Archive for category Restrictions, Sanctions & Embargos

Iran – The Economic Sanctions Have Been Lifted

January 16th, 2016

Crippling economic sanctions on Iran have been lifted now that the International Atomic Energy Agency (IAEA) has certified that it has restricted its sensitive nuclear activities.

The Iran nuclear deal framework was a preliminary framework agreement reached in 2015 between the Islamic Republic of Iran and a group of world powers: the P5+1 (the permanent members of the United Nations Security Council–the United States, the United Kingdom, Russia, France, and China plus Germany), plus the European Union.

Read more here.

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Iran & 6 Major Powers Reach Nuclear Deal

Iran and six major powers agreed early Sunday on a historic deal that freezes key parts of Iran’s nuclear program in exchange for temporary relief on some economic sanctions.

Check here for more.

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More Trade News in Brief Week 51 (15 – 21 Dicember 2014)

* US and Cuba to Normalize Relations

The leaders of the United States and Cuba agreed to restore full diplomatic relations between the two countries.

Check here for more.

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* Russia to Launch Alternative to SWIFT Bank Transaction System

Russia plans to launch its own international inter-bank system by May 2015. The national payment system department of the Central Bank of Russia (CBR) will be in charge of the new project.

Find more here.

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 * The 2014 edition of the World Intellectual Property Indicators

WIPO’s World Intellectual Property Indicators 2014 provides a wide range of indicators covering the following areas of intellectual property: patents, utility models, trademarks, industrial designs, microorganisms and plant variety protection.

It draws on data from national and regional IP offices, WIPO and the World Bank.

Download the full report.

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* World Economic Situation and Prospects 2015 (WESP) Report

The UN World Economic Situation and Prospects 2015 (WESP) report, which was launched today, estimates growth in 2015 of 3.1 per cent and in 2016 of 3.3 per cent.

Read more about it here.

 

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News from OECD

 
* OECD – Economic Outlook
 
OECD published its last Economic Outlook: global economy strengthening but significant risks remain.
 
Check the OECD’s latest Economic Outlook.
 
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* OECD – Services Trade Restrictiveness Index
 
The OECD’s new Services Trade Restrictiveness Index (STRI) provides a unique and comprehensive snapshot of services trade restrictions across 18 sectors in 40 leading economies, representing over 80% of global services trade.
 
Read more about Services Trade Restrictiveness Index (STRI).
 

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Ukraine Crisis

 
* Rusia Annexes Crimea
 
Russia officially annexes Crimea away from Ukraine.
 
Read more here or search over the internet.
 
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* EU & US Sanctions After Ukraine Crisis
 
The US and the European Union have retaliated over the Crimea referendum by targeting sanctions against Russians and Ukrainians’ officials.
 
Check here for more or search over the internet.
 
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* EU Strength Ties with Ukraine
 
The European Union and Ukraine signed the core elements of a political association agreement.
 
Follow the link for more or search over the internet.
 
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* NATO Exercises in Ukraine
 
Ukraine will hold joint military exercises with U.S. and Britain. In addition to US and UK troops, Rapid Trident 2014 will include units from Armenia, Azerbaijan, Bulgaria, Canada, Georgia, Germany, Moldova, Poland, Romania and Ukraine.

Rapid Trident military exercises have been held annually on the territory of Ukraine for a number of years. Ukraine has a partner relationship with NATO but is not officially a member.

 
Read more here or search over the internet.
 
 
 

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More Trade News in Brief Week 44 (28 October – 3 November 2013)

 
* EU Extend Sanctions to Belarus
 
The European Union has extended its sanctions against Belarus by another 12 months.
 
Check here for more.

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* Global Investment Trends Monitor
 
UNCTAD published the Global Investment Trends Monitor.
 
Check for findings and details here.
 

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Iran Hopes to Join BRICS Group

 
Iran is looking to joint BRICS and contribute to its reserve fund.
 
Iran is searching an alternative to subvert US-imposed sanctions.
 
Check here for more.
 

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News from the European Union

 
* EU & Georgia Sign DCFTA
 
The European Union and Georgia concluded negotiations for a Deep and Comprehensive Free Trade Area (DCFTA).
 
Check here and here for more.
 
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* EU Re-opens Its Market to Myanmar/Burma
 
The trade preferences for Myanmar/Burma will be applied retroactively as of 13 June 2012.
 
Check here for details.
 
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* European Social Statistics
 
Eurostat, the statistical office of the European Union, published the 1st edition of the European Social Statistics.
 
You can find it here.
 

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More Trade News in Brief Week 25 (17 – 23 June 2013)

 
* ICC Open Markets Index 2013
 
The ICC Open Markets Index is a biennial report which ranks the economies of the 75 based on four factors: observed trade openness, trade policy, openness to foreign direct investment and trade-enabling infrastructure.
 
The main conclusions of the ICC Open Markets Index 2013 are:
 
– G8/G20 countries failing to demonstrate global leadership on trade
– Canada the only G20 country in top 20 for openness to trade
– BRICS countries lagging due to restrictive trade policies
 
Check here for more.
 
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* China and Taiwan Sign Service Trade Agreement (STA)
 
According to the agreement signed between Chinese mainland and Taiwan, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.
 
Check here for more.
 
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* International Standard Banking Practice (ISBP) 2013
 
The revised 2013 guide published by ICC details banking practices to be applied when dealing with documentary credits that are subject to Uniform Customs and Practice for Documentary Credits (UCP 600).
 
Kindly follow the link for more.
 

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More Trade News in Brief – Week 10 (4 – 10 March 2013)

 
* ICC – New Model International Sale Contract
 
4 March 2013, Paris
 
The International Chamber of Commerce (ICC) has released the updated Model International Sale Contract including an interactive digital version.
 
The new model permits companies and lawyers to define their own reliable import-export agreements that are in line with Incoterms® 2010 and the latest developments in international trade.
 
Visit the ICC Commercial Law and Practice Commission.
 
Check here for more.
 
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 * US Foreign Trade Policy
 
The Office of the United States Trade Representative (USTR) released the ”2013 Trade Policy Agenda and 2012 Annual Report”.
 
Please find the 2013 Agenda and 2012 Report here.
 
Also, USTR published its 2013-2016 Strategic Plan.
 
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* New Zealand and Chile Signed FTA
 
New Zealand and Chile signed a free trade agreement (FTA).
 
Check here.
 
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* UN Strength Sanctions on North Korea
 
7 March 2013
 
The United Nations Security Council tightened sanctions on the Democratic People’s Republic of Korea (DPRK)’s trade and banking.
 
Check the Press Release.
 

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