A trade embargo is imposed by a state or alliance of states on foreign trade with certain other countries. For companies that engage in international trade, this often means significant restrictions on the export and import of certain goods, as well as on global...
Financial sanctions have become an important instrument of international politics. They serve as an effective means of exerting pressure on states, organisations or individuals without resorting to military force. The EU sanctions list (CFSP) and other lists relevant...
Introduction: Sanctions lists and their verification are essential tools for ensuring compliance with international and national regulations. They serve to check business contacts for possible connections to sanctioned persons, organisations or countries. Companies...
An embargo can severely restrict trade relations between countries – for example, in the context of sanctions against companies, organisations and individuals. Whether your imports and exports are affected may depend on the type of goods to be shipped, the parties...
Since Russia's war in Ukraine, at the latest, the issue of sanctions has come into the public spotlight. But what exactly is a sanction, why are sanctions imposed, and who is affected? We provide an overview of all the important information.Definition: Sanction What...
Whether you are a financial services provider, an export-oriented SME or a large corporation, compliance with sanctions regulations is an integral part of modern compliance strategies. Automated sanctions list screening plays a central role in this. This is because...
Which countries are currently on the EU's embargo list? And what does this mean for foreign trade? An embargo country is a state against which comprehensive or sectoral embargo measures have been imposed – for example, in the areas of energy, technology, or finance....
In international trade, companies can face various forms of sanctions, the most severe of which is a total embargo. This comprehensive measure has a profound impact on foreign trade. Companies involved in foreign trade should understand the prohibitions and...
Basics of the “Know Your Customer” (KYC) principle “Know Your Customer”, or KYC for short, is a procedure for identifying business partners and customers that is designed to prevent criminal activities such as money laundering and terrorist financing. This makes the...