Sanctions and Export Controlsen
Economic sanctions
Restrictive measures imposed by the EU or UN limiting trade with certain countries or entities.
Economic sanctions
Economic sanctions are restrictive measures adopted by the European Union, the United Nations or other bodies to exert pressure on states, entities or individuals.
Types of sanctions
- Commercial embargo: total or partial ban on trade with a country
- Asset freeze: blocking of funds and economic resources of designated persons or entities
- Sectoral restrictions: bans targeting specific sectors (arms, energy, finance)
- Restrictions on services: prohibition on providing certain services (insurance, advice)
Legal framework in the EU
EU sanctions are adopted by regulations directly applicable in all member states. They are implemented by the competent national authorities.
Corporate bonds
Companies must implement screening procedures for their business partners, check the lists of sanctioned people and report any suspicious transactions.
Risks of non-compliance
Sanctions violations can result in severe criminal penalties, significant fines and serious damage to the company's reputation.