March 2017

"La lettre B" l'essentiel de l'actualité économique et financière européenne décryptée

“La lettre B” N° 3 – March 2017

Trade Retaliation


In July 2014, the Council adopted some restrictive measures in response to actions of Russia to destabilize the situation in Ukraine. Those measures imposed restrictions on certain financial transactions and on the export of certain sensitive goods and technologies. They also restricted the access of certain Russian entities to the capital market and prohibited the provision of services required for certain oil transactions. The Council wanted to increase the cost of the actions taken by Russia to undermine the sovereignty of Ukraine.

Rosneft, a Russian company targeted by the measures which works in the oil and gas sector, challenged the validity of the Council decision before the High Court of Justice of England & Wales, which decided to ask to the Court of Justice whether the acts of the Council and the UK implementation measures, were valid. On the British side, the UK court asked if the national Government was entitled, in the event of an infringement, to impose criminal penalties before a Court interpretation, adding a specific question on the processing of banks’ payments before the adoption of those measures. Read More→


EU Parliament


Since decisions taken by the EU affect millions of European citizens, they shall be taken as openly as possible. The EU institutions interact with a wide range of groups and organizations representing specific interests, as a legitimate and necessary part of the decision-making process to make sure that EU policies reflect citizens’ real needs.

The need for a transparent decision-making process implies a proper scrutiny and accountability.

The Transparency Register is one of the initiatives designed to make EU decision-making more open and all EU lobbyists looking to influence legislation, should be required to sign the transparency register before being allowed to enter the European Parliament. Read More→




Le Collège a réadopté une décision en matière d’entente contre 11 transporteurs de fret aérien et leur a infligé des amendes pour un montant total de 776 465 000 EUR pour avoir mis en oeuvre une entente sur les prix. La décision initiale de la Commission avait été annulée par le Tribunal en raison d’un vice de procédure.

La commissaire à la concurrence Margrethe Vestager, a souligné que : «Des millions d’entreprises sont tributaires des services de transport de fret aérien, qui acheminent plus de 20 % de l’ensemble des importations de l’UE et près de 30 % de ses exportations. Le fait de collaborer dans une entente plutôt que de se faire concurrence afin de proposer de meilleurs services aux clients ne cadre pas avec les principes de la Commission. La décision adoptée fait en sorte que les entreprises qui ont participé à une entente sur le fret aérien soient sanctionnées pour leur comportement. » Read More→




The European Ombudsman, Emily O’Reilly, has asked the European Commission to set out the arrangements that it plans to put in place to ensure transparency and to secure appropriate stakeholder input during the upcoming Brexit negotiations. These should cover the types of information and documents the Commission intends to publish – including the timeline for negotiations and reports on negotiating rounds – and when.

Wrting to Jean-Claude Juncker, Ms O’Reilly underlines that her staff have already had a constructive first meeting with members of the negotiation Task Force as well as the General Secretariat of the Council of the EU to discuss about public access to Council documents regarding negotiations with the UK.

In her letter, Ms O’Reilly recognizes and support the important role of the European Commission in protecting the interests of the Union and its citizens during the negotiations that will ensue and recalls that as the European Ombudsman was established in the Maastricht Treaty alongside the creation of EU citizenship, she wishes to do everything possible to assist in protecting EU citizens’ rights. According to Ombudsman, the Citizens of other EU Member States residing in the UK are likely to be particularly affected, as are UK citizens residing in other EU Member States. Read More→