U.K. Nuclear and Military Exporters Told to Prepare for Hard Brexit
(Bloomberg) -- U.K. makers of nuclear material, weapons and sensitive technologies are being urged by the government to get new export licenses to prepare for a no-deal exit from the European Union.
Companies need to register and to 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.
Licenses for dual use items “will not be valid” if the U.K. crashes out of the bloc without a deal. 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 .
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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