Energy Archives - Regulatory & International Trade

New US Sanctions Against Gazprombank and Several Russian Financial Institutions

by Sabine Naugès, Raminta Dereskeviciute and Michal Chajdukowski | Nov 25, 2024 | Sanctions & Export Control, Energy

The US Treasury’s Office of Foreign Assets Control (OFAC) has implemented sanctions on additional Russian financial institutions, notably Russia’s Gazprombank and several foreign subsidiaries. These blocking sanctions prohibit US persons and entities from transacting with Gazprombank or its listed subsidiaries, as well as any entity owned 50% or more by Gazprombank or any other sanctioned entity. OFAC additionally designated more than 50 smaller Russian banks, as well as more than 40 securities registrars, and a list of Russian nationals operating in the financial services sector.

Solar package I: Overview of the Main New Solar Regulation in Germany

by Dr. Maximilian Uibeleisen and Dr. Simon Groneberg | May 20, 2024 | Energy

The waiting has come to an end: after the German Federal Government adopted the first draft of the Solar Package I in August 2023 and a small selected part of Solar Package I already entered into force in December 2023, the German Parliament and the German Federal Council have now adopted the remaining (main) part of Solar Package I. The Solar Package I, which was significantly amended during the legislative process, contains a number of new regulations for solar energy in Germany, particularly in the Renewable Energy Sources Act (Erneuerbare-Energien-Gesetz – „EEG“) and in the Energy Industry Act (Energiewirtschaftsgesetz – „EnWG“). These new regulations are intended to facilitate and accelerate the expansion of solar energy in Germany and contain numerous changes for both ground-mounted and rooftop PV plants. Next to solar-related provisions, the Solar Package I also contains new regulations for the acceleration of grid connections as well as for the operation of electricity storage systems and introduces new or amended models for on-site electricity supply solutions.

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Strengthening Foreign Investment Screening in France

by Sabine Naugès | Mar 6, 2024 | Foreign Investment, Energy

Decree no. 2023-1293 of December 28, 2023, on foreign investment in France came into force on January 1, 2024.

The purpose of the decree is to continue the monitoring of non-European investors exceeding the threshold of 10% of voting rights in companies listed on a regulated market, introduced by Decree No. 2020- 892 of July 22, 2020. This follows the statements made by the French Ministry of the Economy (the “MoE“) to the press on January 5, 2023, announcing that the measure would be made permanent.