The Impact of Russia's Invasion of Ukraine: A Trade Finance Compliance Perspective - August Update
As the Russian war effort directed against Ukraine continues, the latest round of sanctions forces shippers, cargo operators, corporates, banks and insurers to reevaluate their compliance programs to align with global regulation.
To date, the European Union has imposed seven packages of sanctions against Russia and Belarus, including targeted restrictive measures, economic sanctions and diplomatic actions. Regulators across North America, parts of Asia and the United Kingdom have implemented similar sanctions, all in an attempt to hinder Russia's war effort.
The gradual rollout of stringent sanctions targeted at Russia has led to an increase in illicit trade behaviours, including dark shipping activity, vessel flag falsification and illicit goods' movements.
Download Whitepaper
This paper provides insight on the most recent coverage, including: vessel activity in high-risk areas and illicit shipping practices, suspected theft of Ukrainian grain by Russian and Syrian bulk carriers, Russian oil movements, Russian supply chain activity and trends, and dual-use goods and commodities of concern.
Please fill in the form to download this paper.