On 7th June, specialist firm Boodle Hatfield published a briefing about an EU Regulation recently published in the Official Journal.  It says that the EU Regulation aims to crack down on illicit trade and terrorist financing, and intends to stop the import into the EU of cultural goods which have not been lawfully exported from their country of creation or discovery.  The Regulation is drafted to fill a gap in EU legislation; although the EU already prohibits imports of cultural goods from Iraq and Syria there is a lack of framework around imports of cultural goods from other countries.  The intentions of the Regulation are clearly admirable, but it seems unavoidable that this will have a significant effect on the EU’s art and antiques import markets.  The briefing lays out how the Regulation will work.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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