On June 23, 2023, the EU released its 11th package of sanctions on Russia. This package is designed to improve enforcement with new anti-circumvention rules, new trade restrictions, and new designations. The anti-circumvention rules are quite a novel aspect and could result in the first extraterritorial reach of European sanctions.
On September 13, 2017, the EU Commission released a proposed regulation establishing a framework for screening Foreign Direct Investments (FDI) in Europe. Several EU Member States have already implemented national mechanisms enabling them to intervene in transactions that the States believe endanger their national interest. However, there is no harmonized regime for reviewing FDI into the EU other than the EU Merger Regulation (EUMR). The EUMR focuses only on competition and does not take into account security or public order concerns. This new proposal addresses the more political notion of “national security”.
Continue Reading CFIUS for Europe? New Screening of Foreign Direct Investments in Europe