CORISK

Country Risk is Corporate Risk

Sanctions across your supply chain

Increasing corporate risks

Following Western sanctions of Russia, many companies have abandoned investments and trade with Russia. But there is still high risk of involuntary trade via suppliers, daugther companies, Internet trade, parallel imports, or third countries. Many European countries have tightened legal liabilities and penalties for violations of sanctions, including via third countries. In addition, violations of sanctions may involve a substantial risk to reputation.

Corisk tracks in detail all Western trade with Russia and the Eurasian Economic Union. On a monthly basis, Western companies have increased exports to certain third countries by 1 – 2 billion EUR (USD) per month. This volume represents goods that may be re-exported to Russia with or without the will and knowledge of the Western exporter. Similar risks relate to direct and indirect imports. This takes place within virtually all industries.

Even trade in goods that are not the object of sanctions, involve risk that suppliers, agents, importers, or partner companies include sanctioned individuals, or that trade is actually being conducted with a shell company for military or dual-use value chains. As late as November, US authorities black-listed companies in Taiwan, Armenia, France and Switzerland, who had sold electronics to a shell company of Russian military industry.

Our complete insight helps your company assure sanction compliance, avoid involuntary trade with Russia, and protect your reputation. 

Find the trades and mitigate risk

Corisk finds your company’s goods in Russia, identifies middlemen,  and tracks any involuntary or parallel trade with your company’s sanctioned goods. With unique understanding of sanctions and their loopholes, we support cross-cutting risk mitigation:

– Identify your company’s sanctioned goods that have ended up in Russia

– Identify middlemen who (parallel) exported your company’s goods to Russia

– Find the routes and third countries that were utilised

– Track and close compliance gaps 

– Identify tangible and specific risks to your industry  

 

We support your risk mitigation, and the Risk Assessment Memo.

We may illuminate sanction risks to Management, Board, etc.

We deliver tailor-made research at industry or commodity level. 

We guide your company through targeted risk mitigation.

Preview: Western exports to Russia via third-countries during sanctions

The graphics below indicate the magnitude of Western exports of sanctioned goods to Russia, by Western country and by third-country. We will find sanctioned goods produced by your company, if they were included in these trade flows. The flows include excessive exports (more than 20 % above baseline level) which proxy the volume of sanctioned goods flowing to Russia through 9 third-countries, but excluding China, the United Arab Emirates, and some other noteworthy parallel export countries. 

External links: Our openly accessible research on sanctions

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