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Su Yin Anand and Nicholas Tam discuss a breach of sanctions for Siemens

News / 22-09-2017 / Su Yin Anand and Nicholas Tam discuss a breach of sanctions for Siemens

The Siemens turbines case is a textbook example of an above-board transaction being turned into a major violation and makes plain the risks faced by organisations when dealing with external partnersTheir article goes on to discuss the current situation for Siemens, with the exact consequences not yet apparent, apart from Siemens ceasing all business in Russia They also consider how smaller businesses can prepare for such incidents and emphasise the importance of internal checks, robust due diligence and knowledge of potential loopholes throughout any cross-party transactionnbspInce Co has advised businesses of all sizes globally on sanctions compliance for decades and maintains specialist sanctions teams in Asia, the Middle East, and Europe Please contact a member of our Sanctions team if you would like further information on navigating sanctions regimes Please click here for our website dedicated to Regulatory and Compliance issuesnbsp

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