Week of 3 to 9 August 2026
I. Sanctions and EU-Russia relations
International sanctions: the EU adopts its 21st sanctions package against Russia
The Council of the European Union formally adopted, on 23 July 2026, a new package of sanctions targeting the Russian Federation — the 21st since 2022. This package primarily targets the banking, energy and crypto-asset sectors. Three developments deserve the attention of economic operators:
- Cap on the price of Russian oil: the automatic adjustment mechanism is frozen for twelve months, with the cap remaining set at USD 44.10 per barrel, in order to prevent Moscow from benefiting from the rise in oil prices linked to tensions in the Middle East.
- Russian shadow fleet: around thirty additional vessels have been blacklisted, with an unprecedented extension of sanctions to supply vessels and certain logistics infrastructure.
- Transport of Russian LNG: from 1 January 2027, European companies will no longer be able to transport Russian LNG to third countries. However, a one-year exemption, automatically renewable, has been granted to Greece, a major player in LNG shipping, in exchange for its support for the text.
Practical impact for businesses: immediate review of compliance procedures (KYC/AML, counterparty screening) for operators exposed to the banking, energy and maritime sectors in connection with Russia.
II. US trade war: new tariffs and escalation
Extension of US customs tariffs (Sections 301 and 338)
Over the summer of 2026, the US administration continued to extend its tariff arsenal, relying both on Section 301 of the Trade Act of 1974 (unfair trade practices) and on Section 338 of the Tariff Act of 1930 — an old and, until now, rarely used provision that allows surcharges of up to 50% against countries deemed to discriminate against US trade. Several trading partners, particularly in Asia and Latin America, have seen their customs duties substantially increased, against a backdrop of a general escalation of unilateral tariff measures.
Practical impact for businesses: operators importing from or exporting to the United States must continuously reassess their tariff exposure and anticipate contractual clauses for allocating customs risk (hardship, price revision, incoterms).
EU suspends its retaliatory measures
Against this backdrop of tension, the European Union has chosen to suspend, at least temporarily, its own retaliatory tariff measures that would have targeted certain American products, favouring negotiation over direct confrontation. However, this suspension remains revocable and its continuation will depend on how transatlantic discussions develop.
European customs reform on small parcels
The European Commission has also made progress on its reform of the customs regime applicable to small parcels imported from third countries (particularly via Asian e-commerce platforms), with a view to removing the customs duty exemption for low-value shipments. This reform, driven by concerns over unfair competition from certain platforms, will have a direct impact on cross-border e-commerce operators.
IEEPA litigation before the Court of International Trade (CIT)
Litigation concerning the use of the International Emergency Economic Powers Act (IEEPA) as the legal basis for US customs tariffs continues before the Court of International Trade (CIT). The debates focus in particular on the issue of reliquidation of duties already collected in the event the measures are judicially invalidated — a highly sensitive financial question for the thousands of importers concerned. The outcome of this litigation will largely determine the legal durability of a significant part of recent US tariff policy.
Practical impact: businesses that have paid customs duties based on IEEPA should carefully document these payments, in anticipation of a possible refund should the ongoing appeals succeed.
III. EU digital and environmental regulation
AI Act: continued phased entry into application
The EU Artificial Intelligence Regulation (AI Act) continues its phased implementation timeline. Companies developing or deploying AI systems for the European market must continue their compliance efforts, particularly regarding transparency, risk management and governance obligations applicable to systems classified as high-risk.
PPWR Regulation on packaging and packaging waste
The European Packaging and Packaging Waste Regulation (PPWR) continues its implementation, with strengthened requirements on recyclability, reduction of over-packaging and reuse targets. Companies in the retail and food sectors, particularly those operating internationally, must anticipate adapting their packaging and logistics chains to the new European standards.
IV. Trade agreements and international exchanges
EU-Mercosur agreement: where do things stand?
The association agreement between the European Union and Mercosur (Argentina, Brazil, Paraguay, Uruguay) remains at the heart of international trade discussions. Its ratification, still politically pending in several Member States, continues to be closely watched by operators in the agricultural and industrial sectors, given the scale of trade flows involved between the two regions.
International trade figures and the WTO
Against a backdrop marked by a proliferation of unilateral tariff measures, the World Trade Organization (WTO) has reiterated the risks these tensions pose to global trade growth, calling on states to favour multilateral dispute-resolution frameworks over an escalation of unilateral measures.
V. Points of attention for operators
This week confirms an underlying trend: the growing fragmentation of international trade, marked by the proliferation of unilateral measures (US tariffs, European sanctions) and the slow ratification of major multilateral agreements (Mercosur). Businesses exposed internationally have every interest in precisely mapping their regulatory exposure (customs, sanctions, digital compliance) and factoring these risks into their contractual clauses.
For more details, contact us.