New Zealand became the 17th member country to formally accept the World Trade Organization's Agreement on Fisheries and Subsidies, the WTO announced. The deal would impose rules to crack down on subsidies for illegal, unreported and unregulated fishing. New Zealand's announcement means nearly 40% of member states have ratified the deal, which requires acceptance by two-thirds of WTO members to enter into force.
China recently passed a law permitting Chinese courts to hear lawsuits against foreign governments, ending the nation's policy of absolute state immunity. A spokesperson for the Ministry of Commerce said that the law "affirms the fundamental principle that a foreign State and its property enjoy immunity in China," while noting that certain exceptions now exist for disputes involving "a commercial activity, relevant personal injury and property damage." The spokesperson said the law complies with international legal rules.
Canada is choosing to call for a binational panel to determine whether the countervailing duty order on its softwood lumber exports is fair, but is challenging the antidumping order at the Court of International Trade.
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 U.K.'s Export Control Joint Unit on Aug. 11 issued a new general license under its Russia sanctions regime permitting the provision of certain legal advice and services. The license authorizes legal advisory services to any person or entity related to whether an "act or a proposed act complies with" sanctions, export and import controls on Russia. Parties may now provide legal advisory services surrounding the risk of "punitive measures" concerning sanctions on Russia, any Russian laws that "have as their object or effect the frustration of any laws specified [in any restrictive measures] including sanctions, export and import controls or other restrictive measures imposed by Russia"; or "any criminal law imposed by any jurisdiction."
The Moscow Arbitration Court in an Aug. 1 order froze shares of companies owned by Goldman Sachs Group, worth around $36 million, after Russian bank Otkritie filed a lawsuit against the U.S. banking giant, the Financial Times reported. State-owned Otkritie said Goldman refused to fulfill $6.4 million in debt obligations under derivatives deals between the two banks. Goldman said it was not able to settle the debt due to sanctions set against the Russian bank, FT reported.
The EU General Court in a pair of July 26 orders annulled the sanctions acts listing Viktor Pshonka, a former Ukrainian prosecutor general, and his son, Artem, a former Ukrainian lawmaker, according to an unofficial translation. The elder Pshonka was originally sanctioned in 2014 for embezzling Ukrainian public funds, according to the EU Sanctions blog. The blog noted that the court said the European Council failed to show that the Pshonkas' rights to judicial protection were respected by Ukrainian authorities during criminal proceedings on which the council relied.
The U.K. High Court of Justice Administrative Court recently dismissed an application from Russian businessman Sergei Naumenko and companies Dalston Projects and Prism Maritime, legal owners of the Phi superyacht, seeking to regain control of the vessel. The British secretary of state for transport in March 2022 seized the yacht under its Russia sanctions regime.
The EU General Court last week affirmed a European Commission decision that allowed German securities depository bank Clearstream Banking to comply with U.S. sanctions on Iran. The case stemmed from a commission decision in 2020 that authorized Clearstream to withhold payment of dividends to German firm IFIC Holding, whose shares are indirectly held by the Iranian government. IFIC had asked the General Court to annul the decision.
A new law announced by the U.K. June 29 could prevent lawyers from providing legal services to Russian companies in "certain business deals -- thwarting the nation from benefitting economically from" British legal services, the Ministry of Justice said. The rules are meant to build on existing restrictions imposed on Russia covering the provision of legal services by also extending these restrictions "to facilitate certain commercial activity which benefits the country." The legislation could also block "legal professionals" from advising international companies on lending decisions to Russian companies, the ministry said.