Sanctions remain one of the main challenges for companies engaged in foreign economic activity, operating in the financial sector or cooperating with foreign partners. The sanctions policy continues to expand not only in terms of coverage, but also in depth – new formats of restrictions are being imposed, requirements for screening counterparties are being tightened, and control by regulators is being strengthened.
Errors in screening counterparties and goods can lead to accounts blocking, contract breaches and reputational losses.
The geography of sanctions is expanding
Modern sanctions and restrictions are multi-level and interstate in nature. In addition to the United States, the European Union and Great Britain, Canada, Japan, Australia, Switzerland, China, Russia, South Korea and other countries are actively pursuing a sanctions policy. The number of programs covering not only counterparties, but also persons, transport, certain industries, goods and technologies is growing.
The sanctions relate to:
- individuals and legal entities
- water and air transport
- a wide range of goods
- participants of financial transactions and their intermediaries
- specific economic sectors
- organizations recognized as extremist, undesirable or foreign agents
Risks: from primary to secondary
Even in the absence of direct inclusion in the sanctions lists, business may face the consequences:
- accounts blocking due to links with persons from the sanctions lists (including the 50% Rule)
- disruptions in the logistics of goods due to sanctions restrictions on goods
- termination of contracts due to tougher sanctions compliance applied by foreign partners
- inability to conduct financial transactions banks may block transactions due to the sanctions trail
- criminal and administrative risks when working with extremists, foreign agents, undesirable organizations, etc.
- reputational losses if proper screening of the counterparty has not been carried out.
Screening is no longer limited to sanctions lists
Usually, sanctions mean international lists of the United States, the European Union, Great Britain and other countries. But in practice, the sanctions risks are much broader - a multilayered screening is required, covering a number of key aspects, including:
- the 50% Rule counterparties may not be directly included in the sanctions lists, but can be controlled or affiliated with those included. This creates hidden risks.
- Secondary risks screening of the related parties: owners, beneficiaries, managers, affiliates and subsidiaries.
- Commodity sanctions restrictions on the export/import of certain categories of goods, technologies and equipment.
- Transport sanctions restricted ships and aircraft cannot participate in international traffic.
- Restrictions on national legislation for instance, Russian companies must take into account the lists of foreign agents, undesirable organizations, the requirements of counter-sanctions (presidential decrees and government decrees).
- Internal corporate policies companies, banks and financial institutions use their own risk assessment criteria. These can be internal sanctions lists, restrictions on counterparties registered in certain jurisdictions, as well as companies associated with Politically Exposed Persons (PEP) or other features.
Globas Sanctions Compliance is a tool for identifying sanctions risks
The sanctions policy continues to actively change: new lists appear, inclusion criteria are expanding, and pressure on international trade participants is increasing.
One of the key trends in 2025 is the growth of requirements for the automation of sanctions compliance and the integration of such screenings into business processes.
The point-by-point screening has been replaced by a comprehensive approach. Now the sanctions analysis covers a wide range of objects: legal entities and individuals, transport, goods, as well as related persons, owners and beneficiaries.
Given the complexity of sanctions regulation, it is especially important to have a reliable tool for screening, analyzing and monitoring restrictions. This tool is the Sanctions Compliance module in Globas.
Sanctions Compliance offers:
- comprehensive analysis of sanctions risks: companies, persons, transport
- screening across all lists of Sanctions Compliance using single search bar
- the 50% Rules and identification of secondary risks
- analysis of restrictions within the framework of Special Economic Measures of Russia
- screening of sanctioned goods
- control of risks in accordance with the 115-FZ Federal Law;
- screening in lists of foreign agents
- checking for being undesirable organization
- identification of Politically Exposed Persons
- formalized reports and monitoring
- Receive data through GLOBAS API to integrate screenings into the company's business processes.
Sanctions Compliance in Globas enables businesses to conduct a comprehensive risk assessment of sanctions and other restrictions, along with full screening across all key factors.