The rise of sanctioned parties and sanction regimes, an ever-growing importance for trade compliance
Trade compliance is a topic that has been around for quite a while now and, while it has always been important for traders of specific goods or those serving certain industries, its impact became much more far reaching in the wake of Russia’s invasion of Ukraine. Since February 2022, 14 packages of sanctions against Russia have been adopted by the EU, adding hundreds of individuals and entities to the sanctioned party list as well as restricting the import or export of certain goods, directly or indirectly, to or from Russia and affiliated states.