What does a $200,000 fine for illegal teak on luxury yachts say about the true cost of forest crime? When penalties are small, companies can absorb them as a cost of doing business, with little consequence for their overall profit margins. Forest crimes are perceived as low-risk, high-reward offences, which ultimately reflects a wider problem […]
EIA has welcomed the guilty pleas entered by UK luxury yacht manufacturer Sunseeker International Ltd and its US subsidiary Sunseeker USA Sales for violations of the US Lacey Act linked to the use of illegally sourced teak from Myanmar. The case marks one of the most significant US enforcement actions involving Myanmar teak since the […]
A new ruling by the EU Court of Justice (CJEU) may partially undo earlier criminal convictions for importing teak from Myanmar in defiance of a previous EU sanctions regime. In April 2021, Hamburg Regional Court’s convicted WOB Timber and Stefan Bührich for imports of Myanmar teak contrary to the previous EU sanctions regime implemented against […]
Today (21 June 2024) marks exactly three years since the EU joined the US in introducing measures to prevent Myanmar teak from reaching their markets. Yet, millions of euros worth of shipments of the timber have since entered both countries. Why is this still happening?
... Teak is highly prized in luxury yacht building for its durability, water-repellent properties and elegant appearance. And as the best teak on Earth is found in Myanmar (formerly known as Burma), it may be assumed that it will have been used for the acres of decking on Bezos's yacht, although neither he nor Oceanco have confirmed it
The first successful criminal prosecutions under the EU Timber Regulation may be a turning point in meaningful enforcement of the law created to keep stolen and illicit timber out of the bloc’s markets.