Legal Сheck for Inclusion in the Sanctions Lists

Legal assistance to clients on the inclusion of counterparties in the sanctions lists

Lodging a complaint on actions (inactions) of a governmental customer and other persons in the controlling body according to the Law No 44-FZ

Recently, the words “sanctions” and “sanctions lists” have entered the business sphere and have reflected their impact on almost all areas of business processes. At the same time, specialists advising on the imposed restrictions are increasingly required to provide legal advice in this area and assistance in interacting with counterparties that are subject to sanctions restrictions.

It is important to note that there is no single list of restrictions imposed on types of activities, individuals, companies and organizations. In most cases, regulators of international organizations and states form their own sanctions lists and post them on their platforms. It is important to understand that sanctions are divided into several types: industrial, blocking, secondary, etc. Depending on the type of sanctions, certain interaction with such counterparties is envisaged. Verification of counterparties according to sanctions lists can be carried out:

  1. On the website of the Chamber of Commerce and Industry of the Russian Federation. This information resource contains the decision of states and international organizations that have introduced restrictive measures, but often such documents are posted in a foreign language.
  2. Specialized information platforms. These are information portals that collect posted information about the imposed sanctions restrictions, structure it and save time on searching for counterparties that could have been subject to sanctions restrictions.
  3. Mass media. When searching through this informative resource, it is important to track the time of publication. This is due to the fact that the posted information may already be out of date.
  4. Websites of international regulators, etc.

The most convenient way to check suppliers, customers and other counterparties is through information portals that allow you to check counterparties for inclusion in the sanctions lists. Such information systems reflect:

  1. Full name (for individuals).
  2. Reason for inclusion in the sanctions lists.
  3. Date of inclusion.
  4. The country or organization that imposed the restriction.
  5. Name of the sanctions program, etc.

Such a consolidation of information into a single system facilitates the work on the inclusion of counterparties in the sanctions lists. At the same time, it is also important to note that the most reliable way to check counterparties is to check on the websites of international regulators.

At the same time, the diversity and versatility of sanctions affects not only an individual, but also, for example, a company, the founder of which he is. There are many examples of such hidden sanctions, therefore, in order to fully study the issue in terms of checking suppliers, customers and other contractors for inclusion in the sanctions lists, entrepreneurs prefer to seek help from qualified specialists. An audit conducted by experienced lawyers helps to minimize the risks that arise in connection with the introduction of sanctions restrictions. Possible risks include:

  1. Interaction with an organization subject to sanctions restrictions.
  2. The risk of receiving a fine for interacting with counterparties included in the sanctions lists.
  3. The risk of impossibility to fulfill obligations under concluded transactions due to the introduction of sanctions restrictions.
  4. The risk of being included in sanctions lists for interacting with organizations that have been sanctioned.

At the same time, it is important to note the advantages of involving a supplier, client and other counterparties in the verification for inclusion in the sanctions lists of a qualified lawyer:

  1. Saving time for testing.
  2. Reliability of the check carried out.
  3. Knowledge of foreign languages, allowing you to freely study the necessary information in the field of sanctions restrictions.
  4. Opportunity to get advice from an experienced lawyer on issues of interaction, in case the counterparty was included in the sanctions lists, etc.

For safer interaction with counterparties under sanctions restrictions, it is recommended to introduce a sanctions policy that reflects:

  1. Procedure for interaction with counterparties subject to sanctions.
  2. Procedure for a legal check of counterparties. It is important to reflect that not only a legal entity is subject to verification, but also heads of organizations, founders, beneficiaries, etc.
  3. Checking the scope of the company. This section must be included in connection with the introduction of restrictions not only on organizations and individuals, but also on certain areas of activity, for example, the banking sector, etc.

The development of the structure of the sanctions policy in the organization largely depends on the scope of the company, the size of the organization and the interest of the management in safe interaction with counterparties.

Considering that the topic of sanctions restrictions and doing business under these conditions is relatively new for the business community, interaction with counterparties should be carefully checked for possible restrictions imposed on the supplier, client and other counterparty. At the same time, for a full verification of the counterparty, among other things, the experience of doing business under sanctions restrictions is important, as well as knowledge of the law governing such relationships, taking into account the fact that regulatory documents in this area are constantly undergoing changes.

Legal services

  1. Advising clients on issues of inclusion in the sanctions lists and verification of counterparties
  2. Checking counterparties on sanctions lists
  3. Legal assistance to clients in cases where the counterparty is included in the sanctions lists with an already concluded and valid contract
  4. Assistance in the formation of the company's sanctions policy

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