Changes to Iranian and Russian Sanctions- A update on Trade and Financial Restrictions for 2017
Duration: 60 Minutes
This training program is designed to update participants on current Iranian and Russian trade and financial sanctions. The agreement on nuclear arms with Iran has changed some sanctions. The Russian Cyber Security Sanctions that were put in place to punish Russia for meddling in the US Presidential race are among other recent attacks. What do they mean for American businesses? In early February the new administration added more sanctions on Iran for testing ballistic missiles. There is an escalation of tensions between Iran and the US. What other countries have sanctions, and what do they mean for American businesses? How will I know when the sanctions are lifted? When will US banks accept financial transactions for Russia and Iran?
Objectives of the Presentation
Why Should you Attend
- Understanding what is considered Reasonable Care
- Understand the customer screening that is required
- Determine if your current written procedures are sufficient
- Identify governmental agency and level of involvement
- Understanding what type of training and who in your organization needs it
- Learn the 6 elements of the Reasonable Care Standards
- Learn where to find updates on sanctions
This course will cover all the basics of OFAC and other agency sanctions in place for Iran and Russia. It will also cover the new sanctions for Russia and the improvements for Iranian sanctions. If you do business in either region it is important not to get caught up in trade or financial transactions that could result in fine, penalty, or imprisonment. Sanctions change and not being updated can prove costly. If your company has subsidiaries, can the non-US businesses transact with Russian or Iranian companies?
Who will Benefit
- US Customs role
- US Department of Commerce's role
- Learn what other countries sanctions mean for your business
- Learn the latest terminology and acronyms
- How does this affect global trade facilitation?
- Written procedures and the role of corporate officers
- Learn the restricted parties and embargoed country screening requirements
- Determine if your current program is compliant
- Finance professionals
- Global tax professionals
- Trade compliance professionals
- Logistics managers
- Company compliance officers
- Import/export professionals
- Finance and tax professionals
- Brokers and forwarders
- Legal department
- Corporate IT professionals
- Corporate directors
All companies that do business in these regions will learn more about the sanctions and their financial reach. If you know your customer may re-export to Iran or Russia, what are your responsibilities? Where do you find the answers and how do you deliver that information to your leadership?
The appearance of Russian meddling in the US Presidential Election has caused increased sanctions. Iran testing missiles can also lead to increased sanctions. Will those have additional impact? Does the president of the US have the power to lift sanctions? US Congress, or is it up to the UN?