Taking the Pulse of Sanctions

                                         
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Taking the Pulse of Sanctions

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Sanctions Pulse Infographic Series

Sanction

(noun)
sanc·tion | \ ˈsaŋ(k)-shən  \ 
an action that is taken or an order that is given to force a country to obey international laws by limiting or stopping trade with that country, by not allowing economic aid for that country, etc.1

Sanctions Pulse Infographic

New administrations, new regulations, and ever-changing watchlists; these and other factors are just some of the ongoing challenges compliance professionals face to ensure sanctions compliance. 

LexisNexis® Risk Solutions regularly analyze sanctions data from four key regulators (UN, OFAC, EU, OFSI) to identify trends and changes in policy. Our Sanctions Pulse infographic series outlines key changes in sanctions and watchlist data by numbers and focus areas, and gives insights into where regulators are focusing their attention and how companies need to respond. 

At this time, we are witnessing unprecedented sanctions. The next edition of our Sanctions Pulse Infographic will reflect the surge of activity we are seeing, and will include data from January to June 2022.

Why is sanctions compliance important?

Sanctions compliance ensures businesses stay on the right side of the law and do not engage with sanctioned entities or individuals - it should form the cornerstone of any compliance program. LexisNexis® Risk Solutions' Sanctions Pulse series is a comprehensive overview of the watchlist changes from major regulators, empowering compliance professions to understand trends and implement a sanctions compliance program suited to the everchanging regulatory environment.

Updates by list - January - December 2021

According to the United Nations, sanctions encompass a broad range of enforcement options that do not involve the use of armed force. Sanctions can range from “comprehensive economic and trade sanctions to more targeted measures such as arms embargoes, travel bans, and financial or commodity restrictions.” The United Nations has applied sanctions “to support peaceful transitions, deter non-constitutional changes, constrain terrorism, protect human rights and promote non-proliferation.”

Sanctions imposed by the United Nations Security Council apply to all UN nation states. 
UN Sanctions List

According to the U.S. Department of the Treasury, OFAC Sanctions, “The Office of Foreign Assets Control ("OFAC”)… administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.”

The OFAC Sanctions list includes the specially designated nationals and blocked persons list (SDN), which applies to:

  • all U.S. citizens, wherever they are in the world
  • corporate entities constituted in the U.S.
  • any entity that:

- trades in U.S. dollars
- uses U.S. goods or components
- has a U.S. parent, subsidiary or affiliate
- and/or work through a local agent or supplier with a U.S. connection

OFAC Sanctions List

According to the European Union, sanctions “are an essential tool in the EU’s common foreign and security policy (CFSP), through which the EU can intervene where necessary to prevent conflict or respond to emerging or current crises…They are intended to bring about a change in policy or activity by targeting non-EU countries, as well as entities and individuals, responsible for the malign behaviour at stake.”

The EU consolidated list of sanctions applies to all EU citizens, wherever they are in the world, as well as corporate entities constituted in a member state.
EU Sanctions List

According to gov.uk, the Office of Financial Sanctions Implementation “helps to ensure that financial sanctions are properly understood, implemented and enforced in the United Kingdom.”

OFSI publishes various guides to help with sanctions compliance, which can be found here. 
UK OFSI Sanctions List

Download the latest infographic today to learn more about the pulse of sanctions activity around the world.

Learn more about our Watchlist Screening solutions here.

1. Merriam-Webster. (n.d.). Sanction. In Merriam-Webster.com dictionary. Retrieved January 18, 2022, from https://www.merriam-webster.com/dictionary/sanction

Download the latest infographic today to learn more about the pulse of sanctions activity around the world.

Learn more about our Watchlist Screening solutions here.

1. Merriam-Webster. (n.d.). Sanction. In Merriam-Webster.com dictionary. Retrieved January 18, 2022, from https://www.merriam-webster.com/dictionary/sanction

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Previous Editions

Sanctions Pulse January - June 2021 Infographic
Financial Services Corporations and Non-Profits
Compliance

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