Approval for the Foreign Trade Ordinance
On November 13, 2024 at 6:30 PM, the Bundestag approved the Foreign Trade and Payments Ordinance (AWV) with a large majority. The ordinance is intended to implement the EU sanctions against Russia and Belarus into German law.
The AWV regulates the import and export of goods and services to and from Russia and Belarus. It also prohibits the provision of certain services to these countries, such as financial services, insurance and consulting.
The ordinance is part of a package of measures that the EU has taken in response to Russia’s annexation of Crimea and its support for separatists in eastern Ukraine. The EU has also imposed sanctions on individuals and companies in Russia and Belarus.
The AWV has been criticized by some businesses, which argue that it will harm their operations. However, the government has defended the ordinance, saying that it is necessary to protect Germany’s security and economic interests.
The AWV will come into effect on December 1, 2024. It will be reviewed regularly and may be amended or repealed if necessary.
Impact on Businesses
The AWV will have a significant impact on businesses that trade with Russia and Belarus. Businesses should review the ordinance carefully to ensure that they are in compliance.
The AWV prohibits the import and export of certain goods and services to and from Russia and Belarus. These include:
- Weapons and military equipment
- Dual-use goods (goods that can be used for both civilian and military purposes)
- Oil and gas
- Coal
- Steel
- Fertilizers
- Certain chemicals
- Certain financial services
- Insurance
- Consulting
Businesses that provide these goods and services to Russia and Belarus will need to find alternative markets or stop trading with these countries.
The AWV also prohibits the provision of certain services to Russia and Belarus. These include:
- Financial services
- Insurance
- Consulting
- Technical assistance
- Training
Businesses that provide these services to Russia and Belarus will need to stop providing these services to these countries.
Exceptions
There are some exceptions to the AWV. For example, the import and export of humanitarian goods is permitted. Businesses that are engaged in humanitarian activities should contact the German government for guidance.
Penalties
Businesses that violate the AWV may be subject to fines or imprisonment. The German government has the authority to seize goods that are being imported or exported in violation of the ordinance.
Conclusion
The AWV is a significant piece of legislation that will have a major impact on businesses that trade with Russia and Belarus. Businesses should review the ordinance carefully to ensure that they are in compliance.
Zustimmung für die Außenwirtschaftsverordnung
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