The recent amendments to the Russian iron and steel sanctions that came into effect across Europe on 30 September 2023 have had a significant impact across sectors. We previously reported on the business consequences and recommendations on the tightened restrictions in our blog post available here.
Although the latest restrictions are still in their early days, it is becoming increasingly clear that cooperation between sanctions and customs teams within businesses is crucial to ensure that the correct resources and information is made available to handle the documentary and evidence requirements posed by these sanctions. The iron and steel sanctions are specifically tied to products and inputs of specific customs classifications and inputs specifically of Russian origin, meaning that accurate customs classifications and understanding of your business’ supply chain is crucial not only for customs compliance, but also for sanctions compliance.
We advise clients across the world and across all sectors on a range of customs matters, including complex tariff and origin classifications, as well as sanctions issues. Our strengths across both customs and sanctions has proved invaluable in recent weeks and we continue to find pragmatic solutions that work for our clients’ customs and sanctions compliance teams. Do reach out if you have any questions or require any support with the latest iteration of sanctions.