Elvira Khasanova speaks at Kazan Legal Week 2024
KKMP supported Kazan Legal Week 2024 held on May 22-24 by Pravo.ru and ANP ZENIT. KKMP Senior Associate Elvira Khasanova spoke on “Sanctions Compliance Trend in 2024: a necessity or a mechanism for adapting to an unstable reality?” during the “Prospects for Business Development in 2024” session.

Key takeaways:

  1. Sanctions compliance is a system of internal controls aimed at mitigating sanctions risks. Though, as a rule, sanctions compliance involves a whole system including a compliance manager, policies, instructions and audits, these instruments can be used separately. They demonstrate their efficiency in mitigating sanctions risks.

  1. The main risks that can be mitigated by sanctions compliance instruments are (1) the company or its managers falling under blocking sanctions, (2) difficulties in dealing with counterparties from third also “friendly” countries, (3) payments and other financial assets being blocked.

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