Compliance & Sanctions
Legal Compliance. Legal advice on sanctions (counter-sanctions) and related risks
BRACE Law Firm offers a wide range of services for the implementation of compliance measures both within the company itself and in relation to its clients, suppliers and other counterparties, as well as a range of services related to the imposition of sanctions.
Currently, more and more restrictions are being introduced in the operational mode by states unfriendly to Russia, both in relation to business entities and in relation to individuals. As a result, a situation has developed in which the destruction of the logistics chains that have developed over many years in the framework of the import and export of goods, the impossibility of making a number of payments, the redistribution of the market, and the imposition of penalties on economic entities have become a common phenomenon.
In connection with the tightening of sanctions, anti-corruption, anti-monopoly, currency, tax and other legislation, it is necessary to pay close attention to ensuring preventive measures in relation to countering the risks of violation of the law, including prevention corruption and fraud, including “negative lists” and applying sanctions against business partners.
In international law, sanctions are commonly understood as measures applied by one state (states) to another state and / or its citizens in the event of a threat to the peace, violations of the peace or an act of aggression.
Sanctions have been imposed on Russia, Russian citizens and Russian business by many foreign states. These sanctions include an embargo (a ban on the import or export of any goods, services, currency and other valuables to a particular country), bans on entry into a foreign state for specific citizens of the country, closure of airspace, prohibitions on participation in public procurement, banking activities and a number of other prohibitions and restrictions.
It is important to note that sanctions instruments are quite flexible, constantly modified and supplemented, and therefore require constant monitoring of their changes and applicability to specific cases that arise in practice.
In addition, the Russian Federation is introducing retaliatory measures and restrictions, which may affect the withdrawal of foreign business partners from the Russian market, as well as adopting legal acts aimed at supporting the domestic economy, including small and medium-sized businesses. These measures also directly affect the participants of the Russian market, as they allow avoiding a possible crisis for certain economic sectors (for example, such measures include concessional lending, a moratorium on inspections of representatives of small and medium-sized businesses, the introduction of free economic zones, etc.).
At present, the operational monitoring of legislative activity plays an essential role in ensuring the possibility of the break-even functioning of economic entities.
In this regard, it is especially important to carry out sanctions compliance in relation to a particular organization, as this allows taking into account the peculiarities of its activities and responding to current changes in a timely manner.
Often, in the process of conducting sanctions compliance, there is a need to change the internal policies of organizations, introduce new control measures, and assess risks within the framework of activities actually carried out or planned for implementation.
In addition to the analysis of internal processes in the company, compliance includes an analysis of restrictions introduced both at the stage of adopted legal acts and bills under consideration, and also allows for a comprehensive check of counterparties, as there are currently risks of sanctions against a number of legal entities, as well as the risks associated with increased cases of fraud. Sanctions can affect conscientious market participants who have no intent to commit an offense. Sanctions can lead a bona fide company into legal relations with unscrupulous partners who are pursuing the goal of making super profits.
Another area of compliance is minimizing the risks of non-fulfillment of contractual obligations if sanctions have already affected the activities of a particular organization. In this situation, it is recommended to avoid ignoring the sanctions consequences and immediately seek legal assistance, as this can significantly reduce both financial and time costs.
Thus, compliance is aimed at a comprehensive and comprehensive assessment of all business risks in the constantly changing economic situation associated with the imposed sanctions restrictions. This service of sanctions compliance is necessary not only for foreign economic activity participants, but is also recommended for Russian companies operating within the country.
- Sanctions compliance
- Legal risk assessment of business processes within the organization in order to minimize sanctions risks
- Analysis for the presence of external restrictions and sanctions
- Legal analysis of the company's internal policies in order to reduce economic risks and optimize
- Development and improvement of internal policies and procedures
- Building and optimizing compliance mechanisms
- Verification of suppliers, customers and other counterparties
- Advising on legal acts adopted regarding sanctions and counter-sanctions against Russia
- Legal advice on the implementation in organizations and their application of possible support measures and benefits related to the mitigation of imposed sanctions and the protection of the Russian economic sector
- Current analysis of sanctions risks for already concluded transactions and transactions planned for conclusion
- Supporting the conclusion of transactions by Russian and foreign companies in order to avoid and/or minimize the risks of falling under sanctions restrictions
- Analysis of the risks associated with possible prosecution for violations of imposed sanctions restrictions