Between export bans and the numerous entities and individuals now restricted from transacting in the global economy, organizations worldwide must evaluate the legal, reputational, and cybersecurity impacts on their supply chain. How can companies navigate the current landscape and mitigate their supply chain and cyber risks? Sanctions against Russia continue to evolve rapidly, as governments across the globe coordinate to impose a wide range of Russia-related sanctions measures, including asset freezes, financial or economic prohibitions, trade requirements, and export controls. Beyond growing regulatory prohibitions regarding Russia, companies are self-sanctioning and voluntarily withdrawing operations or investments from Russia. These multilateral efforts include the European Commission’s “Freeze and Seize Taskforce,” announced on 17 March, which formalizes what for two decades has been a shared responsibility between the European Commission and the European Union (EU) member states.
Read more : Transaction Monitoring And Risk Mitigation Strategies For Global Supply Chains.
