Vinge Dude Diligence – for improved gender equality

Sanctions update – oil price cap

On 4 February 2023, members of the Price Cap Coalition (G7 plus EU and Australia) reached consensus on price caps for seaborne Russian-origin petroleum products falling under CN code 2710.

Foreign direct investments – what applies in conjunction with security-sensitive activities?

Sweden is one of only a few EU countries which currently does not have a general regulation governing foreign direct investments. However, a legislative proposal is expected this spring. Vinge provides an overview of the current Swedish legal position in the Sweden chapter relating to Foreign Direct Investments (FDI) in the International Comparative Legal Guide.

Sanctions update December (part 2)

Further to our previous sanctions newsletters we herewith inform about recent sanctions developments, following the Council’s adoption of the ninth sanction package on 16 December 2022, and an agreement as to a price cap on Russian gas.

COP27 – one step closer to climate justice

COP27 was concluded on 18 November 2022 after two weeks of negotiations in Sharm El Sheikh in Egypt with the presence of leaders and representatives from 190 countries. The 1.5 °C target was a priority item on the agenda ahead of COP27, along with the efforts to support developing countries, which are particularly vulnerable to the effects of climate change. Amongst the EU’s top priorities ahead of the conference were to accelerate the phase out of coal, as well as to abolish inefficient fossil fuel subsidies.

Sanctions update December 2022

Further to our previous sanctions newsletters we herewith inform about recent sanctions developments as follows.

The EU Digital Service Act has entered into force

The EU Digital Service Act (DSA), Regulation 2022/2065, entered into force on 16 November. It sets out rules for online intermediary services in the single market to ensure a safe, predictable and trustworthy online environment. The regulation also aims to counter the spread of illegal content online and the risks to society caused by the spread of disinformation. The goal is to facilitate expansion for smaller platforms, micro and small businesses and start-ups.

Renewable energy – The Council agrees on a temporary emergency regulation

In the beginning of November, the European Commission put forward a proposal regarding a framework to accelerate the deployment of renewable energy, with the ambition to speed up the transition to green energy and reduce the EU’s dependency on Russian fossil fuels. In line with the conclusions of the European Council at the end of October, the European Commission considers that the ongoing energy crisis requires immediate action to transpose parts of the REPowerEU plan, and therefore proposes to adopt a Council Regulation using Article 122(1) of the Treaty of the Functioning of the European Union (TFEU) as legal basis.

REPowerEU – The European Parliament and the Council have assumed their standpoints

In May 2022, the Commission presented its proposal regarding REPowerEU. The purpose of the plan, which is based on the "Fit for 55" parcel , is to change Europe’s energy system by eliminating the EU’s dependency on Russian fossil fuels as well as to tackle the climate crisis. The European Parliament and the Council have now adopted their positions in order to incorporate the plan into the national recovery and resilience plans.

Vinge authors the Swedish contribution regarding tax disputes for The Legal 500

International companies run the risk of the erroneous management of tax issues when conducting operations in several jurisdictions. In such event, disputes can arise with the relevant tax authorities. The Legal 500 has now introduced a dedicated chapter on tax disputes in its comparative guide for the first time and Ulrika Bengtsson, advokat and counsel, has been selected to provide a clear picture of the Swedish tax litigation system.

The wide reach of the prohibition against circumventing EU sanctions

Against the background of Russia’s invasion of Ukraine, the EU has imposed a number of sanctions, which include a prohibition for companies within the EU to take certain measures in relation to Russia, as well as designated Russian people and entities on the sanction lists. Furthermore, a prohibition to circumvent the sanctions has been introduced in order to ensure that the sanctions are effective also in practice. When it comes to this circumvention prohibition, it is important to be aware of its wide interpretation, as established by the Court of Justice of the European Union and the European Commission.

Sanctions update 14 October

Further to our previous sanctions updates of 25 February, 3 March, 11 March, 16 March , 14 April and June 8 and 22 July, we herewith provide a further update of recent sanctions developments following Russia’s war against Ukraine:

Temporary EU measures addressing rising energy prices

The EU has adopted a new Regulation setting out various temporary measures to lower prices on the energy market. The aim of the temporary measures is to reduce Russia’s impact on the European energy market. The Regulation provides, among other things, that the Member States are obliged to reduce the electricity consumption by at least 5 % during certain peak hours and that the crude oil, natural gas, coal, and refinery sectors are required to pay a solidarity contribution.

The European Commission proposes a Cyber Resilience Act

On 15 September 2022, the European Commission published a proposal for a new regulation on cyber security (Cyber Resilience Act) (COM (2022) 454 final) that will protect consumers and businesses from products with inadequate safety features.

Vinge has contributed to the Swedish chapter in the International Comparative Legal Guide - Sanctions 2023

Vinge’s sanctions and compliance specialists Anders Leissner and Tove Tullberg have written the Swedish chapter on sanctions in the International Comparative Legal Guide. The chapter provides an overview of the Swedish sanctions regime and includes information on inter alia Swedish sanctions authorities, Swedish implementation of sanctions laws and regulations as well as enforcement.

Proposed EU regulation prohibiting forced labour

On 14 September 2022, the European Commission proposed a EU new regulation which bans products made with forced labour (COM (2022) 453).