Some are reflecting on where their compliance programs had gaps. [3]More importantly, the multilateral coalition has stayed together while European partners continue considering how to unwind their exposure to Russia. [5] Outdated sanctions programs akin to carpet-bombing campaigns have evolved into wide-scale precision bombing operations. [9] An economic drift leads to a regulatory drift, complicating regulatory compliance for foreign companies.Companies considering leaving Russia also risk nationalization and countersanctions. A recommitment to sanctions compliance programs that not only comply with regulatory expectations but protect their organizations against unknowns in the future will be key.

Source: Washington Post March 31, 2022 17:31 UTC