EU sanctions are measures imposed on the regime of a particular country or an organisation. EU parties must comply with EU sanctions, even outside the EU. Companies in virtually all sectors may be directly or indirectly affected by EU sanctions, such as the major EU sanctions against Russia. Even companies that do not operate in a sanctioned country may be impacted. This could be the case, for example, if they do business in the EU with a party on the sanctions list or owned by a sanctioned party, or (unconsciously) trade indirectly with a sanctioned country.
Sanctions violations can have major consequences. Violations are dealt with under criminal law and far-reaching punishments can be imposed. Depending on the specific sanction, continued trade with sanctioned parties can also attract a lot of media attention.
Up-to-date insight into the sanctions applicable and active monitoring of developments are therefore of the essence.
The Houthoff Sanctions Team is extremely knowledgeable about EU sanctions and skilled in addressing the practical challenges that these sanctions may present. The team is experienced in providing compliance advice on definite or proposed transactions, drawing up codes and procedures, providing training, handling questions from business partners, dealing with sanctioned parties, dealing with criminal enforcement of EU sanctions and conducting civil proceedings about EU sanctions.
The Houthoff Sanctions Team also boasts a strong network of partner firms abroad that can advise on the sanctions applicable in other jurisdictions.
