EU Insight, 22 April 2022

Brussels, 22 April 2022

EU CONTINUES TO SUPPORT UKRAINE WHILE PARLIAMENT CALLS FOR FURTHER SANCTIONS

The European Parliament’s Foreign Affairs Committee held an exchange of views on the impact of sanctions with representatives from other EU institutions and honorary guests from Ukraine, including the Mayor of Melitopol, Ivan Fedorov. The Committee concluded that current measures have worked well so far, yet more action is needed in the upcoming sixth package, including energy embargoes and full SWIFT ban. The Committee also welcomed the Council’s decision to support Ukraine in the investigation and prosecution of international crimes committed by Russia. Separately, the EU provided additional support of EUR 3.5 billion to countries hosting refugees and of EUR 1.5 billion under the European Peace Facility to Ukraine.

COUNCIL AGREES POSITION ON EUROPEAN GREEN BOND STANDARD

The Council agreed its position on the proposal on European Green Bond Standard (EUGB). The proposal lays down uniform requirements for issuers of bonds wishing to apply the label “European Green Bond” for their environmentally sustainable bonds, a registration system for such bonds, and a supervisory framework for external reviewers of European green bonds. One of the most sensitive issues of the proposal was the treatment of gas and nuclear activities, which are retained in the scope in the Council text. This issue is expected to be particularly controversial in the upcoming negotiations with the European Parliament.

INTRODUCTION OF COMMON CHARGER FOR PORTABLE DEVICES APPROACHES

The Parliament agreed on rules introducing a common charger for portable electronic devices such as mobile phones, tablets, and digital cameras, which would have to be equipped with a USB Type-C port. The European Parliament also found common ground on requiring new devices to provide information on charging options, as well as on asking the Commission to explore harmonisation solutions for wireless charging. The revised Radio Equipment Directive is part of a broader EU effort to address product sustainability and to reduce electronic waste. The text is expected to be approved during the May plenary session to then allow for negotiations with the Council to begin.

EU FISHERY AND AQUACULTURE SECTORS TO RECEIVE FINANCIAL COMPENSATION

The European Commission took a first set of actions to support EU fishery and aquaculture sectors following the package of crisis measures adopted under the European Maritime, Fisheries and Aquaculture Fund in late March. Against the backdrop of Russia’s invasion of Ukraine, the measures adopted by the European Commission aim to supply financial compensation for the temporary cessation of fishing activities, to producer organisations that store fishery or aquaculture products, to operators for their income forgone, and for additional costs incurred due to the market disruption. The proposal is now subject to negotiation and adoption by the Parliament and the Council.

EU TO GUARANTEE CONTINUED PROVISION OF MEDICINES TO NORTHERN IRELAND

EU member states adopted rules to ensure the uninterrupted long-term supply of medicinal products from the United Kingdom to Northern Ireland after Brexit. A new Directive and Regulation will also allow medicines from the UK to be placed on the market in Ireland, Malta and Cyprus, under exceptional derogations and for a transitional period of three years. With this legislation, the EU aims to address outstanding supply concerns in these three markets, which have been historically supplied through or by the UK. The rules will apply retroactively from 1 January 2021 and are part of the EU’s broader efforts to support the people of Northern Ireland facing difficulties resulting from Brexit.

COMING UP NEXT WEEK

• 27 April: College of Commissioners meeting. On the agenda: next Covid-19 phase, Legal migration, abusive litigation targeting journalists, revision of the financial regulation.

Karl Isaksson, Managing Partner Brussels, Kreab

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Kreab • Tel: +32 2 737 6900 • karl.isaksson@kreab.com • www.kreab.com/brussels • Twitter: @KreabEU