extensions and changes from non-material extensions and changes and sets out a combination of quantitative and qualitative conditions for the categorisation of extensions and changes. This publication completes the June 2019 roadmap on market and counterparty credit risk approaches. 

The European Banking Authority publishes regulatory products under the Markets in Crypto-Assets Regulation (19.06.2024) – The European Banking Authority published the last package of technical standards and guidelines under the Markets in Crypto-Assets Regulation (MiCAR), thereby completing the delivery of its technical standards under the regulation. This package covers reporting, liquidity stress testing, as well as supervisory colleges, and it comprises, among others, (i) the Final draft RTS further specifying the liquidity requirements of the reserve of assets; (ii) the Final draft RTS to specify the highly liquid financial instruments; and (iii) the Guidelines on recovery plans.

The European Banking Authority publishes the technical standards and guidelines under the Markets in Crypto Assets Regulation (13.06.2024) – Pursuant to the provisions of the Markets in Crypto Assets Regulation, the EBA published a set of regulatory instruments to develop a well-regulated market for asset-referenced and e-money tokens in the European Union. The regulatory package covers prudential matters. It comprises new regulatory technical standards relating to own fund and liquidity, and new guidelines on recovery plans.

The European Banking Authority issues a revised list of its Implementing Technical Standards validation rules (13.06.2024) – The revised list of Implementing Technical Standards (ITS) validation rules, issued by the EBA, deactivated some of the rules present in older versions of the list. This means that data submitted in accordance with deactivated rules should not be formally validated by the Competent Authorities.

EUROPEAN SECURITIES AND MARKET AUTHORITY (ESMA)

The European Securities and Market Authority publishes the 2023 Annual Report (14.06.2024) – The Annual Report for 2023 illustrates the authority’s key achievements after the first year of implementation of its five-years plan for enhancing investor protection and promoting stable and orderly financial markets in the European Union. The Annual Report

mainly focuses on investor protection, risk monitoring and supervision. In 2023, ESMA has been especially active in the monitoring of risks and resilience of financial markets and in supporting supervisory convergence through extensive work in the digital space. Among others, some of ESMA’s key achievements are: the exploration of new areas of regulation, in preparation for the implementation of the Digital Operational Resilience Act; the launch of a new data strategy for 2023-2028, aiming to leverage technology and data to improve market supervision and investors’ protection; the assessment of greenwashing through a progress report on greenwashing risks and supervision.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

Council reaches agreement for a new regulatory package for retail investment (12.06.2024) – Council reached an agreement for a new regulatory package, aimed at strengthening the EU rules on retail investor protection. The package will provide retail investors with clearer information about investment products and will ensure more transparency and disclosure. Vincent Van Peteghem, Belgian Minister of Finance, commented the agreement by highlighting the need to incentivize retail investors to make sound investment decisions in the EU market, in the hope that their enhanced trust in the capital markets will make their savings flow to innovative European companies, including small and medium enterprises.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

The European Commission launches new public procurement portal (20.06.2024) – DG Trade has expanded the online Access2Markets portal with a new public procurement tool, 'Procurement for Buyers', which will serve as a portal for public procurement entities in EU Member States, helping them to understand and apply international procurement rules in a clear and consistent manner. 'Procurement for Buyers' will help EU contracting entities to find out which bidders are eligible to participate in public procurement procedures in EU member states, based on the provisions of the WTO Government Procurement Agreement (GPA) and bilateral EU trade agreements. It also provides other important parameters, such as applicable requirements regarding the origin of goods and services that may be offered.

EU begins dispute settlement proceedings against Algeria to defend European companies (14.06.2024) – The EU has launched a dispute settlement case against Algeria and requested consultations with Algerian authorities to address several restrictions imposed on EU exports and investments. The EU considers that, by imposing these trade restrictive measures since 2021, Algeria is not respecting its trade liberalisation commitments under the EU-Algeria Association Agreement. The EU aims to find a mutually satisfactory solution during the dispute settlement consultations. If no solution is reached, the EU will be entitled under the EU-Algeria Association Agreement to request the establishment of an arbitration panel.

Trade barriers removed from exports of French and Irish beef to Republic of Korea (13.06.2024) – In a significant development for the European beef industry, the Republic of Korea has officially opened market access for beef from France and Ireland. This positive result follows consistent representations made by the Commission, including through direct outreach by Commission Executive Vice-President Valdis Dombrovskis in Seoul last November, when he raised the removal of restrictions on imports of EU beef with ministers and parliamentarians. French and Irish beef producers will once again be able to export beef to the Republic of Korea, thanks to the European Commission’s efforts to negotiate the removal of local restrictions on EU beef.

The European Commission investigation provisionally concludes that electric vehicle value chains in China benefit from unfair subsidies (12.06.2024) – The European Commission has provisionally concluded that the battery electric vehicles (BEV) value chain in China benefits from unfair subsidisation, which is causing a threat of economic injury to EU BEV producers. In this context, the European Commission has pre-disclosed the level of provisional countervailing duties it would impose on imports of battery electric vehicles (‘BEVs') from China. Should discussions with Chinese authorities not lead to an effective solution, these provisional countervailing duties would be introduced from 4th July by a guarantee (in the form to be decided by customs in each Member State). They would be collected only if and when definitive duties are imposed. The individual duties the Commission would apply to the three sampled Chinese producers would be: (I) BYD:17,4%; (II) Geely:20%; (iii)SAIC:38,1%. Other BEV producers in China, which cooperated in the investigation but have not been sampled, would be subject to the following weighted average duty: 21%. All other BEV producers in China which did not cooperate in the investigation would be subject to the following residual duty: 38,1%.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

EU-NATO: nineth progress report stresses the importance of ever closer cooperation at a key juncture for Euro-Atlantic security (13.06.2024) – The Council of the European Union took note of the ninth progress report on the implementation of the 74 common proposals endorsed by the EU and NATO Councils on 6th December 2016 and 5th December 2017. The report highlights and elaborates on the tangible progress achieved between June 2023 and May 2024 underpinned by a continued robust political dialogue. The current challenges to international peace and stability - such as Russia’s unprovoked and unjustified war of aggression against Ukraine, the war in Gaza, but also other crisis and tensions at the European Union's neighbourhood and beyond – make the transatlantic bond and close EU-NATO cooperation more important than ever. The two organisations continue to play complementary, coherent and mutually-reinforcing roles in supporting international peace and security to the benefit of all EU member states and NATO allies, with a view to upholding and promoting the shared values and interests of the Euro-Atlantic community.

WORLD TRADE ORGANIZATION (WTO)

Next steps for the World Trade Organization in combating illicit trade (17.06.2024) – Illicit trade harms societies and impedes economic growth and development. As well as undermining legitimate business activity, it fosters corruption and denies governments potential tax revenue needed to invest in society. This is why the World Trade Organization Secretariat, under the leadership of Director-General Ngozi Okonjo-Iweala, has been examining how WTO rules help members to address some of the challenges posed by such trade. In particular, the World Trade Organization Secretariat has launched a new publication on illicit trade in food and food fraud to address the role the WTO could play in helping to tackle this issue.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

The EU signs 1.4 billion euro of new guarantee and grant agreements to support Ukraine's recovery and attract private sector investments (11.06.2024) – At the Ukraine Recovery Conference 2024 in Berlin, European Commission President Ursula von der Leyen announced the signature of 1.4 billion euro in new guarantee and grant agreements to support Ukraine's recovery and reconstruction, as part of the Ukraine Facility's Investment Framework. These agreements underscore the EU's steadfast commitment to support Ukraine for as long as it takes.

The European Commission proposes to extend temporary protection for people fleeing Russian aggression against Ukraine until March 2026 (11.06.2024) – The European Commission has proposed to extend the temporary protection for people fleeing Russia's aggression against Ukraine for another year, from 5th March 2025 to 4th March 2026. Given continued Russian attacks on the civil and critical infrastructure across Ukraine, safe and durable conditions for the return of people to Ukraine are not currently in place. The Commission therefore considers that the reasons for temporary protection persist, and that it should be prolonged for another year as a necessary and appropriate response to the current situation. The ultimate goal is to ensure that all those fleeing Russia's war of aggression can find protection in the EU, and that those almost 4.2 million people that are already benefiting from temporary protection in the EU Member States are provided with as much stability as possible under the current circumstances.

COUNCIL OF THE EUROPEAN UNION (COUNCIL)

The Council of the EU adopts the 14th package of sanctions against Russia (24.06.2024) – The Council of the EU formally adopted the 14th package of economic and individual restrictive measures against Russia. These measures are designed to target high-value sectors of the Russian economy, like energy, finance and trade, and make it ever more difficult to circumvent EU sanctions. The package foresees more than 100 individuals and entities listed, bringing the total to more than 2.200. Amongst new provisions, there will be three affecting imports, investments and transshipments of Russian liquefied natural gas. A number of additional tools will be introduced to combat sanctions circumvention, particularly for subsidiaries of European companies in third countries. Other measures are expected to limit the circumvention of sanctions by air, road and sea with restrictions in the transport sector. New restrictions on the export of dual-use goods and technologies to third countries will also be introduced. Finally, new measures on financial transfers are planned.

Sudan: the Council lists six individuals for undermining stability and political transition (24.06.2024) – The Council adopted restrictive measures against six individuals responsible for activities undermining the stability and political transition of Sudan, where fighting is still ongoing between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) and their respective affiliated militias. On the RSF side, the new listings include Abdulrahman Juma Barakallah, a General commanding the RSF in West Darfur who is responsible for committing atrocities and other abuses, instigating ethnically motivated killings, targeted attacks on human rights activists and defenders, conflict-related sexual violence, and the looting and burning of communities. They also include the RSF’ financial adviser, as well as a prominent tribal leader of the Mahamid clan affiliated with the RSF in West Darfur. On the SAF side, sanctions target the Director General of Defense Industry System (DIS), a company already sanctioned by the EU, and the Commander of the Sudanese Air Force, El Tahir Mohamed El Awad El Amin, for their responsibility in the indiscriminate aerial bombing of densely populated residential areas since the beginning of the conflict. Ali Ahmed Karti Mohamed, a former Sudanese Minister of Foreign Affairs under the Government of Omar al-Bashir is also listed. Those targeted are subject to an asset freeze and a prohibition on the provision of funds or economic resources to them, directly or indirectly. Additionally, they are subject to travel bans in the European Union.

Iran: The High Representative issued a statement on behalf of the EU on alignment of certain third countries concerning restrictive measures (17.06.2024) – On 31st May 2024, the Council adopted Decision (CFSP) 2024/16051 amending Decision (CFSP) 2023/1532 concerning restrictive measures in view of Iran’s military support to Russia’s war of aggression against Ukraine and to armed groups and entities in the Middle East and the Red Sea region. The Council considered that six persons and three entities should be included in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in the Annex to Decision (CFSP) 2023/1532.

Russia's illegal annexation of Crimea and the city of Sevastopol: EU extends sanctions for further year (17.06.2024) – The Council decided to renew the sanctions introduced by the EU in response to the illegal annexation of Crimea and the city of Sevastopol by the Russian Federation, until 23rd June 2025. The restrictive measures currently in place were first introduced in June 2014, and include prohibitions targeting the imports of products originating from the illegally annexed Crimea or Sevastopol into the EU, and infrastructural or financial investments and tourism services from the illegally annexed Crimea or Sevastopol. Furthermore, the exports of certain goods and technologies to Crimean companies or for use in illegally annexed Crimea in the transport, telecommunications and energy sectors or for the prospection, exploration and production of oil, gas and mineral resources are also subject to EU restrictions.

This newsletter provides a selection of opinions and analysis from our EU legal experts on interesting policy developments, recent case law and new regulatory directions of major industry practices. It is released biweekly and covers areas such as: Competition Law, Sanctions, Trade, Energy, Finance, EU funds, Data IP and Privacy, Life Sciences, Transport and Court of Justice of the European Union news.

The aim is to provide an up–to–date tool for quick and easy consultation on the most current and important topics at EU level.

The European Commission sends preliminary findings to Apple and opens additional non-compliance investigation against Apple under the Digital Markets Act (24.06.2024) – The European Commission has informed Apple of its preliminary view that its App Store rules are in breach of the Digital Markets Act (DMA), as they prevent app developers from freely steering consumers to alternative channels for offers and content. In addition, the Commission opened a new non-compliance procedure against Apple over concerns that its new contractual requirements for third-party app developers and app stores, including Apple's new “Core Technology Fee”, fall short of ensuring effective compliance with Apple's obligations under the DMA. If the Commission's preliminary views were to be ultimately confirmed, none of Apple's three sets of business terms would comply with Article 5(4) of the DMA, which requires gatekeepers to allow app developers to steer consumers to offers outside the gatekeepers' app stores, free of charge. The Commission would then adopt a non-compliance decision within 12 months from the opening of proceedings on 25th March 2024.

Germany: the European Commission approves 3 billion euro German State aid scheme to support the development of Hydrogen Core Network (21.06.2024) – The European Commission has approved, under EU State aid rules, an estimated 3 billion euro German scheme to support the construction of the Hydrogen Core Network (‘HCN'). The measure will contribute to the achievement of the objectives of the EU Hydrogen Strategy and 'Fit for 55' package, by enabling the creation of hydrogen transmission infrastructure that is needed to foster the use of renewable hydrogen in industry and transport by 2030. The measure aims to facilitate investments in the construction of the HCN. Necessary investments include (i) repurposing of existing gas pipelines to transport hydrogen, and (ii) building new hydrogen pipelines and compressor stations. The construction and operation of the HCN will be financed by hydrogen transmission system operators (TSOs), who will be selected by the German federal network agency, Bundesnetzagentur. The aid will take the form of a State guarantee which will allow the TSOs to obtain more favourable loans to cover initial losses in the ramp-up phase of the HCN. At first, Germany expects only a small number of consumers to be using the network, and the tariffs will be lower than otherwise needed to cover relevant costs, to encourage this use and facilitate the uptake of hydrogen.

The European Commission carries out further unannounced antitrust inspections in tyres sector cartel investigation (18.06.2024) – The European Commission is carrying out unannounced inspections at the premises of a consultancy firm in two Member States. Inspections are conducted in the context of an investigation for which the Commission carried out inspections earlier in 2024, that saw as products concerned by the inspections new replacement tyres for passenger cars, vans, trucks and busses sold in the European Economic Area. The European Commission is concerned that price coordination took place amongst the inspected companies, including via public communications. In particular the European Commission is concerned that the consultancy firm may have facilitated or instigated the suspected price coordination amongst tyre manufacturers, which allegedly also used public communications channels to collude.

Italy: the European Commission approves 570 million euro Italian State aid scheme to reduce emissions in ports (17.06.2024) – The European Commission has approved, under EU State aid rules, a 570 million euro Italian scheme to incentivize ships to use shore-side electricity when they are at berth in maritime ports. The measure contributes to reducing greenhouse gas emissions, air pollution and noise in line with the objectives of the European Green Deal. Under the scheme, the aid takes the form of a reduction of up to 100% of the so-called ‘general system charges'. Those charges are included in the electricity price and aimed at financing certain public policy objectives, including renewable energy. The reduction will result in a lower electricity price for ship operators when purchasing shore-side electricity and will bring the cost of electricity at a competitive level with the cost of producing electricity on-board through fossil-fueled engines. By lowering the cost of shore-side electricity for ships, the measure will incentivize ship operators to opt for the more environmentally friendly electricity supply, thereby avoiding significant greenhouse gas emissions, air pollutants and noise emissions.

Germany: the European Commission opens in-depth State aid investigation into measures to support local bus transport operator WestVerkehr (13.06.2024) – The European Commission has opened an in-depth investigation to assess whether certain support measures to German local public transport company WestVerkehr GmbH (‘WestVerkehr') are in line with EU State aid rules. The alleged aid measures are: (i) a direct award of a public service contract by the district of Heinsberg to WestVerkehr; (ii) a profit and loss transfer agreement between WestVerkehr and its majority shareholder NEW Kommunalholding GmbH; (iii) a payment into WestVerkehr's capital reserve by its minority shareholder Kreiswerke Heinsberg GmbH; and (iv) a current account agreement between WestVerkehr and Kreiswerke Heinsberg. NEW Kommunalholding and Kreiswerke Heinsberg are companies in which the district of Heinsberg holds shares. The Commission takes the preliminary view that these four measures constitute State aid.

The European Commission sends Statement of Objections to Alchem over first pharmaceutical cartel case in the EU (13.06.2024) – The European Commission has informed Alchem International Pvt. Ltd. and its subsidiary Alchem International (H.K.) Limited (together ‘Alchem') of its preliminary view that they have breached EU antitrust rules by participating in a long-lasting cartel concerning an important pharmaceutical product. If the Commission's preliminary view were confirmed, such behaviour would violate EU rules that prohibit anti-competitive business practices such as collusion on prices and market sharing. The sending of a Statement of Objections does not prejudge the outcome of the investigation.

Czech Republic: the European Commission calls for improvement of competition in organising waste collection and recovery in the packaging sector (11.06.2024) – The European Commission has informed Czechia that measures appointing EKO-KOM as the only company authorised for the collection and recovery of packaging waste for over two decades may be in breach of the EU competition rules. The Commission's preliminary view is that certain provisions of the Czech Packaging Act as well as Czechia's enforcement of such rules may have created significant entry barriers for rival companies. Such barriers include authorisation requirements that are very difficult to meet, such as strict contractual and financial conditions. The European Commission has voiced its competition concerns in the form of a Letter of Formal Notice. If the Commission's preliminary view is confirmed, this conduct would infringe Article 106 of the Treaty on the Functioning of the European Union (‘TFEU') in conjunction with Article 102 TFEU.

Hungary: the European Commission finds support for new auto parts plant in Észak Magyarország to be incompatible State aid (11.06.2024) – The European Commission has concluded that Hungary's plan to support the construction of a new automotive components plant in Észak Magyarország is not in line with EU State aid rules. Therefore, the aid cannot be granted by Hungary. Indeed. the available evidence showed that the beneficiary had decided to invest in Hungary without considering the public support and there was no sufficient evidence that the investment would take place in another location. Since the public support did therefore not have a real "incentive effect" and it did not effectively encourage GKN Automotive Hungary to invest in the specific region of Észak Magyarország, the aid is incompatible with EU State Aid rules. Therefore, the aid cannot be granted by Hungary.