Foreign investment screening and export controls play a critical role in safeguarding European security and public order. This is the result of two reports adopted yesterday by the European Commission: the report on the screening of Foreign Direct Investments (FDI), and the report on the Export Controls Regulation. In 2021, the Commission analysed more than 400 foreign direct investments into the Union to ensure that no such investment threatens EU countries’ security or public order. All but two EU Member States now have screening mechanisms in place or are in the process of establishing them. Meanwhile, under the EU Export Control regime, Member States reviewed during the same year about 40,000 requests for exports of goods with potential military use to non-EU countries worth EUR 38.4 billion, blocking those exports in just over 550 cases. Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said: “At a time of mounting security challenges, in particular Russia’s unprovoked war of aggression in Ukraine, it is crucial to have our strategic trade and investment controls instruments up and running. In cooperation with our international partners, the EU deployed export controls to sanction Russia for its devastating war in Ukraine. The EU remains open to foreign investments, but this openness is not unconditional. It must be balanced. We must continue enhancing our capability to ensure this balance.” You will find more information in this press release.
Source ec.europa.eu
