With rising geopolitical tensions, sanctions are increasingly being deployed. Sanctions are restrictive measures directed against designated individuals and entities or directed against the provision of goods and services in certain sectors of an economy.

The business community must provide practical interpretation and implementation of sanctions rules. Moreover, as gatekeepers, financial firms must screen relationships and monitor transactions and freeze assets if necessary. And that is quite a challenge.

Sanctions lists are constantly being added to and trade restrictions are also constantly being expanded. Doing business directly with sanctioned parties is prohibited, as is indirect trade that benefits a party on the sanctions list. Violation or circumvention of sanctions regulations can lead to fines, prosecution or other enforcement action.
Given developments around the world, it is essential to identify and effectively manage sanctions risks, both for financial firms and their advisors, and companies and other organizations doing business with them.

Our specialists are happy to assist with legal advice on applicable sanctions regulations and assistance in discussions about the impact of sanctions on contractual relationships and other collaborations, including:

– Assistance with regulatory or bank inquiries regarding sanctions compliance
– Analysis of sanction risks of clients or activities
– Advice on the design of sanctions policies and procedures
– Guidance on enforcement actions due to sanctions
– Advice on agreements affected by sanctions
– Assistance when terminating a (banking) relationship due to sanction risks