NewsCase StudiesEvents

EU-US sanctions against Russian Companies

Also in the news...

Procedure for Obtaining Mobile Money Operator License in Nigeria

On 3rd August 2021, the recent Central Bank of Nigeria (“CBN”) released the Guidelines for the Establishment and Regulation of Payments Service Holding Companies (“PSHC”) in Nigeria. The Guidelines requires companies that intend to offer both switching and processing and mobile money services to set up a PSHC structure.

Overseas Business Risk - Cameroon

Information on how UK businesses can control risks when operating in Cameroon.

START YOUR COMPANY AND GET A FREE VISA: FROM AED 14,500

Charterhouse Lombard wants to get you set up for the long term– with a free visa for life.

Made in the UK, Sold to the World: New strategy to boost exports to £1 trillion

The new export strategy kickstarts ‘Race to a Trillion’ as DIT publishes 12-point plan to help UK businesses hit £1 trillion in exports.

We find the right free zone for you at the right price

Looking to set up your UAE company? At Charterhouse Lombard we put together the best offers from free zones around the country to find the right match for you.

EU-US sanctions against Russian Companies

Back to News

The EU-US sanctions against Russian companies and individuals forbid any economic interaction with the persons from the sanctions list and companies which are owned for 50% or more by these persons, or controlled by them. A violation of sanctions can be punished very hard: a sanctions violation can cost a company fines over $1,000,000 and imprisonment for managers for up to 30 years (US) or 10 years (Germany or other European countries). Irresponsible action (i.e. negligence) is punishable too.

That's why it is very important for any company, doing business in Russia or Ukraine, to find out, if there are sanctioned persons among its customers, suppliers or partners.

In the last months, we have developed a very special service, informing our clients about the sanctions impact, and we observe a huge interest of our clients and other companies in the problem, as many companies do not understand, who should follow the sanctions, what does the sanction regime mean and what legal and economic impact do sanctions have. With our specially designed search engine we can analyze all business contacts of our clients (their customers, suppliers, partners) and find out, if they are owned (even through a mother company or a mother company of a mother company) by a listed person or company.

To perform this check, we need to know a name of a company and its tax number ("INN" in Russia). A company's tax number ("INN") is an opened information in Russia, available at any company, you deal with.

 

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.