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Vifo Act: proposed expansion of the scope

On 1 June 2023, the Investments, Mergers and Acquisitions (Security Screening) Act (in Dutch: Wet Veiligheidstoets Investeringen, Fusies en Overnames, hereinafter: Vifo Act) entered into force. This Act provides a framework for assessing investments, mergers and acquisitions that may pose a potential risk to national security. The scope of the Vifo Act extends to two categories of undertakings: critical providers and undertakings that possess so-called sensitive technologies.

The importance of an End-user statement (EUS)

An end-user statement (hereinafter: EUS) is an important document used to specify both the end user and the intended use of dual-use goods. It serves as a declaration from the buyer or recipient, confirming that the goods will be used solely for the stated purposes and not for prohibited applications.

New sanctions: 'No re-export to russia' clause manatory for certain goods

Considering the recent election results in Russia, the sanctions legislation, which restricts trading with Russia, seems unlikely to go away any time soon. However, there are parties that demonstrably benefit from the sanction legislation. These parties are often stationed in so-called 'fallback' countries. These fallback countries are generally countries close to Russia, used to evade the sanctions.

The responsibility of the logistics service provider's under sanctions legislation

With the extensive sanctions on Russia (and consequently increased attention to them), it is becoming increasingly clear that 'awareness' of sanctions legislation is necessary. Apart from the fact that companies want to be 'compliant', it is also necessary for the continuity of the company. When sanction matters arise, a company can quickly find itself in the negative spotlight, with all the consequences that entails. Sometimes this attention is unjustified, which is evident from the case below.

Sanctions on Russia, allways pay attention!

Due to the annexation of Crimea and the current war in Ukraine, the sanctions against Russia have become more extensive in recent years (the first sanctions date back to 2014), especially in the past year. It has become increasingly difficult to do business with Russian companies. Orders are withdrawn or cannot be executed, but what if the order has already been executed and a payment will be received? Is that still allowed? Or is the payment prohibited, even though the order itself is not (or was not) sanctioned at the time of its execution?

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