Understanding Energy, Sanctions, and Commodities [EEB/ESC] at the Department of State
Definition & meaning
Energy, sanctions, and commodities (ESC) refers to a specific division within the Bureau of Economic, Energy and Business Affairs at the U.S. Department of State. This division is responsible for shaping and executing U.S. foreign policy related to energy resources, the imposition of sanctions, and the management of commodities. The ESC plays a crucial role in addressing international energy issues, which are vital for U.S. national security, especially given that the U.S. holds only 2% of the world's proven oil reserves and relies on imports for about half of its oil needs. Additionally, the ESC is involved in the Kimberley Process certification scheme, aimed at preventing the trade of conflict diamonds that finance rebel groups against legitimate governments.
Legal use & context
The term "energy, sanctions, and commodities" is primarily utilized in international relations and economic law. It intersects with various legal areas, including trade law, international law, and economic sanctions law. Users may encounter forms and procedures related to compliance with sanctions or regulations on energy trade. Legal templates from US Legal Forms can assist individuals and businesses in navigating these complex issues.
Real-world examples
Here are a couple of examples of abatement:
One example of the ESC's work is the negotiation of sanctions against countries that violate international norms regarding energy production and trade. For instance, sanctions may be imposed on a country for illegal oil drilling practices. Another example (hypothetical example) could involve a U.S. company seeking to ensure compliance with the Kimberley Process before trading diamonds to avoid inadvertently supporting conflict.