Subsea UK urges the subsea industry to take stock of new export and trade controls. While the supply chain is desperate to return to normal and capitalise on orders following the disruptions caused by COVID-19, there's a need for companies to exercise caution when processing transactions involving controlled items, particularly in light of new export and trade rules in place following Brexit. Since the United Kingdom left the European Union on 31 December 2020, licensing requirements for the export of certain items to the EU have changed. If you are based in Great Britain, a licence is now required to export all dual use-controlled items, including certain underwater equipment, which in turn impacts subsea, oil and gas, and renewables firms in Great Britain looking to supply controlled products to clients in the EU.
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