The United Kingdom, France and Germany suggested they would support a continued arms embargo against Iran but opposed U.S. threats of snapback sanctions. The scheduled expiration of the embargo would have “major implications for regional security and stability,” the countries said in a June 19 statement, adding that they plan to discuss the matter with Russia or China. But the three nations rejected U.S. threats to invoke snapback sanctions under the Iran nuclear deal if the embargo is not extended (see 2006090047). “Any unilateral attempt to trigger [United Nations] sanctions snapback would have serious adverse consequences in the UN [Security Council],” they said.

The United Kingdom updated a guidance on June 19 detailing security and political risks for companies operating in Azerbaijan. The guidance includes updated information on risks related to intellectual property theft, organized crime, human rights violations, bribery and corruption, and terrorism.

The European Union called U.S. sanctions against the International Criminal Court “unacceptable” and said it will defend the court from the U.S. measures (see 2006110028). “The European Union remains committed to defending the Court from any outside interference aimed at obstructing the course of justice and undermining the international system of criminal justice,” Josep Borrell, the EU’s foreign policy chief, said in a June 16 statement, adding that the sanctions are “unprecedented in scope and content.” He urged the U.S. “to reverse its position.”

The Eurasian Economic Commission lifted restrictions on exports of soybeans, a June 12 U.S. Department of Agriculture Foreign Agricultural Service report said. The measure allowed soybeans exports from the Eurasian Economic Union as of June 1, USDA said. The soybeans were previously restricted under a temporary EAEU ban on a range of food products due to the COVID-19 pandemic. That ban is expected to end June 30. The EAEU includes Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The EEC is its regulatory body.

The European Union trade policy is under review, aiming for a “fresh medium-term direction” for its trade agenda, a June 16 European Commission news release said. The EC is seeking input from industry, lawmakers and member states to help it respond to “new global challenges” arising from the COVID-19 pandemic. Trade Commissioner Phil Hogan said the EU needs a “tougher approach” to defend against “abusive” trade actions. “The current pandemic is reshaping the world as we know it, and our trade policy must adapt to be more effective in pursuing European interests,” Hogan said in a statement. “With this review, we will listen to everyone who has a stake.”

To operate in the Netherlands, cryptocurrency providers must establish sanctions compliance controls, a June 11 EU Sanctions blog post said. The regulation, announced last month, calls for providers to register with the Dutch Central Bank, which requires “adequate internal measures and controls to ensure compliance” with EU and Dutch sanctions requirements, the post said. The bank may deny a registration if it does not approve of a company’s compliance program.

The United Kingdom updated its guidance on tariffs that it will impose beginning Jan. 1, 2021, after it formally leaves the European Union, a June 11 notice said. The update “added text to explain that some inconsistencies” in the U.K.’s new “global tariff” were corrected. The guidance also provides information on how the tariffs will apply, how industry can check tariffs, and details for tariff relief on certain goods due to the COVID-19 pandemic.

Certain European Union countries should lift internal border restrictions on travel by June 15, the European Commission said June 11. The press release said the 26 Schengen Area member states of Western Europe are among these countries. While the commission is not proposing an EU-wide lifting of travel restrictions “given that the health situation” in certain countries is still “critical,” the restrictions should be lifted for other nations that are no longer experiencing health issues and that can “apply containment measures during travel.” The EU wants to remove restrictions on travel to the EU starting July 1, EU Home Affairs Commissioner Ylva Johansson said. “International travel is key for tourism and business,” she said. “While we will all have to remain careful, the time has come to make concrete preparations for lifting restrictions with countries whose health situation is similar to the EU's.”

Cyprus will defer value-added tax payments for companies affected by the COVID-19 pandemic, according to a June 10 news release. Under the measure, Cyprus will not impose penalties or interest on VATs that were due by April 10, May 10 or June 10 as long as they are paid by Nov. 10, the release said.

Germany will temporarily reduce value-added tax rates, a June 9 KPMG post said. The measure, in effect July 1-Dec. 31, will reduce the standard VAT rate from 19% to 16% and the VAT “reduced rate” from 7% to 5%, the post said. The reductions aim to help mitigate impacts of the COVID-19 pandemic.