ICC Institute of World Business Law Task Force on Compliance Has Released a Guide on Sanctions for Small and Medium-Sized Enterprises (SMEs)
The guide focuses on trade sanctions and trade-control compliance in SMEs.
In particular, the guide provides:
> OFAC sources: Sanctions search; Consolidated sanctions list
> EU sources: Sanctions map
> UK sources: UK sanctions list; Office of Financial Sanctions Implementation
> UN sources: Security Council, Consolidated list search
> Sources on Russia sanctions: Correctiv, Sanctions tracker; Castellum, Sanctions dashboard; Al Jazeera, List of sanctions on Russia after invasion
The Guide is available at the following link
In particular, the guide provides:
- Definition and classification of trade sanctions.
- Main impacts of sanctions on SMEs, including the impact on commercial transactions, obtaining financing, exporting and importing goods, services or technology, etc.
- Recommendations for SMEs on measures to avoid violations of trade-compliance requirements and to mitigate penalties in the event of an actual violation of sanctions (risk assessment, due diligence, sanctions compliance policy, internal investigation and self-reporting).
- Sources on sanctions restrictions:
> OFAC sources: Sanctions search; Consolidated sanctions list
> EU sources: Sanctions map
> UK sources: UK sanctions list; Office of Financial Sanctions Implementation
> UN sources: Security Council, Consolidated list search
> Sources on Russia sanctions: Correctiv, Sanctions tracker; Castellum, Sanctions dashboard; Al Jazeera, List of sanctions on Russia after invasion
- Sources on guidelines about sanctions compliance policies.
The Guide is available at the following link