Updated Industry Guidance on preventing sanctions evasion

Since February 2022, the G7 countries have implemented unprecedented export controls and sanctions restricting Russia’s access to technologies and other materials required to sustain its war in Ukraine.

The Guidance provides:

• A list of items which pose a heightened risk of being diverted to Russia;
• Updated red flag indicators of potential export control and/or sanctions evasion;
• Best practices for industry to address these red flags; and
• Screening tools and resources to assist with CDD.

Firms with operations across the G7 in sectors impacted by sanctions and export restrictions should review the latest guidance and take any appropriate action in complying with all financial sanctions requirements