Since February 2022, restrictive measures and sanctions have affected most Russian big businesses and business owners. The list of Russian economic sectors that might be targeted by sanctions has been expanding significantly. In this environment, business owners and management teams need an external view of the existing and emerging sanctions risks.
BGP Litigation’s Compliance and Sanctions Law Practice offers assistance in assessing sanctions, regulatory and reputational risks and analysing the quality, practicability and efficiency of a company’s existing risk management system. We also make recommendations for more improved management of the relevant risks.
As part of this exercise, BGP Litigation’ lawyers review the company’s ownership structure, business processes, and public positioning “from OFAC’s perspective”. Our experts check the quality of the management of the sanctions, regulatory and related reputational risks.
Our team runs an external assessment of clients' internal policies, including without limitation the regulations for the compliance department, the regulations or job description for the sanctions compliance officer or risk manager responsible for sanctions risk management, and the client onboarding policies and procedures.
Our lawyers will also assess clients' supply chains in terms of the risks of violating the US or EU export control rules.