How To Trace Russian Sanctions

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Russian sanctions are the weapon of the civilized world in the fight against the aggressor and support of Ukraine. Those who continue to work with Russian companies or beneficiaries risk reputation and assets and bear other compliance risks. There is only one way to avoid a Russian trace: to exclude from your field of connections any legal entities and individuals from Russia. And be aware that new Russia sanctions are being implemented worldwide every day.

Why Russia Sanctions Are Hard To Trace

Companies all over the world have connections with Russian partners. These can be suppliers, customers, beneficiaries even among your counterparties, or indirectly at the 2nd-3rd levels of business relations. Branches of Russian companies, their subsidiaries, and shell companies still operate in different countries, putting all other businesses at risk, especially since many hide their connections with Russia sanctions. Why do they manage to do this? And how we can make the quality sanction screening?

  1. First, there are a lot of Russia sanctions. They are implemented by different countries in many industries and fields of activity, so one may simply not foresee unobvious connections.
  2. Second, new Russia sanctions are introduced almost every day, and you have to keep abreast of updates.
  3. Third, information about the Russia sanctions is in more than 50 international databases, which are directly accessible to a limited number of users.

Overall, it makes it difficult to find information and sanction screening, check connections with Russian companies. And those, therefore, allow sanctions to be circumvented with impunity and endanger those exposed to the compliant risks. But you can contribute to the effect of Russia sanctions.

A quick sanctions screening

Direct or indirect cooperation with a Russian business can be regarded as support for military aggression. To avoid risk compliance, ensure there is no threat in your business field, including new Russia sanctions.

The easiest and most effective way to monitor sanctions is with the YC World tool. The tool works based on open data, contains the complete database from more than 100 sources and checks legal entities and individuals on more than 50 international sanctions lists.

The data is updated daily according to changes in the registries and lists. So you can rely on this verification tool, avoid high-risk connections, and protect your company from the negative effect of Russia sanctions.

You can try demo version. Start for free right now