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On Demand Webinar
For corporates doing business internationally, it is vital to realize that even if a business complies with the high standards set by U.S. sanctions, it does not automatically mean the same business will comply with E.U. sanctions.
Is your sanctions/export controls program prepared for these nuances and discrepancies?
Many countries, such as: Egypt, Tunisia, Azerbaijan and Armenia, are targeted by E.U. sanctions but not by U.S. sanctions. Similarly, there can be individuals that are targeted by E.U.“designated parties” regimes, but are not simultaneously listed as U.S.Specially Designated Nationals (SDNs). Furthermore the E.U.controls software and technology in connection with certain markets that the U.S.does not.In fact, recently, the E.U. has adopted more custom-built measures, which target specific sanctioned ‘sweet spots’ within a country, e.g. the energy sector in Iran and Syria, or the banking/ energy/defense sectors in Russia.
As a sanctions/export controls officer, you can no longer rely on a common set of global rules and need to know the details of targeted or custom-made measures in order to avoid hefty penalties.
In this SanctionsAlert.com webinar, our expert panel will cover current trends and compliance challenges related to E.U. and U.K. sanctions, and provide practical tips for compliance. Experts will also cover emerging trends and what may be on the horizon, including:
- How to deal with divergence issues: U.S. v.s. E.U.;
- Varying enforcement trends among E.U. member states and what to expect from the role of U.K.’s new Office of Financial Sanctions Implementation (OFSI);
- What may be on the horizon with respect to Brexit and what can a business do now to prepare for post-Brexit licensing and other sanctions issues;
- Understanding Iran and the JCPOAunder E.U. sanctions;
- Whether there be a softening of E.U. sanctions against Russia or a continuing of the status quo;
- Whether there will be a progressive tightening of sanctions against North Korea;
- Whether the new E.U. sanctions against Venezuela will remain limited or expand in scope to become more like U.S. sanctions;
- The role of banks and use of EU vs. US or other currency;
- Use of contractual techniques such as governing law, special export controls/sanctions clauses;
- In- house sanctions compliance measures, such as policy, training and due diligence and third party risk management;
- The practical compliance and risk management issues that corporates are facing and best practices that you can adopt to stay in compliance;
March 22, 2018
Jan J.H. Verloop