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As you know, the European Union has adopted several packages of restrictive measures against the Russian Federation in the wake of the Russian war of aggression against Ukraine and restrictive … measures against the Republic of Belarus in the light of the situation in Belarus. All these measures must be effectively implemented by the competent authorities and the EU economic operators. Let us discuss one of the measures - directly and indirectly sanctioned persons and how to identify them so that they do not appear among customers or suppliers.

How to stop the war in Ukraine? Countries apply sanctions. Canada cut Russia and Belarus from the Most-Favoured-Nation Tariff treatment. In just one day, the EU released nine decisions and regulations … concerning restrictive measures against Russia. Customs in Lithuania extended controls to check whether sanctioned banks were not used for payment. Many businesses, especially SMEs, for the first time, one way or another, have encountered the impact of sanctions. So what are sanctions? What are the related developments in general?

Sanctions are applied to restrict the movement of money, goods, and services to/from the sanctioned country; travel bans may apply to certain persons. Current developments and the new regulatory … framework are increasingly affecting businesses in the international trade and logistics sectors. Let's take a look at what is significant for businesses to pay attention to.