U.K. Nuclear and Military Exporters Told to Ready for Brexit
(Bloomberg) -- U.K. makers of nuclear material, weapons and dual-use technologies are being urged by the government to get their export licenses in order in the even of a no-deal exit from the European Union.
Companies may need to register and obtain permission under the U.K.’s new “Open General Export License” to continue exporting so-called dual use goods to the EU from March 29, according to a statement from the Department for Business, Energy and Industrial Strategy.
Existing licences issued in the U.K. for the export of so-called Trigger List items -- which have already been subject to assessment -- will remain valid. About 99 percent of the licences issued by the U.K. will remain valid if the U.K. leaves the EU without a deal, BEIS said in an email on Friday.
Licences for the export of dual use items to EU Member States will become necessary if the U.K. leaves the EU without a deal, according to the statement. Companies currently don’t need licences to export dual-use items with the bloc. The new OGEL license would allow exports to continue even without a deal.
BAE Systems Plc and Urenco Ltd. are among U.K. companies that would be most directly impacted by a no-deal Brexit. Thousands of items ranging from computer software and digital converters to fuel cells and robotic arms face trade restrictions without new paperwork.
The U.K. also warned this week that new restrictions could be imposed on shipments of spent nuclear fuel and other radioactive waste under a no-deal scenario. Just as banks have made London a global financial hub, its ties to the EU’s nuclear industry has helped turn the U.K. into a central cog servicing the world’s flow of atomic materials.
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