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Overcoming Logistics Challenges in International Projects
International industrial projects promise opportunity, but also bring complications. For project leaders, engineers and logistics professionals, the question isn’t whether challenges will arise, but how they’ll be managed. From variable infrastructure to customs compliance, successful delivery across borders requires foresight, flexibility and the right partners.
EU-US sanctions against Russian Companies
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.