Sanctions legislation is complex and in constant transformation, changing in line with international geopolitical trials that the world is facing. This fluidity poses a challenge to companies and banks seeking to comply with sanctions. The course includes a review of nature and type of economic sanctions and overview of UN, EU, and USA sanctions regimes, particularly focusing on regional sanctions most likely relevant for Cyprus entities (Russian, Iranian and Syrian programs) and sanctions compliance implications for shipping companies. The course provides guidelines for the design and implementation of the sanctions compliance programs and also contains case studies and practical examples of sanctions screening.
The course focuses on essential sanctions principles that a compliance professional should know:
- Comprehending sanctions and consequences of sanctions non-compliance.
- Grasping key features of the UN, EU, and US sanctions regimes and their application.
- Knowing the main characteristics of sanctions regimes on Russia, Iran, and Syria.
- Understanding the complexities of sanctions compliance risk in the Shipping Industry.
- Getting practical guidelines for sanctions governance.
- Knowing sanctions lists and learning screening procedures through practical case studies.