The tax environment of the United Arab Emirates (UAE) is continuously evolving. Over the past six years, we have seen the implementation of Excise Tax laws, Value Added Tax (VAT) laws and the recent introduction of Corporate Income Tax (CIT) laws, with effect in 2023. As such, companies operating in the UAE are, and have been confronted with a multitude of changes and challenges. This article argues that despite the implementation of indirect taxes, and the recent introduction of direct taxes consuming the attention of company operations, the significance of the primitive form of indirect tax in the UAE i.e., Customs, cannot be undermined. On the contrary, the article submits that Customs laws become more so important for companies in the UAE. In this context, this article posits that the customs value is considered as the basis for the assessment of customs duty, and VAT, and serves in certain cases as the value for the determination of the excise tax base (indirect taxes). The Customs laws play an important role for the import and liability of dutiable and excisable goods in the UAE, and can even have a last minute say in whether the importer’s transfer price is at arm’s length for customs duty purposes. Also, the recent progressive steps taken by the UAE government in the form of ratifying Free Trade Agreements (FTAs) each with India and Indonesia, and with likely more to come, underscores the importance of Customs visà- vis global trade in the UAE market. This article also addresses the practical challenges faced by the businesses in the UAE pertaining to Customs/global trade issues and proposes some suggestions to mitigate these issues. Tax, Customs, United Arab Emirates, Challenges, Indirect tax, UAE businesses
{"title":"The Rapid Changing Tax Environment in the United Arab Emirates: The Position of Customs in This Evolution","authors":"Atia Hussain, Zain Satardien, W. ElKelish","doi":"10.54648/gtcj2022066","DOIUrl":"https://doi.org/10.54648/gtcj2022066","url":null,"abstract":"The tax environment of the United Arab Emirates (UAE) is continuously evolving. Over the past six years, we have seen the implementation of Excise Tax laws, Value Added Tax (VAT) laws and the recent introduction of Corporate Income Tax (CIT) laws, with effect in 2023. As such, companies operating in the UAE are, and have been confronted with a multitude of changes and challenges. This article argues that despite the implementation of indirect taxes, and the recent introduction of direct taxes consuming the attention of company operations, the significance of the primitive form of indirect tax in the UAE i.e., Customs, cannot be undermined. On the contrary, the article submits that Customs laws become more so important for companies in the UAE. In this context, this article posits that the customs value is considered as the basis for the assessment of customs duty, and VAT, and serves in certain cases as the value for the determination of the excise tax base (indirect taxes). The Customs laws play an important role for the import and liability of dutiable and excisable goods in the UAE, and can even have a last minute say in whether the importer’s transfer price is at arm’s length for customs duty purposes. Also, the recent progressive steps taken by the UAE government in the form of ratifying Free Trade Agreements (FTAs) each with India and Indonesia, and with likely more to come, underscores the importance of Customs visà- vis global trade in the UAE market. This article also addresses the practical challenges faced by the businesses in the UAE pertaining to Customs/global trade issues and proposes some suggestions to mitigate these issues.\u0000Tax, Customs, United Arab Emirates, Challenges, Indirect tax, UAE businesses","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49161960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
States’ perceived sovereign interests are often not aligned with international legal standards, especially in relation to national security. The Article XXI security exception qualifies the collective interests of the international community which the non-discrimination requirements of the General Agreement on Tariffs and Trade (GATT) regime aspires for. While its justiciability and self-judging nature have long been discussed and debated upon, the provision must be understood in light of the ever-evolving conceptions of security itself, including challenges posed by climate change, public health emergencies and cyber warfare. Despite being noticed at the drafting stage, Article XXI does not contain a mechanism akin to the chapeau of Article XX against which the need for states to act against such non-conventional threats may be balanced with free trade interests. In view of the underlying subjectivity arising from both, judicial discretion and states’ conceptions, this article so contextualizes the security exception, including by tracing its historical underpinnings. It considers the application of the good faith requirement and significantly, examines whether security interests can objectively be determined. National security, WTO, treaty interpretation, Article XXI, non-discrimination, trade law, GATT
{"title":"A Contemporary Contextualization of Security Under Article XXI of the GATT","authors":"Anhad S. Miglani","doi":"10.54648/gtcj2022068","DOIUrl":"https://doi.org/10.54648/gtcj2022068","url":null,"abstract":"States’ perceived sovereign interests are often not aligned with international legal standards, especially in relation to national security. The Article XXI security exception qualifies the collective interests of the international community which the non-discrimination requirements of the General Agreement on Tariffs and Trade (GATT) regime aspires for. While its justiciability and self-judging nature have long been discussed and debated upon, the provision must be understood in light of the ever-evolving conceptions of security itself, including challenges posed by climate change, public health emergencies and cyber warfare. Despite being noticed at the drafting stage, Article XXI does not contain a mechanism akin to the chapeau of Article XX against which the need for states to act against such non-conventional threats may be balanced with free trade interests. In view of the underlying subjectivity arising from both, judicial discretion and states’ conceptions, this article so contextualizes the security exception, including by tracing its historical underpinnings. It considers the application of the good faith requirement and significantly, examines whether security interests can objectively be determined.\u0000National security, WTO, treaty interpretation, Article XXI, non-discrimination, trade law, GATT","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45932185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article introduces recent developments in trade remedies in Japan, in particular about the enforcement of anti-dumping duty (AD) and countervailing duty (CVD) measures. It also highlights challenges and opportunities for these measures in the world by introducing recent discussions among some investigating authorities in an international seminar. The article concludes with future directions for discussions in this field, including the importance of cooperation among investigating authorities. WTO, Trade Remedies, Countervailing Duties, CVD, Subsidies, Antidumping, AD, International Cooperation, Japan, METI, OECD
{"title":"Challenges and Opportunities for Antidumping and Countervailing Duty Measures in Japan and the World","authors":"Jun Kazeki, Yuko Miwata","doi":"10.54648/gtcj2022065","DOIUrl":"https://doi.org/10.54648/gtcj2022065","url":null,"abstract":"This article introduces recent developments in trade remedies in Japan, in particular about the enforcement of anti-dumping duty (AD) and countervailing duty (CVD) measures. It also highlights challenges and opportunities for these measures in the world by introducing recent discussions among some investigating authorities in an international seminar. The article concludes with future directions for discussions in this field, including the importance of cooperation among investigating authorities.\u0000WTO, Trade Remedies, Countervailing Duties, CVD, Subsidies, Antidumping, AD, International Cooperation, Japan, METI, OECD","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47635537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the introduction of the Self-Reliant India initiative, the Government of India (GOI) has underlined the importance of trade policy instruments to augment the capabilities of the domestic manufacturing sector. It has used both tariffs and non-tariff measures (NTMs) but NTMs have emerged as an important instrument of India’s trade strategy under the Self-Reliant India initiative. This article analyses selected NTMs i.e., import monitoring mechanism, quality standards (QSs), and changes in Rules of Origin (RoO) to understand the broader orientation of India’s trade policy. Findings demonstrate that the introduction of these NTMs are aimed at fostering a strong ecosystem for NTMs to restrict imports thereby extending protection to the domestic industry from international competition. It also reflects that India’s broad trade policy orientation is gradually moving towards a protectionist regime under the ‘self-reliant’ agenda. Trade policy, Non-Tariff measures, Non-Tariff Barriers, Import monitoring system, Quality standards, Rules of origin, Self-Reliant, etc.
{"title":"Reliance on Non-tariff Measures for Self-Reliant India: An Analysis of India’s New Trade Policy Orientation","authors":"Surendar Singh, Utkarsh K. Mishra","doi":"10.54648/gtcj2022063","DOIUrl":"https://doi.org/10.54648/gtcj2022063","url":null,"abstract":"With the introduction of the Self-Reliant India initiative, the Government of India (GOI) has underlined the importance of trade policy instruments to augment the capabilities of the domestic manufacturing sector. It has used both tariffs and non-tariff measures (NTMs) but NTMs have emerged as an important instrument of India’s trade strategy under the Self-Reliant India initiative. This article analyses selected NTMs i.e., import monitoring mechanism, quality standards (QSs), and changes in Rules of Origin (RoO) to understand the broader orientation of India’s trade policy. Findings demonstrate that the introduction of these NTMs are aimed at fostering a strong ecosystem for NTMs to restrict imports thereby extending protection to the domestic industry from international competition. It also reflects that India’s broad trade policy orientation is gradually moving towards a protectionist regime under the ‘self-reliant’ agenda.\u0000Trade policy, Non-Tariff measures, Non-Tariff Barriers, Import monitoring system, Quality standards, Rules of origin, Self-Reliant, etc.","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49428483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The World Trade Organization’s Appellate Body (AB) continues to face an existential and operational crisis. Since 2017, the United States has blocked the selection of replacements for retiring AB members. As a result, the Appellate Body no longer has any active members and, therefore, cannot function. In March 2020, a group of 16 WTO members, including the European Union, promoted an initiative to establish a ‘multi-party interim appeal arrangement’ (MPIA), as an alternative to AB proceedings pending a resolution of the AB impasse. The arrangement is intended to allow disputes to be resolved finally by an impartial adjudicating body and to preserve a two-tier WTO dispute settlement system, until the Appellate Body resumes its functions. This Article provides a review of the structure and provisions of the MPIA and an update on how it has worked in practice. To date, no WTO dispute has gone through the MPIA process. However, in two recent disputes, Türkiye, which is not an MPIA party, and the European Union entered into agreements on appeals using a process very similar to the MPIA. One of those disputes has proceeded to the appeal stage under this arrangement. This note also provides the review of the differences between the MPIA and the Türkiye-EU mechanism. The World Trade Organization's disputes, the Dispute Settlement Body, Appellate Body Members, Multi-party interim appeal arrangement, MPIA, structure, appeal arbitration procedure, arbitrators, MPIA arbitrator, outgoing disputes, the first case to use appeal, Article 25 Arbitration, Türkiye-EU appeal arbitration agreement, WTO reform, MC12 outcome.
{"title":"The Multi-party Interim Appeal Arbitration Arrangement: An Update","authors":"Andrea Maria Gonzalez, Aldina Sakhi","doi":"10.54648/gtcj2022062","DOIUrl":"https://doi.org/10.54648/gtcj2022062","url":null,"abstract":"The World Trade Organization’s Appellate Body (AB) continues to face an existential and operational crisis. Since 2017, the United States has blocked the selection of replacements for retiring AB members. As a result, the Appellate Body no longer has any active members and, therefore, cannot function.\u0000In March 2020, a group of 16 WTO members, including the European Union, promoted an initiative to establish a ‘multi-party interim appeal arrangement’ (MPIA), as an alternative to AB proceedings pending a resolution of the AB impasse. The arrangement is intended to allow disputes to be resolved finally by an impartial adjudicating body and to preserve a two-tier WTO dispute settlement system, until the Appellate Body resumes its functions. This Article provides a review of the structure and provisions of the MPIA and an update on how it has worked in practice. To date, no WTO dispute has gone through the MPIA process. However, in two recent disputes, Türkiye, which is not an MPIA party, and the European Union entered into agreements on appeals using a process very similar to the MPIA. One of those disputes has proceeded to the appeal stage under this arrangement. This note also provides the review of the differences between the MPIA and the Türkiye-EU mechanism.\u0000The World Trade Organization's disputes, the Dispute Settlement Body, Appellate Body Members, Multi-party interim appeal arrangement, MPIA, structure, appeal arbitration procedure, arbitrators, MPIA arbitrator, outgoing disputes, the first case to use appeal, Article 25 Arbitration, Türkiye-EU appeal arbitration agreement, WTO reform, MC12 outcome.","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44901954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A major factor cited for the prevalence of overfishing has been the lack of stringent national and international regulations on subsidies in the fisheries sector. Heavily subsidized large-scale fishing operators are largely responsible for overfishing and overcapacity, while the small-scale fisheriy sectors of developing and least developed countries (LDCs) are disadvantaged as a result of the trade distortive effects of subsidized fishing. For several years, efforts have been made at the World Trade Organisation (WTO) to negotiate disciplines to address the trade and environmental impacts of such subsidized fishing. At the WTO’s recent 12th Ministerial Conference (MC12), WTO Members adopted the first Agreement on Fisheries Subsidies to address this issue. Fisheries Subsidies Agreement, Overfishing, Subsidies, Environmental Protection, Sustainable Development, Negotiations, Regulatory actions
{"title":"The WTO’s Fisheries Subsidies Agreement: What’s New and What’s Next?","authors":"Kadijatu Zainab Bangura, Abraham Zaqi Kromah","doi":"10.54648/gtcj2022061","DOIUrl":"https://doi.org/10.54648/gtcj2022061","url":null,"abstract":"A major factor cited for the prevalence of overfishing has been the lack of stringent national and international regulations on subsidies in the fisheries sector. Heavily subsidized large-scale fishing operators are largely responsible for overfishing and overcapacity, while the small-scale fisheriy sectors of developing and least developed countries (LDCs) are disadvantaged as a result of the trade distortive effects of subsidized fishing. For several years, efforts have been made at the World Trade Organisation (WTO) to negotiate disciplines to address the trade and environmental impacts of such subsidized fishing. At the WTO’s recent 12th Ministerial Conference (MC12), WTO Members adopted the first Agreement on Fisheries Subsidies to address this issue.\u0000Fisheries Subsidies Agreement, Overfishing, Subsidies, Environmental Protection, Sustainable Development, Negotiations, Regulatory actions","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47133422","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The judgment of the Court of Justice of the European Union in the Fawkes Kft. case caused a clash between the EU customs valuation system and the international obligations of the EU under World Trade Organization (WTO) law. By allowing the systemic disregard by the customs authorities of the sequential customs valuation methods set forth both by EU law and by the WTO Customs Valuation Agreement in favour of the use of national databases of the customs authorities, this judgment also jeopardizes the uniformity in the application of customs law in the European Union. One wonders here what the judicia policy, if any, by the Court of Justice of the European Union behind such judgment is. Maybe it is time that all customs law cases are assigned to the same Chamber of the Court so to de facto establish a specialized chamber dealing with customs law matters. At the end of the day, the Customs Union is the main pillar of the whole EU foundation and would deserve an appropriate treatment also by the EU top judicial body.
{"title":"Customs Valuation in the European Union: Back to the Fifties Thanks to the Court of Justice of the European Union","authors":"D. Rovetta","doi":"10.54648/gtcj2022059","DOIUrl":"https://doi.org/10.54648/gtcj2022059","url":null,"abstract":"The judgment of the Court of Justice of the European Union in the Fawkes Kft. case caused a clash between the EU customs valuation system and the international obligations of the EU under World Trade Organization (WTO) law. By allowing the systemic disregard by the customs authorities of the sequential customs valuation methods set forth both by EU law and by the WTO Customs Valuation Agreement in favour of the use of national databases of the customs authorities, this judgment also jeopardizes the uniformity in the application of customs law in the European Union. One wonders here what the judicia policy, if any, by the Court of Justice of the European Union behind such judgment is. Maybe it is time that all customs law cases are assigned to the same Chamber of the Court so to de facto establish a specialized chamber dealing with customs law matters. At the end of the day, the Customs Union is the main pillar of the whole EU foundation and would deserve an appropriate treatment also by the EU top judicial body.","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49091555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Times of emergency in international relations are, indeed, a true test, not just for individuals but also for legal frameworks, including the one of the World Trade Organisation (WTO). This article aims to assess the ability of the WTO legal framework to address challenges that have arisen due to the Russia’s invasion of Ukraine. This is done through a two-pronged approach covering: (1) a general assessment of provisions of the relevant WTO Agreements and their role for addressing the current conflict in Ukraine; (2) an assessment of potential limitations to the system that may preclude effective response to the conflict. The article demonstrates that despite the fact that WTO Agreements do not provide for specific set of rights and obligations to regulate trade in times of war, they contain various mechanisms that help to ‘keep finger on the pulse’ to maintain order on the international trade arena. This is done, inter alia, via the various exemptions and exceptions WTO Members may resort to in times of extraordinary events. It further argues that despite its potential limitations, WTO law provides for a whole range of instruments to dissuade or ward off actions like the unpreceded invasion of Ukraine. WTO, war or other emergency in international relations, Russia’s invasion of Ukraine, GATT 1994, GATS, MFN, customs duties, quantitative restrictions, trade facilitation, expulsion
{"title":"Russia’s Invasion of Ukraine: A WTO Perspective","authors":"Yuliia Kucheriava","doi":"10.54648/gtcj2022060","DOIUrl":"https://doi.org/10.54648/gtcj2022060","url":null,"abstract":"Times of emergency in international relations are, indeed, a true test, not just for individuals but also for legal frameworks, including the one of the World Trade Organisation (WTO). This article aims to assess the ability of the WTO legal framework to address challenges that have arisen due to the Russia’s invasion of Ukraine. This is done through a two-pronged approach covering: (1) a general assessment of provisions of the relevant WTO Agreements and their role for addressing the current conflict in Ukraine; (2) an assessment of potential limitations to the system that may preclude effective response to the conflict. The article demonstrates that despite the fact that WTO Agreements do not provide for specific set of rights and obligations to regulate trade in times of war, they contain various mechanisms that help to ‘keep finger on the pulse’ to maintain order on the international trade arena. This is done, inter alia, via the various exemptions and exceptions WTO Members may resort to in times of extraordinary events. It further argues that despite its potential limitations, WTO law provides for a whole range of instruments to dissuade or ward off actions like the unpreceded invasion of Ukraine.\u0000WTO, war or other emergency in international relations, Russia’s invasion of Ukraine, GATT 1994, GATS, MFN, customs duties, quantitative restrictions, trade facilitation, expulsion","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44954421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article studies the availability, legality and risks associated with utilizing blockchain technology to support the EU’s special purpose vehicle, the Instrument in Support of Trade Exchanges (INSTEX), to enable humanitarian trade with Iran within the Joint Comprehensive Plan of Action (JCPOA). Such findings can further be applicable to other special purpose vehicles outside of INSTEX, which would help the EU to maintain foreign policy independence when third country unilateral sanctions apply. It does this by examining why INSTEX stalled and how blockchain could solve such problems. This requires an examination of the reach of US sanctions on Iran. Sanctions regimes commonly exempt financial transactions for humanitarian purposes, but it can be extremely difficult to conduct such legitimate transactions in times of sanctions. This risks human catastrophe of the most vulnerable and can undermine global pandemic relief programmes. Rather than undermine sanctions, the purpose herein is to facilitate humanitarian trade with the maximum level of control and oversight by exploring Blockchain options and legality. blockchain, special purpose vehicles, SPVs, humanitarian payments, single-purpose digital currency, sanctions, fintech, digital currencies, Sanctions Compliance
{"title":"Legality of Using Blockchain to Support INSTEX and Other Special Purpose Vehicles to Enable Humanitarian Trade with Sanctioned States","authors":"J. Truby","doi":"10.54648/gtcj2022055","DOIUrl":"https://doi.org/10.54648/gtcj2022055","url":null,"abstract":"This article studies the availability, legality and risks associated with utilizing blockchain technology to support the EU’s special purpose vehicle, the Instrument in Support of Trade Exchanges (INSTEX), to enable humanitarian trade with Iran within the Joint Comprehensive Plan of Action (JCPOA). Such findings can further be applicable to other special purpose vehicles outside of INSTEX, which would help the EU to maintain foreign policy independence when third country unilateral sanctions apply. It does this by examining why INSTEX stalled and how blockchain could solve such problems. This requires an examination of the reach of US sanctions on Iran. Sanctions regimes commonly exempt financial transactions for humanitarian purposes, but it can be extremely difficult to conduct such legitimate transactions in times of sanctions. This risks human catastrophe of the most vulnerable and can undermine global pandemic relief programmes. Rather than undermine sanctions, the purpose herein is to facilitate humanitarian trade with the maximum level of control and oversight by exploring Blockchain options and legality.\u0000blockchain, special purpose vehicles, SPVs, humanitarian payments, single-purpose digital currency, sanctions, fintech, digital currencies, Sanctions Compliance","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49375518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Trade-restricting unilateral sanctions could face resistance from the targeted states and other states and regional organizations whose trade or nontrade interests are affected by the sanctions. This is particularly true in response to sanctions by the United States, which imposes secondary sanctions affecting actors from a broad range of third states. States resist such sanctions through judicial and non-judicial methods. This article looks at three non-judicial methods states increasingly take in response to sanctions – special purpose vehicles, blocking statutes, and countermeasures – and provides an analysis of the international law issues pertaining to each method. Based on this analysis, the article offers a comparative assessment of the potential usefulness and legal limitations of these methods in resisting undesirable foreign sanctions. US sanctions, international law, special purpose vehicles, blocking statutes, countemeasures
{"title":"Resisting (US) Sanctions: A Comparison of Special Purpose Vehicles, Blocking Statutes and Countermeasures","authors":"Nathanael Tilhahun","doi":"10.54648/gtcj2022053","DOIUrl":"https://doi.org/10.54648/gtcj2022053","url":null,"abstract":"Trade-restricting unilateral sanctions could face resistance from the targeted states and other states and regional organizations whose trade or nontrade interests are affected by the sanctions. This is particularly true in response to sanctions by the United States, which imposes secondary sanctions affecting actors from a broad range of third states. States resist such sanctions through judicial and non-judicial methods. This article looks at three non-judicial methods states increasingly take in response to sanctions – special purpose vehicles, blocking statutes, and countermeasures – and provides an analysis of the international law issues pertaining to each method. Based on this analysis, the article offers a comparative assessment of the potential usefulness and legal limitations of these methods in resisting undesirable foreign sanctions.\u0000US sanctions, international law, special purpose vehicles, blocking statutes, countemeasures","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43470405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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