Sanctions regimes don’t get a holiday during an epidemic.
Kevin Riddell, Director, Trade and Regulatory Compliance at Constructions Products Groups, explains in this podcast that businesses must stay on top of a wide range of regimes. These include those from the UN, US and EU but also many smaller, individual countries around the world.
Adding to the challenge is the pace of change: organizations and individuals can frequently be added or dropped from sanctions lists. In addition, there can be competing regimes. Think about the differences between the US and Europe when it comes to Iran, but also Cuba.
To manage this complex risk Kevin offers several recommendations including:
- Work with an outside resource to identify potentially problematic companies and individuals
- Turn to your logistics partners for help
- Educate your workforce, don’t just provide some basic training
- Emphasize company policy, not just the law
Listen in to learn more about what you can do to help manage this often difficult risk area.