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Navigating sanctions, tariffs, and blocking statutes | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

This panel tackles the intricate challenges posed by sanctions and tariffs in the realm of international cooperation, also exploring how these instruments contribute to geoeconomic fragmentation. It will debate the boundaries and implications of the national security exception in economic public international law, e.g. under WTO law. What is the assessment and classification of the so-called ‘monetary tariffs’ under international and EU law?

The panel will further investigate the extent to which the theory of countermeasures under public international law may legitimise economic sanctions. Additionally, the role and function of blocking statutes in both the EU and the US will be explored, highlighting their significance in countering the extraterritorial effects of foreign sanctions.

Panellists:
• Christoph Herrmann, Professor, Universität Passau
• Frank Hoffmeister, Director of Legal Department, European External Action Service
• Laila Medina, Advocate General, Court of Justice of the European Union
Chair: Juliane Kokott, Advocate General, Court of Justice of the European Union

Watch other sessions from the 2025 ECB Legal Conference “Building Europe’s Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=KWZGP5wglW0

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Exterritoriality, equivalence, and mutual recognition | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

This panel examines various forms of cross-border interaction between legal systems, including extraterritorial inspections, mutual recognition of administrative decisions, and regulatory equivalence. It will explore how the EU can develop effective legal tools to counteract the unwarranted extraterritorial reach of third-country laws while ensuring the enforcement of its own rules.

Particular attention will be given to banking supervision, such as when third-country authorities intervene with EU-based institutions or the ECB conducts inspections abroad. The panel will also consider the EMIR regime for central counterparties and the recognition of decisions in crisis management. The panel will examine whether such interactions are still viable in the current environment or if a new paradigm is emerging in which the effects of decisions made in one jurisdiction are actively blocked in others.

Panellists:
• Matthias Lehmann, Professor, University of Vienna
• Maria Raffaella Assetta, Head of International Affairs Unit (FISMA), European Commission
• George Johnston, Deputy General Counsel, Bank of England
Chair: Piet Eeckhout, Professor of European Law, University College London

Watch other sessions from the 2025 ECB Legal Conference “Building Europe’s Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=Sljlm7kJ68A

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The Rule of Law in 2025. On Rights, Risks, and Responsibilities | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

Susanne Baer, Professor at Humboldt University Berlin, former Justice of the German Federal Constitutional Court, delivers closing remarks on the first day of the 2025 ECB Legal Conference.

Watch other sessions from the 2025 ECB Legal Conference “Building Europe’s Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=4klwfvOr9U4

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Autonomy through the internal market and the capital markets union | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

In light of current challenges to international trade, deepening the internal market has become crucial to enhancing the EU’s autonomy. This panel will examine how this context influences the law of the internal market, with a special focus on current debates around the capital markets union (CMU), which is key not only for productivity but also for funding EU economic autonomy.

The discussion will also cover recent proposals for a savings and investment union. It will also extend to critical aspects of EU emergency law, such as the Internal Market Emergency and Resilience Act (IMERA) and other relevant internal market instruments, such as the Chips Act and the recent European Defence Industrial Strategy (EDIS).

Panellists:
• Catherine Barnard, Professor, University of Cambridge
• Emanuele Rebasti, Head of Unit, Council of the European Union
• Larisa Dragomir, Member of Cabinet of Maria Luís Albuquerque, European Commission
Chair: Isabel Schnabel, Member of the Executive Board, European Central Bank

Watch other sessions from the 2025 ECB Legal Conference “Building Europe’s Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=J1dwAKB_si0

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Building budgetary autonomy | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

Budgetary autonomy is typically associated with the power to issue debt, tax and control expenditure. However, in the original Economic and Monetary Union (EMU) plan, this form of EU autonomy was limited. Recent challenges have revived debates on EU-level borrowing and taxation.

This panel will examine existing funding tools like the multiannual financial framework (MFF) and the NextGenerationEU (NGEU), as well as defence-related mechanisms such as the European Peace Facility. It will also address the increasing linkage between EU funding and the enforcement of foundational values, as underscored by the Rule of Law Conditionality Regulation, and the jurisprudence of the Court of Justice.

Panellists:
• Paul Dermine, Professor, Université Libre de Bruxelles
• Alberto de Gregorio Merino, Director at the Legal Services, European Commission
• Cristina Fasone, Associate Professor, LUISS University
Chair: Bruno de Witte, Professor of European Union Law, Maastricht University

Watch other sessions from the 2025 ECB Legal Conference “Building Europe’s Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=vj8t5SNue2M

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Welcome address | 2025 ECB Legal Conference

Source: European Central Bank (video statements)

Welcome address by Chiara Zilioli, Director General of Legal Services at the European Central Bank (ECB), on the first day of the 2025 ECB Legal Conference.

The conference focuses on institutional, constitutional and judicial issues. The theme of the 2025 ECB Legal Conference is “Building Europe’s Autonomy: Law, Institutions, Cooperation.” The conference took place on 1 and 2 September 2025 as a hybrid event.

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html

https://www.youtube.com/watch?v=u4HHWfSjE0k

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What is the multilateral trading system? | Ask the WTO

Source: World Trade Organization – WTO (video statements)

The multilateral trading system is the framework behind global trade, based on common rules that make international exchanges more open, predictable, and inclusive.
With 166 members representing over 98% of world trade, the WTO stands at the center of this framework, where countries agree to play by the same rule book.
Santiago Wills, Director of the Council and Trade Negotiations Committee (TNC) at the World Trade Organization, explains how it all impacts everyday life.
‘Ask the WTO’ is a new series where experts explain key trade concepts and answer your questions.
Have a trade question you’d like explained? Drop it in the comments and our experts will answer it in future episodes.

Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

https://www.youtube.com/watch?v=Q_kZuVl5b1I

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What are ’embedded emissions’ and can global trade help reduce them?

Source: World Economic Forum (video statements)

What are ’embedded emissions’ and can global trade help reduce them?

The European Union is implementing a ‘Carbon Border Adjustment Mechanism’ (CBAM) that will levy a fee on importing certain goods that are produced in countries that do not have carbon pricing regulations aimed at reducing greenhouse gas emissions.

It’s an idea that other countries are considering, but is also hugely complex and may be challenged by exporter countries. Two expert guests explain the policy and its implications for business and global trade.

Speakers:
Aaron Cosbey, Senior Associate, International Institute for Sustainable Development (IISD)
Dandy Rafitrandi, researcher at the Department of Economics, Centre for Strategic and International Studies (CSIS), Indonesia
Kimberley Botwright, Head, Sustainable Trade, World Economic Forum (co-host)

Links:
World Economic Forum Centre for Regions, Trade and Geopolitics: https://centres.weforum.org/centre-for-regions-trade-and-geopolitics/home
Emissions in trade: Where are they and how do we measure them?: https://www.weforum.org/stories/2025/03/emissions-in-trade-how-we-measure-them/
CBAM: What you need to know about the new EU decarbonization incentive: https://www.weforum.org/stories/2022/12/cbam-the-new-eu-decarbonization-incentive-and-what-you-need-to-know/
What future for climate and trade? Scenarios and strategies for carbon competitiveness?: https://www.weforum.org/publications/what-future-for-climate-and-trade-scenarios-and-strategies-for-carbon-competitiveness/
Countries must deal with imported emissions in a fair and flexible way: https://www.climatechangenews.com/2025/08/27/countries-must-deal-with-imported-emissions-in-a-fair-and-flexible-way/
European Commission on CBAM: https://trade.ec.europa.eu/access-to-markets/en/news/carbon-border-adjustment-mechanism-cbam
International Institute for Sustainable Development: https://www.iisd.org/
Centre for Strategic and International Studies: https://www.csis.or.id/

Podcasts:
Climate science is clearer than ever. How should companies respond?: https://www.weforum.org/podcasts/radio-davos/episodes/climate-science-policy-business-response/
It was ‘no deal’ on a global plastics treaty – so what happens now?: https://www.weforum.org/podcasts/radio-davos/episodes/plastics-treaty-inc5-gpap/
Tariffs, globalization, and democracy, with Harvard economist Dani Rodrik: https://www.weforum.org/podcasts/radio-davos/episodes/dani-rodrik-economics-globalization-tariffs/
The global economy ‘at a crossroads’ ahead of Davos: Chief Economists Outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-ralph-ossa-wto/

Check out all our podcasts on wef.ch/podcasts:
YouTube: https://www.youtube.com/@wef
Radio Davos – subscribe: https://pod.link/1504682164
Meet the Leader – subscribe: https://pod.link/1534915560
Agenda Dialogues – subscribe: https://pod.link/1574956552
Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

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https://www.youtube.com/watch?v=xfOdTbWTsrU

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Papua New Guinea: Forging a nation from diversity- UN Chief Briefing | United Nations

Source: United Nations (video statements)

António Guterres, Secretary-General of the United Nations, deliver remarks at a meeting of the Parliament of Papua New Guinea.

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The Secretary-General addressed the Papua New Guinea parliament during a special session to mark the country’s 50th anniversary of independence.

He told members of Parliament that for the past half century, the people of New Guinea have worked to have a single nation out of many traditions, many islands and many tongues. The country has undertaken the daunting task of forging a single nation from a profound diversity. It is a path that demands courage and vision, the Secretary general said, adding that the United Nations is proud to accompany Papua New Guinea on every step.

On Climate, the Secretary-General commended Papua New Guinea’s bold climate action, highlighting that the island nation is home to seven percent of the world’s biodiversity, and some of the largest coral reefs and rainforests on the planet.

Guterres reiterated, “We must be ever vigilant in safeguarding these crucial ecosystems, and you have made the case that national protection deserves global support. You have emphasized that climate change is a driver of poverty, and been a strong moral voice for climate finance.”

The Secretary-General stressed that while climate finance is vital –– it is not sufficient on its own. Many developing countries are drowning in unsustainable debt, victims of inequalities built into the system.

He said, “Today’s international financial architecture is unequal and unjust. We will keep pushing for meaningful reform to ensure the fair representation of developing countries; to take real action on debt relief; to triple the lending capacity of multilateral development banks; and to mobilize private capital at scale.”

Guterres also emphasized Papua New Guinea’s vital step of speaking openly, of making commitments, and of forming the Parliamentary Committee on Gender Equality and Women’s Empowerment.

“Across politics, culture, and every sector, we must keep working to widen the doors of opportunity for women and girls in Papua New Guinea and in the world at large,” the UN chief stressed.

He added, “Ensuring greater voice and representation of women is not only a matter of justice — it is a matter of national strength. Families thrive. Communities grow stronger. And institutions become more responsive when we uphold the rights of all.”

The Secretary-General also met with the leaders of the Autonomous Bougainville government and met with Papua New Guinea’s women leaders today.

https://www.youtube.com/watch?v=qwEQI1Fczgc