Compliance at peril
Together with colleagues from Fieldfisher we have discussed the evolving Sanctions Enforcement landscape for 2023. Watch the discussions on demand.
The four speakers were partner Hans Jakob Folker and attorney Kristine Hjorth, both from Kromann Reumert, and Fieldfisher partners Vivien Davies and Quinton Newcomb.
In particular, we discussed enforcement trends in the Nordics and the UK. Different legal regimes and different liability norms make sanctions navigation difficult.
We further discussed the adding of sanctions violations to the list of EU crimes, which potentially is a game changer from an enforcement perspective.
With the Russian war machine speeding up, sanctions circumvention has become a growing concern for the EU Commission and the Member States.
The two recent proposals on asset recovery/confiscation and definition of criminal sanctions violations are part of the enhanced tools combating circumvention practices.
Entering 2023, the Swedish EU presidency calls for stronger prosecution of sanctions violations.
Looking ahead, sanctions compliance is therefore well advised, but with low liability standards, clients should be careful of arming themselves with the right protection.
Watch the full webinar.
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